The global Stem Cells Market, by Type (Adult Stem Cells, Human Embryonic Stem Cells, Induced Pluripotent Stem Cells, Natural Rosette Cells, and Very Small Embryonic Like Stem Cells), by Application (Regenerative Medicine and Drug Discovery and Development), by Technology (Cell Acquisition, Cell Production, Cryopreservation, and Expansion and Sub-Culture), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) 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), as highlighted in a new report published by Coherent Market Insights.
Research and development in stem cells are expected to offer lucrative growth opportunities for players in the global stem cells market. For instance, in January 2020, researchers at MEDIPOST Co., Ltd., a biomedical research institute in South Korea, reported analysis of the effects of spheroid umbilical cord blood-derived mesenchymal stem cells (MSCs) and suggested a new therapeutic approach, 3D spheroid formation of MSCs, in order to enhance the regeneration process in the course of osteoarthritis.
Global Stem Cells Market – Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019, as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries, such as India, China, Brazil, and others, faced problems with regard to the transportation of drugs from one place to another.
COVID-19 had a positive impact on the global stem cells market. This is because of the increasing number of respiratory diseases that were reported during the COVID period. For instance, according to an article published on August 2, 2022, in Critical Care Medicine Journal, the demand for mechanical ventilators in the U.S. increased during the COVID-19 pandemic. The survey was conducted in the U.S. at different acute care hospitals and hospitals providing pediatric care. The increase in pediatric and neonatal mechanical ventilators was 15.6%.
Global Stem Cells Market: Key Developments
Major players in the market are focused on adopting collaboration and partnership strategies to expand their product portfolio.
For instance, in September 2020, Lineage Cell Therapeutics, Inc., a clinical-stage biotechnology company developing novel cell therapies for unmet medical needs, ES Cell International Pte Ltd. (A subsidiary of Lineage Cell Therapeutics, Inc.), and AgeX Therapeutics, Inc., a company focused on developing and commercializing innovative therapeutics for human aging, announced the broadening of their collaborative relationship with regard to ES Cell International Pte Ltd. stem cell lines.
Browse 36 Market Data Tables and 34 Figures spread through 170 Pages and in-depth TOC on “Global Stem Cells Market”- Forecast to 2030, Global Stem Cells Market, by Type (Adult Stem Cells, Human Embryonic Stem Cells, Induced Pluripotent Stem Cells, Natural Rosette Cells, and Very Small Embryonic Like Stem Cells), by Application (Regenerative Medicine and Drug Discovery and Development), by Technology (Cell Acquisition, Cell Production, Cryopreservation, and Expansion and Sub-Culture), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/stem-cells-market-4222
Key Takeaways of the Global Stem Cells Market:
- The global stem cells market is expected to exhibit a CAGR of 9.1% during the forecast period. The increasing number of stem cell banking resource centers is also expected to aid in the growth of market. For instance, in March 2020, StemLife Berhad, a cord blood bank in Malaysia, started a Stem Cell Banking Resource Center in Jerudong Park Medical Center, Brunei.
- Among application, the regenerative medicine segment is expected to grow in the global stem cells market over the forecast period. This is because regenerative medicines help restore the normal functioning of cells. Rapid advancements in this field are anticipated to provide effective therapies for chronic conditions. For instance, in March 2022, Wipro, an India-based multinational corporation that provides information technology, consulting and business process services, and Pandorum Technologies, an India-based biotechnology company, announced, a long-term partnership. Together, the companies plan to aim for the development of technologies that will reduce the time-to-market and boost the patient outcome during clinical trials and research and development of regenerative medicine. Biotech Pandorum will use Wipro’s AI facilities for the development of regenerative medicine and advanced therapeutics to enhance patient outcomes.
- Among region, North America is expected to be the dominant region in the global stem cells market, owing to the increasing research activities in this region. For instance, in January 2020, researchers at the University of Houston, a public research university in Texas. U.S., developed biologic cardiac pacemaker-like cells by taking fat stem cells and reprogramming them as an alternative treatment for heart conditions such as conduction system disorders and heart attacks.
- Major players operating in the global stem cells market include Advanced Cell Technology, Inc., Angel Biotechnology Holdings PLC, Biotricity, Lineage Cell Therapeutics, Inc., BrainStorm Cell Limited., CIRM, Celgene Corporation (A subsidiary of Bristol-Myers Squibb Company), Takara Bio Inc., Cellular Engineering Technologies., Cytori Therapeutics Inc., and STEMCELL Technologies.
