Market overview
The worldwide stem cell therapy market is expected to attain an estimated CAGR of 10.3% over the forecast period. The application of stem cell for curing medical conditions is known as stem cell therapy.
The global stem cell therapy market is anticipated to rise due to the growing awareness for therapeutic application of stem cells in increasing research for stem cell therapy applications, disease management, advancement of genetic analysis techniques, boosting studies in identification of new stem cell lines, developments in stem cell banking infrastructure and increasing public-private fundings for stem cell research are factors influencing the global stem cell therapy market. Stem cell finds its applications in the cure of Alzheimer’s where affected cells are replaced by stem cells. The approach has huge potential in halting or preventing different neurodegenerative ailments like Alzheimer’s. A study by Alzheimer's Association in 2018, states that 5.7 million Americans got affected by the Alzheimer’s disease.
Market Analysis
Stem-cell therapy simply put is the utilization of stem cells for preventing or treating a condition or disease. For over 55 years, stem cells have been used for treating serious diseases including cancer, dementia, type 1 diabetes, arthritis, stroke, heart disease, Alzheimer’s disease, amyotrophic lateral sclerosis, Parkinson’s disease, spinal cord injuries, burns and osteoarthritis. The stem cells are generally undifferentiated cells which are differentiated into the specialized cell types. There are a couple of key factors that is responsible for the massive growth of the global stem cell therapy market. These include new developments in the banking infrastructure of stem cells, increasing research in new stem cell line identification, rising public-private investment in stem cell research, development of latest genetic analysis techniques, increasing research for application of stem cell therapy and the increasing awareness for stem cells therapeutic application in disease management.
Stem cells are used for treating Alzheimer’s disease by using stem cells in place of the diseased cells. This method has an excellent potential to halt or prevent different forms of neurodegenerative diseases. More than 5.7 million Americans were diagnosed with Alzheimer’s disease as reported by the Alzheimer’s Association in 2018. It is the increasing government funding and rising number of neurological diseases that has boost up the stem cell therapy market. But there are some factors however that may restrict the growth of the market during the forecast period. These include regulatory complications, lack of skilled labor exclusive procedures, cross contaminations and difficulty of collection as well as storage techniques of the somatic stem cells. The global stem cell therapy market is likely to touch at 10.3% CAGR during the forecast period.
Market Segmentation
In MFRF’s report, the global stem cell therapy market is segmented on the basis of type, therapeutic application, cell source and end-user.
On the basis of type, it is segmented into autologous and allogeneic. The latter had the largest market share in 2016 for a couple of reasons such as growing commercialization of allogeneic products, its higher therapeutic applications and rising clinical trials associated to this therapy.
On the basis of therapeutic application, it is segmented into diabetes, immunodeficiency, cancer, metabolic disorders, hematopoietic disorders, treatment of eyes, wound healing, neurodegenerative disorders, bone regeneration, cardiovascular disease and medicine.
On the basis of cell source, it is segmented into iPSCs, cord/embryo blood-derived, neural, bone marrow and adipose tissue.
On the basis of end-user, the stem cell therapy market is segmented into stem cell banks, contract research organizations, research institutes, hospitals and biotechnology companies.
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