Stem Cells Industry Overview
The global stem cells market size generated a revenue of USD 9.38 billion in 2020. It is expected to expand at a compound annual growth rate (CAGR) of 8.8% from 2021 to 2028.
The factors contributing to the growth include increasing demand for biologics, technological advancement in stem cell therapeutics, and a growing focus on the development of personalized medicines. The increasing focus on the treatment of neurological disorders contributes to the market expansion. According to the World Health Organization (WHO), around 7.1% of the total global burden of diseases is cerebrovascular diseases and neurological disorders. Hence, companies are conducting basic research and preclinical trials for testing the regenerative capacity of stem cells in the treatment of neurological conditions.
Gather more insights about the market drivers, restrains and growth of the Global Stem Cells Market
For instance, in May 2020 Celavie Biosciences advanced its 5-year exploratory study on Parkinson’s disease. The company is developing regenerative stem cell therapies for treating central nervous system disorders and Parkinson’s disease. Celavie Biosciences released successful results for their exploratory clinical trials of OK99 stem cells for Parkinson’s disease.
Moreover, the gaining popularity of personalized medicines is further contributing to the market growth. Researchers are discovering new procurement methods that can be further applied for developing personalized medicines. For instance, iPSC therapies are developed using a small amount of sample from a patient’s blood or skin cell that is later reprogrammed to form new cells and tissue for transplant. Hence, with the application of these cells, potential personalized medicines can be developed.
Furthermore, Companies are focusing on developing therapies for reducing different stress associated with COVID-19. For instance, in October 2020, NoveCite and Novellus Therapeutics Limited entered into a partnership for developing & commercializing NoveCite iPSCs for treating COVID-19 associated Acute Respiratory Distress Syndrome (ARDS). The process has multimodal immunomodulatory mechanisms of action, which makes it a promising therapy for treating acute respiratory diseases.
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Market Share Insights
- February 2021: Notch Therapeutics, Inc. received funding of USD 85 million for developing induced pluripotent therapies for cancer.
- September 2020: Researchers from Duke-NUS and Monash University discovered the first stem cell that can help in the treatment of placenta complications during pregnancy.
Key Companies profiled:
Some key participants operating in the global stem cells market include:
- CELGENE CORPORATION
- ReNeuron Group plc
- Virgin Health Bank
- Biovault family
- Precious Cells International Ltd
- Mesoblast Ltd
- Seneca Biopharmaceuticals, Inc.
- Opexa Therapeutics, Inc.
- Pluristem Therapeutics Inc
- STEMCELL Technologies Inc.
- ThermoGenesis Holdings, Inc
- Astellas Pharma Inc.
- Cellular Engineering Technologies
- BioTime, Inc.
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