Growing Prevalence of Cancer Fuels Stem Cell Therapy Market Growth

According to our new research study on "Stem Cell Therapy Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type, Treatment, Application, and End User," the stem cell therapy market size is expected to reach US$ 6,206.89 million by 2028 from US$ 2,278.49 million in 2022, with an estimated CAGR of 18.2%. The report highlights trends prevailing in the market, and drivers and restraints pertaining to the stem cell therapy market growth.

Cancer is one of the leading causes of mortality across the world, and the disease is profoundly affecting the quality of life. According to estimates published by the American Cancer Society in 2023, the US had at least 42% of newly diagnosed cancer cases, accounting for 805,600 cases in 2022, excluding non-melanoma skin cancer. Similarly, the treatment of cancer accounts for a high percentage of healthcare expenditure in the US alone. According to the National Cancer Institutes, the cancer-related direct medical cost in the US is projected to grow from US$ 183 billion in 2015 to US$ 246 billion by 2030, registering a 34% increase. This can be attributed to the rising geriatric population, and surging prevalence of smoking, obesity, and physical inactivity. The National Cancer Institute report also states that stem cell transplants assist in the restoration of blood-forming cells among cancer patients undergoing chemotherapy or radiation therapy. Blood-forming stem cells are important as they facilitate the growth of different types of blood cells, such as white blood cells (WBCs), red blood cells (RBCs), and platelets. Stem cell transplants do not function directly against cancer; instead, they help recover the body's ability to produce stem cells after treatment with high doses of radiation therapy, chemotherapy, or both. Thus, an increase in the demand for advanced cancer treatment is driving the growth of the stem cell therapy market.

North America held the largest share of the stem cell therapy market in 2021. The prominent market share of the region is attributed to the growing awareness regarding the use of stem cells in disease treatment, favorable reimbursement policies for stem cell therapy research & development activities, increasing emphasis on stem cell banking, and the presence of major market players. In North America, the US is the largest market for stem cell therapy. The growing emphasis on lowering hospitalizations and healthcare costs primarily drives the stem cell therapy market growth in the US. Increasing financial aid by investors, government authorities, and significant players also supports the stem cell therapy market growth in the US. For instance, in July 2019, Century Therapeutics raised US$ 250 Million through a financing round to develop induced pluripotent stem cells (iPSC) to utilize them in allogeneic cell therapy.. Moreover, developments in regenerative medicines are expected to drive the acceptance and adoption of stem cell therapy in the US. In May 2019, SpinalCyte, LLC, a clinical-stage regenerative medicine company, announced the launch of a new comprehensive platform to raise awareness of the potential benefits served by fibroblasts and their promising applications in regenerative medicine technology. Thus, the increasing application of regenerative medicines in disease management, and surging financial aid by investors, government authorities, and significant players boost the stem cell therapy market growth in North America.

The COVID-19 pandemic had a positive impact on the stem cell therapy market. The application of stem cells in the treatment of COVID-19 infection has gathered the attention of medical researchers, resulting in a higher number of clinical trials. Regenerative medicine based on cellular therapies may be developed as a treatment option for patients, lowering infection rates and mortality. Research institutes and companies are collaborating to develop novel treatment options for COVID-19. For instance, in April 2020, Infectious Disease Research Institute and Celularity announced that the US FDA had approved a clinical trial application to develop cell-based therapy for COVID-19. Thus, researchers are increasingly attempting to develop stem cell therapies targeting COVID-19. In January 2020, researchers from the University of Miami administered two stem cell infusions to COVID-19 patients suffering from lung damage. The results concluded that there were no significant side effects, and the therapy was reliable. Thus, increasing demand for regenerative medicines has had a positive effect on the stem cell therapy market during the COVID-19 pandemic.

Medipost; NuVasive Inc.; JCR Pharmaceuticals Co. Ltd.; AlloSource; Holostem Terapie Avanzate S.R.L.; Mesoblast Ltd.; U.S. Stem Cell, Inc.; Biotime, Inc.; RichSource; Caladrius; and TiGenix NV (Takeda Pharmaceuticals) are among the leading companies operating in the global stem cell therapy market.

The global stem cell therapy market is segmented on the basis of type, treatment, application, end user, and geography. Based on type, the market is segmented into adult stem cell therapy, induced pluripotent stem cell therapy, embryonic stem cell therapy, and other stem cell therapy. By treatment, the stem cell therapy market is bifurcated into allogeneic and autologous. In terms of application, the stem cell therapy market is segmented into musculoskeletal, dermatology, cardiology, drug discovery and development, and other applications. Based on end user, the market is segmented into academic & research institutes and hospitals & clinics. In terms of geography, the stem cell therapy market is segmented into North America (US, Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, and Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia Pacific), the Middle East & Africa (UAE, Saudi Arabia, Africa, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America).

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