Stem Cell Cartilage Regeneration Market to Garner US$ 596.5 Million By 2027 – Coherent Market Insights
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The Global Stem Cell Cartilage Regeneration Market, by Stem Cell Type (Hematopoietic Stem Cells, Pluripotent Stem Cells, and Mesenchymal Stem Cells), by Treatment (Microfracture, Osteochondral Transplant, Autologous Chondrocyte Implantation, and Others), by End User (Hospitals & Clinics and Ambulatory Surgical Centers), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 298.3 million in 2019, and is expected to exhibit a CAGR of 9.1% during the forecast period (2019-2027), as highlighted in a new report published by Coherent Market Insights.
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Stem cell-based therapy is a key focus in functional replacement of cartilage regeneration. Rising incidence of osteoarthritis among the global population is expected to increase adoption of efficient and promising treatment such as stem cell therapy during the forecast period. There were 14 million individuals in the U.S. who has symptomatic knee osteoarthritis and nearly 2 million people under the age of 45 that were suffering from symptomatic knee osteoarthritis as per Arthritis Foundation, 2017.
Furthermore, growing engagement of key players in developing stem cell therapy as commercially viable, safe, efficient, and economical therapeutic agents for cartilage regeneration is expected to drive growth of the global stem cell cartilage regeneration market during the forecast period. For instance, organizations such as California’s Stem Cell Agency is indulged in the development of new stem cell-based therapies for chronic diseases such as cancer and rare diseases. Moreover, manufacturers such as Sangamo Therapeutics and Fate Therapeutics are working on developing stem cell-based therapies for diseases such as β-Thalassemia and cancer, respectively.
Furthermore, companies are also focusing on research and development activities, in order to launch novel products to increase their revenue in the stem cell cartilage regeneration market. According to Alliance for Regenerative Medicine, globally there were 946 clinical trials in progress in 2017, an 18% increase from the previous year.
Browse 32 Market Data Tables and 24 Figures spread through 154 Pages and in-depth TOC on Global Stem Cell Cartilage Regeneration Market
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Rising mergers and acquisitions by major players to strengthen their share in this market are further expected to drive growth of stem cell cartilage regeneration market. For instance, in March 2015, Fujifilm Holding Corporation acquired Cellular Dynamics International, Inc. (CDI). CDI’s technology platform enables the production of high-quality fully functioning human cells, including induced pluripotent stem cells (iPSCs), on an industrial scale, which will help the Fujifilm Holding Corporation to strengthen their position in this segment.
Key Takeaways of the Global Stem Cell Cartilage Regeneration Market:
- The global stem cell cartilage regeneration market is expected to exhibit a CAGR of 9.1% during the forecast period (2019-2027) due to the growing number of knee cartilage defects in patients with osteoarthritis (OA).
- Among stem cell type, the mesenchymal segment is expected to hold dominant position in the global stem cell cartilage regeneration market due to the growing research and development activities pertaining to mesenchymal stem cells. For instance, in November 2018, a peer-reviewed case study conducted using a stem cell processed by Celltex Therapeutics Corporation, showed improvement in disease findings following systemic administration of autologous adipose derived mesenchymal stem cells.
- Major players operating in the global stem cell cartilage regeneration market are Theracell Advanced Biotechnology Ltd., Orthocell Ltd., Xintela AB, CellGenix GmbH, Merck KGaA, Osiris Therapeutics, Inc., BioTissue SA, and Vericel Corporation.
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