The stem cells market is expected to grow at highest pace owing to rising investments in R&D activities. Stem cells have the potential to develop into many different cell types in the body during early life and growth. The transformation of stem cells into specialized cells offers potential treatments and cures for diseases including diabetes and heart disease. Advances in stem cell biology and transplantation technologies have made it now possible for doctors to treat some diseases using one's own stem cells or via donor stem cells.
The global stem cells market is estimated to be valued at US$ 12.9 billion in 2024 and is expected to exhibit a CAGR of 9.1% over the forecast period 2024 to 2031
Key Takeaways
Key players operating in the stem cells market are Ferrero S.p.A, MARS Inc., Mondelez International, Inc. (Kraft), The Hershey Company, Lotte Co., Ltd., Nestle SA. The key players are involved in various strategic developments like partnerships, collaborations and new product launches to strengthen their market position. For instance, in 2020, Ferrero group acquired Kellogg's cookies and fruit snacks business to expand its product portfolio.
Growing Stem Cells Market Demand due to rising prevalence of chronic diseases is fueling the market growth. According to WHO estimates, chronic diseases accounted for around 60% of the 57 million global deaths in 2005. Stem cell therapeutics offers potential treatment for various chronic diseases.
Technological advancements in stem cell biology such as development of improved techniques for isolation, characterization and manipulation of stem cells are supporting the market expansion. Researchers are developing techniques like induced pluripotent stem cell technology to generate patient and disease-specific stem cells for research and clinical applications.
Market Trends
Umbilical cord blood Stem Cells Market Size and Trends is emerging as a key trend in the market. Umbilical cord blood is rich source of hematopoietic and mesenchymal stem cells. Increasing number of families are opting for private and public cord blood banking due to larger therapeutic scope of cord blood stem cells.
Growing clinical trials of stem cell therapeutics for various diseases including cancer, cardiovascular diseases and neurological disorders is another major trend. For instance, clinical trials are ongoing to evaluate the efficacy of mesenchymal stem cells in treatment of Alzheimer's disease and multiple sclerosis.
Market Opportunities
Emerging applications of stem cells in disease modeling and drug discovery present significant growth opportunity. Stem cell derived differentiated cells are used to model disease progression and drug screening. This reduces dependence on animal models.
Personalized stem cell therapeutics tailoring stem cells according to individual's genetics offers lucrative opportunities. Researchers are exploring using patient's own stem cells or genetically matched donor stem cells for transplantation to reduce rejection risks.
Impact of COVID-19 on Stem Cells Market Growth
The COVID-19 pandemic has significantly impacted the growth of the stem cells market. During the initial outbreak, travel restrictions and supply chain disruptions led to the cancelation or postponement of stem cell transplants and clinical trials. This negatively impacted the overall market revenue during 2020. However, as the pandemic intensified, researchers started investing resources to understand the effects of SARS-CoV-2 virus on various cells and tissues. This accelerated the use of stem cells in developing potential therapies and vaccines for COVID-19. Various regenerative medicine companies are studying the application of mesenchymal stem cells to reduce the cytokine storm and lung inflammation associated with severe COVID-19 cases. Some clinical trials are also investigating whether umbilical cord-derived stem cells could enhance the immune response against the virus. Looking ahead, as clinical evidence demonstrating the therapeutic benefits of stem cells in fighting COVID-19 grows, it is likely to attract more funding and investments into this area. This will fuel the market growth in the coming years. However, ongoing supply chain challenges and possibility of future pandemic waves still remain key risks that need to be addressed.
Geographical Regions with Highest Stem Cells Market Value
North America currently holds the largest share of the global stem cells market in terms of value. This is attributed to the presence of advanced healthcare infrastructure, rising geriatric population undergoing stem cell therapy, and increasing funding for research activities in the US and Canada. Within the region, the US dominates due to its super speciality hospitals offering niche treatments using stem cells. Another lucrative market is Asia Pacific which has emerged as the fastest growing regional market for stem cells. Factors such as rising healthcare spending, increasing stem cell donation rates in India and China, and growing medical tourism are driving the market growth in Asia Pacific.
Fastest Growing Regional Market for Stem Cells
Asia Pacific market for stem cells is expected to witness the highest CAGR during the forecast period. This is influenced by the growing demand for stem cell therapy in cosmetic procedures and rising regenerative medicine research initiatives in top economies like India, China, Japan and South Korea. Rising disposable income, developing healthcare infrastructure, and favorable government policies to promote stem cell banking will further aid the market expansion in this region. Some of the key factors fueling market growth in Asia Pacific include lower treatment costs compared to developed countries, increasing focus on treatment of chronic diseases using stem cells, and growing medical tourism industry. As a result, Asia Pacific region is poised to dominate the global stem cells market in terms of CAGR by 2031.
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