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Stem Cell Therapy Market to Surpass US$ 40.3 Billion by 2027, Owing to Increasing Incidence of Spinal Cord Injuries

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According to Global Stem Cell Therapy Market Report, by Cell Source (Adult Stem Cells, Induced Pluripotent Stem Cells, Embryonic Stem Cells, and Others), by Application (Musculoskeletal Disorders, Wounds and Injuries, Cancer, Autoimmune Disorders, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), published by Coherent Market Insights, the global stem cell therapy market was valued at US$ 7,313.6 million in 2018, and is expected to exhibit a CAGR of 21.1% over the forecast period (2019-2027).

Increasing incidence of spinal cord injuries is expected to boost growth of the global stem cell therapy market over the forecast period. For instance, according to the National Spinal Cord Injury Statistical Center, 2016, the annual incidence of spinal cord injury (SCI) was approximately 54 cases per million population in the U.S. or approximately 17,000 new SCI cases each year. Moreover, high prevalence of leukemia is also expected to aid in growth of the market. For instance, according to the Leukemia and Lymphoma Society, 2017, around 172,910 people in the U.S. were diagnosed with leukemia, lymphoma or myeloma in 2017.

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R&D of induced pluripotent stem cells is expected to boost growth of the global stem cell therapy market over the forecast period. For instance, in April 2019, Fate Therapeutics collaborated with UC San Diego to launch off-the-shelf immunotherapy (FT500), which was developed from human induced pluripotent stem cells.

Among regions, North America accounted for the largest share in the global stem cell therapy market in 2018, and is expected to retain its dominance over the forecast period. This is attributed to increasing number of clinical trials related to stem cell therapy. For instance, in April, 2019, UCLA-UCI Alpha Stem Cell Clinic participated in a new clinical research study to investigate a stem cell product CTX0E03 DP, in order to improve function in people with chronic disability from ischemic stroke. Moreover, increasing prevalence of cancer is also expected to aid in growth of the market in North America. For instance, according to National Cancer Institute, in 2016, around 1,685,210 new cases of cancer were diagnosed in the U.S. alone.

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Among cell sources, the adult stem cells segment accounted for the largest market share in the global stem cell therapy market in 2018. This is attributed to significant developments related to adult stem cells. For instance, in October 2016, Pall Corporation and RoosterBio Inc., an adult stem cell technology company, announced a co-development and marketing partnership. Under this partnership, the companies offered solutions for expansion of large-scale bioreactors of human mesenchymal stem/stromal cells (hMSCs) to accelerate product development and commercialization of stem cell based therapies in the market.

Key players in the market are focused on launching new products to expand their product portfolio. For instance, in January 2019, STEMCELL Technologies launched mTeSR Plus, a feeder-free human pluripotent stem cell (hPSC) maintenance medium for avoiding conditions associated with DNA damage, genomic instability, and growth arrest in hPSCs. Similarly, in February 2018, the Institute of Integrative Biology entered into a collaboration with Anika Therapeutics, Inc., to develop an injectable mesenchymal stem cell (MSC) therapy for the treatment of osteoarthritis in patients. In 2016, Axiogenesis AG and Metrion Biosciences Ltd. entered into a collaboration to validate, optimize, and commercialize induced pluripotent stem cell-derived cells and tissues, to speed up research in drug discovery

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Key Takeaways

  • The global stem cell therapy market is expected to exhibit a CAGR of 21.1% over the forecast period
  • Increasing incidence of spinal cord injuries is expected to boost growth of the global stem cell therapy market over the forecast period

Key players operating in the global stem cell therapy market include Magellan, Medipost Co., Ltd, Osiris Therapeutics, Inc., Kolon TissueGene, Inc., JCR Pharmaceuticals Co., Ltd., Anterogen Co. Ltd., Pharmicell Co., Inc., and Stemedica Cell Technologies, Inc.

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Last Updated: 24-Jul-2020