In recent years, stem cell therapies have gained immense popularity across the world. This is due to their ability to effectively treat various chronic diseases. As a result, demand for stem cells is rising rapidly.
According to Coherent Market Insights, the global stem cells industry valuation is set to total US$ 23.7 billion by 2030. Further, global stem cell demand is forecast to increase at a strong CAGR of 9.1% during the assessment period.
Advanced Cell Technology, BrainStorm Cell Limited, STEMCELL Technologies, Takara Bio Inc., and Angel Biotechnology Holdings are few prominent players. These leading players are rigorously investing in research and development to explore new therapeutic areas for stem cells. New stem cell products are being constantly launched and approved for specific applications.
Companies are exploring novel technologies like CRISPR-Cas9, bioreactors, and 3D bioprinting to improve efficacy and effectiveness of stem cell therapies. Similarly, they are collaborating and partnering with academic institutions and research organizations to advance in stem cell genera.
Recent Developments
In July 2024, Bioserve India launched new advanced stem cell products in India. The new solutions are intended to support innovation in scientific research and drug development. They are designed to facilitate advancements in regenerative medicine and therapeutic discovery in the nation. The new stem cell product line includes media, growth factors, specialized culture media, tools for stem cell culture, small molecules for efficient iPSC generation, etc.
In July 2024, STEMCELL Technologies announced the commercial launch of the CellPore Transfection System. This new system has the potential to advance cell engineering research and the development of novel cell therapies to treat diseases. Apart from this, the company also unveiled various cell isolation and culture product portfolios. These new products are intended to equip the research community with the technology to advance the field of cell engineering.
Key Factors Propelling Stem Cells Industry Growth
Rising prevalence of cancer, diabetes, and other chronic diseases and growing interest in innovative therapies like stem cell therapy are driving the industry growth. Similarly, increasing demand for precision medicine is expected to fuel sales of stem cell products.
The growing incidence of chronic illnesses like cancer, heart problems, and neurological disorders represents a major global health issue. Treatment modalities that are both innovative and effective are desperately needed, as these diseases burden people, healthcare systems, and economies globally. In this context, stem cell therapy presents itself as a promising new area in contemporary medicine, providing innovative methods for treating these chronic illnesses.
Stem cell-based therapies are at the forefront of medical advancements, helping healthcare professionals to treat various chronic diseases. As a result, demand for stem cells in these therapies is rising rapidly.
Surging popularity of stem cell therapies is anticipated to boost the industry’s growth during the forecast period. Stem cell therapy is becoming a promising method for treating several chronic diseases, including genetic conditions, cancer, and autoimmune disorders.
Another key factor fueling growth is the increasing spending on cell therapy research by government and private organizations. Similarly, growing popularity of regenerative medicine and rising approvals of stem cell-based therapies by the FDA will benefit the industry.
Regional Insights
North America is anticipated to account for a prominent industry share during the forecast period. This is attributable to growing adoption of stem cells in regenerative medicine, cancer treatment, and other therapeutic applications. Similarly, increasing investments in stem cell research is set to inform the industry’s growth in North America.
