The global Stem Cells Market connected with Advanced Cell Technology is estimated to be valued at US$ 12.9 Bn in 2023 and is expected to exhibit a CAGR of 9.1% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Stem cells have the potential to repair tissue damage or diseases through cell division and differentiating into a variety of cell types in the body including muscle cells, nerve cells, and insulin-producing cells. The differentiating ability makes stem cells an increasingly important area of biomedical research with potential applications in tissue engineering, gene therapy, cell replacement therapies, and more. Stem cell therapies provide tremendous advantages such as potential to treat many life-threatening diseases and medical conditions, ability reduce dependence on donor organs for transplants, and minimize adverse side effects of many medical therapies as compared to traditional drugs.
Market key trends:
One of the major trends in the stem cells market is growing investment for research and development activities. Stem cell therapy treatment is promising but require extensive clinical evaluation and research to establish effectiveness and safety for human application. Major companies are investing heavily on R&D to discover new applications of stem cells therapeutics and bring novel stem cell products. For instance, Celgene Corporation announced plans to invest over $1 billion in new stem cell facilities to support research activities. Another key trend is increasing focus on regenerative medicine therapies using stem cells. Regenerative medicine involves replacing or regenerating human cells, tissues or organs to restore or establish normal function. Companies are exploring regenerative potential of stem cells for developing new regenerative therapies for retinal degeneration, bone diseases, cardiovascular diseases, and more.
Threat of new entrants: The stem cells market requires high R&D investment and compliance with stringent regulations which acts as a barrier for new companies.
Bargaining power of buyers: The presence of many stem cell companies gives buyers more bargaining power in terms of quality and pricing.
Bargaining power of suppliers: A few globally operating companies dominate the supply of stem cells, giving them higher bargaining power.
Threat of new substitutes: There is a low threat of new substitutes due to stem cells being uniquely capable of developing into diverse cell types with therapeutic potential.
Competitive rivalry: The global stem cells market is highly competitive with leading companies investing heavily in R&D to develop innovative stem cell therapies.
The global Stem Cells Market is expected to witness high growth, exhibiting CAGR of 9.1% over the forecast period 2023-2030, due to increasing prevalence of chronic diseases. The market size is projected to reach US$ 12.9 Bn in 2023.
Regional analysis: North America dominates the global stem cells market supported by increasing funding for stem cell research and rising healthcare spending. Asia Pacific is expected to be the fastest growing market attributed to growing stem cell banking and rising medical tourism in countries such as China, India and Japan.
Key players: Key players operating in the stem cells market are Advanced Cell Technology, Inc., Angel Biotechnology Holdings PLC, Biotricity, Lineage Cell Therapeutics, Inc., BrainStorm Cell Limited., CIRM, Takara Bio Inc., Cellular Engineering Technologies., Cytori Therapeutics Inc., and STEMCELL Technologies. These players are focusing on developing innovative stem cell therapies through strategic collaborations and acquisitions.
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it