Stem cells are undifferentiated biological cells that can differentiate into specialized cells and can divide to produce more stem cells. There are various types of stem cells including embryonic stem cells, adult stem cells, induced pluripotent stem cells, etc. Stem cell therapies offer potential treatment for diseases such as cancer, heart disease, diabetes, neurodegenerative disorders, etc. Major applications of stem cells include cell-based research, therapies, and drug discovery. Regenerative medicine is one of the key application areas for stem cells, aiming to repair or replace damaged cells and tissues to restore normal function. Increasing prevalence of chronic diseases and growing adoption of regenerative therapies are expected to drive the growth of the stem cells market.
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 7.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Increasing Stem Cell Therapy Applications: One of the major drivers spurring the growth of the stem cells market is the increasing applications of stem cell therapies. Stem cell therapies offer potential treatment for various chronic and degenerative diseases. Growing R&D investment by pharmaceutical companies towards development of novel regenerative therapies using stem cells is also fueling the market growth. According to the International Society for Stem Cell Research, as of 2021, over 1,000 stem cell clinical trials were underway globally to evaluate the safety and efficacy of stem cell therapeutics. Development of novel therapies is expected to broaden applications of stem cells in the coming years.
Rising Prevalence of Chronic Diseases: Chronic diseases including cancer, diabetes, heart disease are major public health issues. According to the World Health Organization, chronic diseases accounted for approximately 60% of all deaths worldwide in 2015. Growing chronic disease burden is putting pressure on healthcare systems around the world. Stem cell therapies are emerging as promising alternative treatment option for many chronic diseases. Increasing chronic disease prevalence is thus expected to significantly propel the demand for stem cell therapies over the forecast period.
The global stem cells market is segmented into adipose tissue-derived MSCs, bone marrow-derived MSCs, cord tissue/embryo-derived MSCs, and various other stem cell types. Bone marrow-derived MSCs currently dominate the market, accounting for over 30% market share in 2024, owing to their ease of isolation and culture. Adipose tissue-derived MSCs segment is expected to witness the highest growth during the forecast period due to the non-invasive isolation procedure of adipose tissue and high yield of MSCs as compared to other sources.
Political: Support from governments worldwide in the form of funding and favorable regulations is promoting the growth of stem cell research. However, ethical issues around the use of embryos still remain a challenge.
Economic: Rising incidence of chronic diseases and growing geriatric population driving the demand for stem cell therapy. High treatment costs and lack of insurance coverage in some countries can restrain the market.
Social: Social acceptance of stem cell therapy is increasing due to successful clinical trials. However, the use of embryos is still opposed in some communities due to ethical concerns.
Technological: Advancements in cell culture techniques, development of better genetic engineering tools, and establishment of induced pluripotent stem cells have expanded the potential of stem cell therapy in regenerative medicine.
Global Stem Cells Market Size is expected to witness high growth at a CAGR of 7.9% during the forecast period of 2023 to 2030. The market size is projected to reach US$ 12.9 Bn by 2024 from US$ 8.7 Bn in 2019.
Regional analysis: North America currently dominates the global stem cells market owing to presence of advanced healthcare facilities and high healthcare spending. Asia Pacific is anticipated to witness the fastest growth during the forecast period driven by rising medical tourism, increasing healthcare expenditures, and improving research infrastructure in countries such as China and India.
Key players: Key players operating in the stem cells market are Abzena Ltd., Clarivate, Immunetrics Inc., GNS Healthcare, Dassault Systemes, Evotec, Novadiscovery, Insilico Medicine Inc., and InSilicoTrials Technologies, among others. These players are focusing on expanding their product portfolios and geographical presence through partnerships and mergers & acquisitions.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it