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Stem Cell Therapy Global Market Report 2021: COVID-19 Growth And Change To 2030

ReportLinker
·4-min read

Major players in the stem cell therapy market are Anterogen, JCR Pharmaceuticals, Medipost, Osiris Therapeutics, Pharmicell, Astellas Pharma, Cellectis, Celyad, Novadip Biosciences, and Gamida Cell.

New York, April 27, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Stem Cell Therapy Global Market Report 2021: COVID-19 Growth And Change To 2030" - https://www.reportlinker.com/p06064499/?utm_source=GNW

The global stem cell therapy market is expected to grow from $8.62 billion in 2020 to $10.2 billion in 2021 at a compound annual growth rate (CAGR) of 18.3%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $20.87 billion in 2025 at a CAGR of 20%.

The stem cell therapy market consists of the sales of stem cell therapy and related services by entities (organizations, sole traders, and partnerships) that provide stem cell therapy.Stem cell therapy, also known as regenerative medicine, promotes the repair response of diseased patient, dysfunctional or injured tissue using stem cells or their derivatives.

Only goods and services traded between entities or sold to end consumers are included.

The stem cell therapy market covered in this report is segmented by type into allogeneic stem cell therapy, autologous stem cell therapy. It is also segmented by cell source into adult stem cells, induced pluripotent stem cells, embryonic stem cells, by application into musculoskeletal disorders, wounds and injuries, cancer, autoimmune disorders, others, and by end-user into hospitals, clinics.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The high cost of stem cell therapy is expected to limit the growth of the stem cell therapy market.The pressure to contain costs and demonstrate value is widespread.

Political uncertainty and persistent economic stress in numerous countries are calling into question the sustainability of public health care funding.In less wealthy countries, the lack of cost-effective therapies for chronic diseases has impacted the health conditions of the population and has led to a low average life expectancy.

According to the DVCSTEM, the average cost of stem cell therapy in the USA is between $20,000 to $25,000, in Mexico, it is $33,000, in Central America, it is $30,000, and in Asia, it is $50,000, thus restraining the growth of the market.

In September 2019, Vertex Pharmaceuticals Inc, a US-based biopharmaceutical company, announced its decision to acquire Semma Therapeutics, a private biotechnology company, for $950 million.The acquisition is expected to align with Vertex’s strategy of investing in scientific innovation that creates transformative medicine for patients with serious diseases.

Semma Therapeutics is a US-based company that is involved in using stem cell therapy for diabetes treatment.

The rising prevalence of chronic diseases contributed to the growth of the stem cell therapy market.Long working hours, limited physical activity, and unhealthy eating and drinking habits contribute to the prevalence of chronic diseases among people, thus driving the need for stem cell therapy.

According to a United Nations article, by 2030, the proportion of global deaths due to chronic diseases is expected to increase to 70% of total deaths.The global burden of chronic diseases is expected to reach about 60%.

The rising prevalence of chronic diseases is expected to drive the stem cell therapy market.

The companies in the stem cell therapy market are increasingly investing in strategic partnerships.The strategic partnership is a mutually beneficial agreement between two companies that do not compete directly with each other.

For instance, in September 2018, CRISPR Therapeutics, a biotechnology company that develops transformative medicine using the gene-editing platform for serious diseases, and ViaCyte, a California-based regenerative medicine company, collaborated for the development and commercialization of allogeneic stem cell therapies for diabetes treatment.

The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06064499/?utm_source=GNW

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