Stem cells have the ability to differentiate into specialized cell types and can potentially replace diseased or damaged tissues. Over the past few years, stem cell research and treatment have advanced significantly leading to their potential use in treatment of diseases such as cancer, neurological disorders, and cardiovascular diseases. Stem cell therapy holds promise to treat debilitating and life-threatening conditions by growing tissues and organs and potentially curing diseases.
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 7.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Stem cells have the potential to repair damaged tissues and cells in the body through cell replacement or cell regeneration. Bone marrow transplantation and blood transfusion are some of the earliest applications of stem cell therapy. Recent developments like umbilical cord banking and advancements in induced pluripotent stem cells research have increased the potential of their usage. Development of various novel stem cell sources coupled with advanced cell culture techniques have provided insight into regenerative capabilities of stem cells. The increasing prevalence of chronic and life-threatening diseases such as cancer and cardiovascular diseases globally is expected to propel the market growth.
Market key trends:
One of the major trends in the stem cells market is the increasing investment and funding by both private and public organizations towards stem cell research. For instance, according to National Institutes of Health data, the US federal government invested over US$ 1.5 billion towards stem cell research in 2021, growing at a CAGR of 8.5% over the past decade. This significant funding has accelerated research activities and new clinical trials, aiding development of novel stem cell therapies and applications. Furthermore, developments in technologies such as three-dimensional bioprinting, gene editing, and artificial intelligence hold promise to transform stem cell production, storage, and applications. The application of these advanced technologies can help generate personalized stem cells at an industrial scale for clinical translation.
Porter’s Analysis
Threat of new entrants: The stem cell market requires high R&D investment and regulatory compliance which acts as a barrier for new entrants.
Bargaining power of buyers: The bargaining power of buyers is moderate as stem cell therapy is still an emerging field with limited approved applications.
Bargaining power of suppliers: A few global players dominate the supply chain which gives them strong bargaining power over buyers.
Threat of new substitutes: Currently, there are no perfect substitutes for stem cell therapy however alternative regenerative medicine approaches continue to emerge.
Competitive rivalry: The stem cell market sees intense competition among existing players to gain leadership in research, clinical trials and commercialization of novel applications.
Key Takeaways
The global stem cell market is expected to witness high growth over the forecast period supported by ongoing advancements. Global Stem Cells Market Size is estimated to be valued at US$ 12.9 billion in 2024 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030.
Regional analysis: North America currently dominates the global stem cell market supported by favorable regulatory environment and significant investments in stem cell research infrastructure. Asia Pacific is expected to emerge as the fastest growing market led by strong government support for stem cell research in countries such as China, India and Japan.
Key players: Key players operating in the stem cell market are Abzena Ltd., Clarivate, Immunetrics Inc., GNS Healthcare, Dassault Systemes, Evotec, Novadiscovery, Insilico Medicine Inc., and InSilicoTrials Technologies, among others. Key players are focusing on enhancing their R&D capabilities and forging collaborations to develop innovative applications of stem cell therapy.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it