by Market Overview:
Mesenchymal stem cells (MSCs) are multipotent stromal cells that can differentiate into a variety of cell types, including osteoblasts, chondrocytes, and adipocytes. They have important applications in the field of regenerative medicine and tissue engineering due to their differentiation and immunomodulatory properties. MSCs can be isolated from adult and fetal tissues, including bone marrow, adipose tissue, peripheral blood, and dental pulp. They are being studied for the treatment of different diseases such as graft-versus-host disease, Crohn’s disease, multiple sclerosis and cartilage damage.
The mesenchymal stem cells market is estimated to be valued at US$3.05 Bn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Increasing prevalence of chronic and degenerative diseases is a key factor driving growth of the global mesenchymal stem cells market. For instance, according to the Arthritis Foundation, by 2040, an estimated 78 million adults in the U.S. are projected to have doctor-diagnosed arthritis. Mesenchymal stem cells hold promising therapeutic potential for the treatment of arthritis. Second, rising investments in R&D activities related to stem cell therapies by pharmaceutical and biotechnology companies is also expected to propel the market growth over the forecast period. For instance, in April 2022, Mesoblast Ltd announced positive results from its Phase 3 trial evaluating remestemcel-L for treatment of acute gastrointestinal GvHD (graft-versus-host disease) in children.
Segment Analysis
The global mesenchymal stem cells market is segmented based on product type, application, source, and region. Based on product type, the market is divided into bone marrow, adipose tissue, and others. The bone marrow segment currently dominates the market as bone marrow is one of the richest sources of mesenchymal stem cells and has been used extensively in research and clinical applications.
PEST Analysis
Political: The regulations governing stem cell research differ from country to country. Stricter regulations can hamper the growth of the mesenchymal stem cells market.
Economic: The rising healthcare spending across major markets is anticipated to fuel market growth during the forecast period.
Social: Increasing awareness about potential therapeutic applications of mesenchymal stem cells is positively impacting the market.
Technological: Advancements in cell isolation, culture, and storage techniques are supporting the demand for mesenchymal stem cells.
Key Takeaways
The Global Mesenchymal Stem Cells Market Size is expected to witness high growth, exhibiting CAGR of 12% over the forecast period, due to increasing prevalence of chronic diseases. The market size for 2023 is estimated to be US$3.05 billion.
Regionally, North America is expected to dominate the global market during the forecast period. This is attributed to factors such as established healthcare infrastructure, high healthcare spending, and growing awareness about stem cell therapy. Asia Pacific is anticipated to exhibit the fastest growth rate over the coming years due to rising geriatric population, increasing healthcare expenditure, and growing research activities in countries like China and India.
Key players operating in the mesenchymal stem cells market are Lonza Group Ltd., Thermo Fisher Scientific Inc., Merck KGaA, and STEMCELL Technologies Inc. Lonza Group Ltd. offers mesenchymal stem cells for research applications from various sources like bone marrow, adipose tissue, etc. STEMCELL Technologies Inc. provides human mesenchymal stem cells, mesenchymal stem cell differentiation media and cell culture products for clinical and research use.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
