The global stem cells market size is expected to reach USD 18.4 billion by 2028, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 8.8% during the forecast period. The market is driven by the rising number of stem cell banks, growing focus on increasing therapeutic potential of these, and extensive research for the development of regenerative medicines, among other factors.
Companies
are receiving robust funding for the development of cellular therapies for
cancer, which is anticipated to supplement the market growth. For instance, in
February 2021, Notch Therapeutics, Inc. received funding of USD 85 million for
developing induced pluripotent therapies for cancer. The investment will
support the development of the company’s iPSC-derived T cell-based therapeutic
candidates and expanding the application of their proprietary Engineered Thymic
Niche (ETN) platform.
The
increasing focus on regenerative medicines is further driving the market
growth. The iPSCs are gaining popularity for the development of personalized
cellular therapies and are creating new opportunities for regenerative
medicine. For instance, in September 2020, researchers from Duke-NUS and Monash
University discovered the first stem cell that can help in the treatment of
placenta complications during pregnancy.
The
researchers discovered a new way for creating induced trophoblast stem cells
which can be used for making placenta cells. The discovery will facilitate in
developing a model human placenta in vitro and enabling a pathway for future cell
therapies. The administration of cell therapy demonstrated positive results in
the treatment of COVID-19 patients, which is further contributing to the market
growth. In January 2020, a group of researchers used stem cell treatment on
patients in Beijing, China for checking its effectiveness against COVID-19.
The
patients received a single infusion of mesenchymal stem cells (MSCs) which was
found to be effective in developing an immune response. However, to date, there
are no MSCs that are approved by the U.S. Food and Drug Administration (FDA)
for the treatment of COVID-19 owing to insufficient data on their role in
treating COVID-19.
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Stem Cells Market
Report Highlights
- ASCs segment
accounted for the largest share of 85.7% in 2020 as it is considered as a
gold standard in stem cell-based therapies. They are widely accepted owing
to their consistent clinical success especially in hematopoietic
transplants and there is a relatively less controversial view regarding
their origin
- The iPSC
segment is expected to witness a lucrative CAGR of 9.3% through 2021-2028
owing to the increasing focus of companies in using iPS for cell
therapies. For instance, in July 2020, Cynata Therapeutics Limited
announced positive results for the phase 1 clinical trial of CYP-001, the
company’s lead induced pluripotent stem cell (iPSC)-derived Cymerus
- Regenerative
medicine dominated with a market share of 89.1% in 2020 owing to
increasing funding by the government for the development of regenerative
medicines. For instance, in October 2020,
the AusBiotech-led consortium received funding of $300,000 from
MTPConnect’s Industry Growth Centre Project Fund for the development of
regenerative medicines in the country
- Cell
acquisition held the largest market share of 35.8% in 2020 and is expected
to expand at the fastest CAGR through 2021-2028 owing to increasing
research studies involving cell harvesting
- Allogenic
therapy dominated with a market share of 58.2% in 2020 owing to the
increasing application of allogeneic stem cell transplants for cancer
treatment
- The North
America market encompasses U.S. and Canada. The factors contributing to
the market growth in the region include robust government funding, increasing
research, and the presence of prominent players.
- Asia Pacific
is expected to expand with the fastest CAGR of 9.0% through 2021 to 2028
owing to increasing expansion by key companies in this region. For
instance, in April 2020, Seneca Biopharma completed its new stem cell
manufacturing facility in Suzhou, China
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About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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