Stem Cell Therapy Market Size :
Industry Growth Factors, Applications, Growth Analysis, Key Players and
Forecasts by 2023
The global Stem Cell Therapy Market is expected to witness tremendous growth owing to the rising prevalence of cancer, heart diseases, stroke, and osteoarthritis. Other key factors such as the change to sedentary lifestyle, growing consumption of alcohol, and an increase in smoking are contributing towards the growth of the market. However, factors such as high cost of surgical procedures, expensive chemotherapy treatments, the risk of rejecting cells by patient’s body as the cells are derived from embryos these factors can restrict the market growth during the forecast period.
The global stem cell therapy market is segmented on the basis of type, therapeutic application, cell source, and end user. The stem cell therapy market, by type, is sub-segmented into Allogeneic and Autologous. On the basis of therapeutic application, the market is categorized into medicine, cardiovascular diseases, bone regeneration, neurodegenerative disorders, wound healing, treatment of eyes, hematopoietic disorders, metabolic disorders, cancer, immunodeficiency, and diabetes. Cell source is further sub-segmented into adipose tissue, bone marrow, neural, embryo/cord blood-derived, iPSCs. On the basis of end-user, the market is segmented into biotechnology companies, hospitals & research institutes, contract research organizations and stem cell banks.
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The Americas is the largest in the market owing to the increasing prevalence of heart diseases and growing healthcare expenditure. According to the Centers for Disease Control and Prevention in November 2017, report every year 735,000 Americans have a heart problem. Such a high number of heart patients in the Americas drives the market growth in this region.
Europe (UK, Belgium, France, and Netherlands) is the second largest global stem cell therapy market during the forecast period. The increasing occurrence of stroke, cancer, and osteoarthritis drives the market in this region. According to Anthony Nolan organization 2017, annual review 1.4million people register for donating stem cell in 2017. Also, more than 2,200 searches for a lifesaving stem cell transplant were made in 2017 by UK people. Such a high demand for Stem cell transplantation in this region promotes the market.
Asia-Pacific was projected to be the fastest growing region for the global stem cell therapy market in 2017. The market is expected to witness growth owing to the rising prevalence of smoking in this region.
According to the American Cancer Society, Inc 2018, report China 48.9%, India 16.2%, Japan 11.2% accounts of cancer cases in this region. Such a high cancer rate in this region favors the stem cell therapy market in this region.
The Middle East and Africa accounts for the least share due to low per capita income and lack of availability of well-trained healthcare professionals. However, the rising oncology and technology both at the hospital level and in the community are expected to influence the market in a positive way.
Some of the key players are Osiris Therapeutics, Inc. (US), MEDIPOST Co., Ltd. (South Korea), Anterogen Co., Ltd. (South Korea), Pharmicell Co., Ltd. (South Korea), Holostem Terapie Avanzate S.r.l. (Italy), JCR Pharmaceuticals Co., Ltd. (Japan), NuVasive, Inc. (US), RTI Surgical, Inc. (US), and AlloSource (US), and Thermo Fisher Scientific Inc