Stem Cell Therapy Market Size to Surpass USD 31.41 Bn by 2030

August 5, 2022

The global stem cell therapy market size is projected to surpass around USD 31.41 billion by 2030 and it is growing at a CAGR of 13.73% over forecast period 2022 to 2030, as per new report study by Precedence Research.

/EIN News/ -- Ottawa, Aug. 05, 2022 (GLOBE NEWSWIRE) -- The global stem cell therapy market size was reached at USD 11.22 billion in 2022. There has been an increase in the demand for these treatments due to various factors like the advancements in the technology and growing demand for the personalized medicine. Increased cases of various chronic disorders and a good result provided by the treatment is expected to drive the market growth in the coming years. There has been an increase in the research and development activities for providing personalized medicine and this shall drive the market growth in the coming years.

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Why North America region dominated the stem cell therapy market

Why Asia Pacific region will grow faster in near future?

Key Takeaways:

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Report Highlights

Scope of the Report

Report Attributes Details
Market Size in 2021 USD 9.87 Billion
Revenue Forecast by 2030 USD 31.41 Billion
CAGR 13.73% from 2022 to 2030
Largest Market North America
Fastest Growing Region Asia Pacific
Base Year 2021
Forecast Year 2022 to 2030
Key Players Caladrius, CELGENE CORPORATION, ReNeuron Group plc, Opexa Therapeutics, Inc., Virgin Health Bank, STEMCELL Technologies Inc., Biovault family, Pluristem Therapeutics Inc, Precious Cells International, Ltd, Mesoblast Ltd, Seneca Biopharmaceuticals, Inc.

Market dynamics

Drivers

The stem cell therapy market is expected to grow well in the coming years due to the use of these treatment for treating various cardiovascular diseases and neurological disorders. Growing importance of these therapies in treating the autoimmune diseases will lead to the growth of the market in the coming years period constant research activities have improved the product in the past. Increase amount of funding provided by the governments and other private firms shall be helpful in improving the market further stem cell treatments.

In order to improve the market for the stem cell therapies a 10-year road map for the research activities associated with the stem cell was provided by the Australian government. Many major steps taken by various governments in a similar fashion will drive the market growth in the coming years period

Restraints

Although this treatment is extremely beneficial against various diseases that do not have other cures the market is expected to see a few hurdles in the growth. Stem cells are obtained from the human embryo and destroying the human embryo is unethical even if it is associated with saving the life of the human beings. And this ethical problem with acquiring of the stem cells shall restrain the market growth in the coming years.

Opportunities

The use of the induced pluripotent stem cells for deriving stem cells from the huddle human body which are an alternative to the embryonic stem cell shall provide opportunities for the growth of this market in the coming years. It is an extremely effective alternative it does not involve any ethical issues. The development of this technology will be instrumental in providing better opportunity or growth prospects in the coming years period

Challenges

One of the major challenges in the industry is that of the expansive nature of these treatments. Although these treatments are extremely beneficial and provide great results for various chronic disorders including cancer the cost of these treatments is extremely high and it is unaffordable for lower income groups across the globe. Also, the lack of awareness of the availability of these treatments in many developing nations will also hinder the market growth in the coming years.

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Recent Developments

Market Segmentation

By Product

By Therapy Type

By Application

By Technology

By End User

By Geography

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