STEM CELLS MARKET ANALYSIS

Stem Cells MarketSize and Trends

The global stem cells market is estimated to be valued at US$ 12.9 Bn in 2023 and is expected to exhibit a CAGR of 9.1% during the forecast period (2023-2030).

Significant Research &Development expenditures are one of the major contributors to the market growth. Furthermore, the rising need for efficient therapies to lower the disease burden throughout the forecast period is another factor fueling the growth. For instance, Celavie Biosciences, a privately held company whose mission is to improve lives and restore hope by advancing regenerative stem cell therapies, completed its 5-year exploratory study on Parkinson's disease in May 2020. The company is working on regenerative stem cell therapies to treat Parkinson's disease and other central nervous system disorders. Celavie Biosciences announced that its preliminary clinical trials utilizing OK99 stem cells for Parkinson's disease were successful.

Figure 1. Global Stem Cells Market Share (%), by Type, 2023

Global Stem Cells Market – Driver

• Increasing collaborations, partnerships, and agreements: The increasing recognition of precision medicines is further promoting market growth. Scientists are finding new procurement methods that can be further utilized for the development of personalized medicines. For instance, induced pluripotent stem cells therapies are developed by utilizing a small amount of a sample from a patient’s skin or blood cell, which is later reprogrammed to form new tissue and cells for transplant. Moreover, in September 2022, Century Therapeutics, a biotechnology company that develops cell therapies for hematological and solid tumor malignancies, and Bristol-Myers Squibb Company, a U.S.-based multinational pharmaceutical company, announced a license agreement and research collaboration for the development and commercialization of Induced Pluripotent Stem Cells (iPSC)-derived allogeneic cell therapies. Hence, with the application of these cells coupled with strategic activities by market players, potential personalized medicines can be developed in the near future.
• Launch of novel technologies: The launch of novel technologies can drive the growth of the global stem cells market. For instance, in January 2021, REPROCELL Inc., a company that provides solutions for preclinical and clinical research, launched a new personalized induced pluripotent stem cells production service for generating patient-specific iPSC. The service will assist in the preparation and storage of an individual’s iPSC for the development of regenerative medicines to treat future illnesses or injury. They are developed from mature cells using ready-to-use RNA reprogramming technology.

Figure 2. Global Stem Cells Market Share (%), by Region, 2023