Rising demand for organ transplantation will boost the stem cell therapy market in coming years. Stem cells have the ability of self-renewal, differentiation and pluripotency that are widely used for the treatment of traumatic brain injury, Parkinson’s disease, blindness, wound healing and Crohn’s disease. Moreover, hematopoietic stem cell transplantation has been successfully used in the treatment of leukemia. Such wide-ranging applications of stem cell therapy fosters industry growth.
From past few years stem cell banking is gaining more importance in the industry due to technological advancements. Additionally, growing awareness among people regarding stem cell storage worldwide should upsurge stem cell therapy industry revenue size. Furthermore, rising government initiatives and support for stem cell banking will further enhance the business growth. However, ethical concerns related the storage of embryonic stem cell may obstruct the stem cell therapy industry growth over the coming years.
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Adult stem cell segment will witness robust growth during the forecast timeframe. It is also called as somatic stem cells found in juvenile humans and animals. Lower rejection rates, minimal ethical issues coupled with long-term renewal property related to stem cells (SCs) are factors that propels segment growth.
Musculoskeletal disorders segment accounted for considerable revenue share in 2018 owing to increasing number of commercialized stem cell therapy products for nursing of musculoskeletal disorders. Furthermore, rising musculoskeletal disorders is expected to render positive impact on segment growth during the forecast timeline.
- Anterogen Co, Ltd
- Gamida Cell
- Golden Meditech
- Holostem Terapie Avanzate S.r.l.
- JCR Pharmaceuticals Co., Ltd.
- MEDIPOST Co., Ltd.
- NuVasive, Inc.
- Osiris Therapeutics, Inc.
- Pharmicell Co, Ltd
- RTI Surgical, Inc
- VCANBIO Cell & Gene Engineering Corporation, Ltd
Autologous stem cell therapy segment will witness significant growth in coming years. An autologous transplant uses a patient’s own stem cell for recovering from any diseases. Infection risk associated with this cell-based therapy is less thus, enhances its adoption that further boosts the business growth.
- Cryopreservation segment will grow substantially during the analysis timeframe. It is a technique used for preserving living tissues and cells. Cryopreservation is important for all stem cell types, but it is very critical for the storage of umbilical cord blood, that rises its future demand. It is a useful technology in storing the cells and tissues for a longer period of time that further augments the segmental growth.
- Bone marrow derived mesenchymal SCs segment will grow considerably during the forecast timeframe due to its remarkable spectrum of functional properties. Bone marrow transplant is a treatment for some type of cancers such as multiple myeloma, neuroblastoma, leukemia, or other types of lymphoma that enhances the segmental growth. Moreover, protection of injured neurons as well as replacement of damaged cells are factors that will upsurge huge demand for stem cell in coming years.
- North America stem cell therapy market witness robust growth over forthcoming years. The growth is attributed to rising number of clinical trials for stem cell industry and growing incidence of cancer. Moreover, ongoing research on stem cell therapy is expected to offer immense industry growth opportunities.
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- Few prominent players in the stem cell therapy market includes Anterogen, AlloSource, Gamida Cell, Golden Meditech, Holostem Terapie Avanzate, JCR Pharmaceuticals, MEDIPOST, NuVasive, Osiris Therapeutics, Pharmicell, RTI Surgical and VCANBIO Cell & Gene Engineering. Eminent business players focus on various strategies to maintain their position in the market. For instance, in April 2019, Golden Meditech collaborated with HKBU University, to cure neurodegenerative diseases with the help of stem cells. This collaboration is expected to assist in treatment of neurodegenerative diseases that can gain patents and research results that can benefit patients in Greater China region as well as across the globe.
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