Stem cell therapy market size to record a CAGR of 8% through 2028

By Sachin Pashte  | Date: January 09, 2023

Stem cell therapy market size to record a CAGR of 8% through 2028

Citations seconded by esteemed researchers reveal that global stem cell therapy market is anticipated to expand at a CAGR of 8% through 2028 and eventually account for a sizable valuation by the end of the forecast period.

Growth in the occurrences of rare genetic disorders such as thalassemia, phenylketonuria, and cystic fibrosis in tandem with notable advancements in the field of stem cell therapies are the major factors propelling the revenue margins of global stem cell therapy market.

In addition, booming government initiatives that are in the process of backing regenerative medicine research, growing popularity of precision medicine as well as a surge in the number of clinical trials are some of the factors that marginally improving the scope of profitability for the global market in the upcoming years.

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Interestingly, WHO recently released new findings that shed light on the fact that chronic diseases kill nearly 41 million people every year, which accounts for up to 71% of global deaths.

Moving on to segmentation, based on product type the adult stem cell segment of worldwide stem cells therapy industry peaked in terms of revenue in 2021 and is slated to continue to foresee an upward graph during 2022-2028, owing to rapid proliferation of cell banking services as well as key advancements in bio preservation and cryopreservation.

In terms of therapy type, the allogeneic stem cell therapy is estimated to account for considerable share of the global market revenue during the study period.

Considering technology, the cell acquisition segment is anticipated to grow substantially over the forecast timeframe, owing to the unearthing of embryonic stem cells which have been a key component in the development of several novel treatment procedures.

From a regional frame of reference, North America stem cell therapy marketplace is anticipated to account for a strong remuneration during the analysis timeframe, attributable to notable research and development initiatives, highly advanced biotechnology industry, rising emphasis on personalized medicines, and pervasiveness of major corporations in the region.

Meanwhile, Asia Pacific is anticipated to maintain its dominance throughout the forecast timeframe, attributable to soaring patient intake, growth in occurrences of diseases such as diabetes, cancer, and other neurological disorders as well as major developments in the field of cell therapies within the region.

Notably the competitive hierarchy of global stem cell therapy market includes major players such as Seneca Biopharma Inc., Caladrius Biosciences Inc., ThermoGenesis Holdings Inc., Opexa Therapeutics Inc., ReNeuron Group plc, BioTime Inc., Mesoblast Ltd, Pluristem Therapeutics Inc., NOVADIP Biosciences S.A., Bristol Myers Squibb Company, STEMCELL Technologies Inc., and Astellas Pharma Inc.

Questions and Answers: - Global Stem Cell Therapy Market

Question 1. What are the major factors driving global stem cell therapy market trends?

Answer 1. Growth in the occurrences of rare genetic disorders such as thalassemia, phenylketonuria, and cystic fibrosis in tandem with notable advancements in the field of stem cell therapies are the major factors driving global stem cell therapy market trends.

Question 2. How is Asia Pacific contributing to global stem cell therapy market revenue?

Answer 2. Soaring patient intake, growth in occurrences of diseases such as diabetes, cancer, and other neurological disorders as well as major developments in the field of cell therapies Are impelling the demand for stem cell therapy in Asia Pacific, thus contributing to overall market revenue.

Question 3. Which are the key players influencing global stem cell therapy market dynamics?

Answer 3. ThermoGenesis Holdings Inc., Opexa Therapeutics Inc., ReNeuron Group plc, BioTime Inc., Mesoblast Ltd, Pluristem Therapeutics Inc., NOVADIP Biosciences S.A., Bristol Myers Squibb Company, STEMCELL Technologies Inc., and Astellas Pharma Inc. are the key players influencing global stem cell therapy market dynamics

For more details on this report: https://www.marketstudyreport.com/reports/global-stem-cell-therapy-market-investment-growth-opportunity-analysis-2019-2028

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About Author

Sachin Pashte     ibmag.com

Sachin Pashte

Sachin is into market research and web marketing since the last 2 years and has worked on multiple projects across various industries. He has expertise in writing promotional content for market research reports while his personal interests include the games of footbal...

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