According to the report available on Alexa Report, stem cell industry was valued at USD 105.24 million in 2017, demonstrating a CAGR of 12.33% over assessment period of 2018 to 2025. Further, market is estimated to expand and reach USD 266.72 million by the end of 2025. Rising awareness among populace regarding therapeutic potency of stem cell products and increasing federal funding and investments in R&D sectors are the factors showing positive impact on industrial growth across the globe.
Novel discoveries of stem cells are projected to boost product sales in the near future. Stem cell is a special human cell that has ability to develop into several different cell types such as brain cells, muscle cells, and others. Also, these cells are used to replace damaged or lost tissues and cells. Over the coming years, these cells are estimated to show positive impact on treating non-curable diseases like Alzheimer’s and paralysis disease.
Rising demand for stem cell productions in disease management owing to scientists are discovering new procedures to make human stem cells is estimated to escalate overall market growth in future. Moreover, developing enhanced infrastructure for stem cell banking is projected to boost market development in the forecast period i.e. from (2018 to 2025).
However, lack of skilled personnel’s and high investment cost correlated with stem cell production and banking are the factors hampering overall market growth. Moreover, rising focus on induced pluripotent stem cells and embryonic stem cells are estimated to create new market opportunities in future.
- Based on the product type, the culture media sector accounted for high market share owing to rising demand for stem cell therapies and research. Product sector comprise stem cell lines, culture media, instruments, and consumables.
- Cell and tissue banking application accounted for the high market share and is projected to grow at the highest CAGR in the near future. Rising awareness among populace regarding benefits of stem cells and increasing demand for cord blood stem cell banking are the factors boosting this segment.
- End-user wise, pharmaceutical and biotech industries are gaining huge market share owing to increasing public-private investments, rising demand for regenerative medicines, and patent expiry of branded drugs. End-users include CROs, hospitals, research laboratories, pharmaceutical and biotech industries, and tissue and cell banks.
- On regional basis, North America accounted for high market share owing to presence of enhanced research centers, increasing federal funding to support clinical evaluation of stem cells, and growing public awareness on the therapeutic potency of regenerative cells.
- Also, Asia Pacific is estimated to register highest CAGR in future owing to modernization and expansion of healthcare infrastructure across the developing countries in the region.
The global market is dominated by several leading manufacturers. The key manufacturers in the market are engaged in product approvals, acquisitions, and strategic associations to reinforce their market position. The key operators of stem cell industry are RTI Surgical, Inc., Medipost Co. Ltd., Nuvasive, Inc., Anterogen Co. Ltd., Osiris Therapeutics, Inc., Pharmicell Co., Ltd., JCR Pharmaceuticals Co., Ltd., and Holostem Terapie Avanzate Srl.