The global stem cell therapy market is anticipated to grow at 11.6% CAGR during 2021-2027 owing to the increased stem cell research activities, increased approval of GMP-certified facilities to develop stem cells. The rising demand for iPSCs which is a substitute to ESC s and the rising demand for cell & gene therapies will propel the growth of the stem cell therapy market. Furthermore, an increased number of clinical studies, rising pharmaceutical industry, increased demand for stem cell banking, the increased emphasis for the treatment of neurological illness and cerebrovascular diseases, and increasing focus on personalized medicine will further augment the growth of the stem cell therapy market.

The COVID19 outbreak has provided opportunities for stem cell therapy. There are several clinical studies of stem cell-based regenerative medicine conducted for patients with COVID19. Clinical trials are seen as an irreplaceable aspect of the pharmaceutical industry and are of utmost hope for patients suffering from illness.

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Based on type, allogeneic stem cell therapy dominates the stem cell therapy market owing to its ease in manufacturing and production processes and the increased availability of new stem cell products in various geographic locations. Furthermore, the allogeneic is highly adopted in cancer treatment owing to its graft vs cancer impact.

North America dominates the stem cell therapy market owing to the increased public-private funding, and grants granted to develop safe and effective stem cell therapy products, the rising number of cancer cases, and an increasing number of clinical trials will fuel the growth in the region. Furthermore, stem cell therapy has a lucrative approach to treat COVID-19 which will further drive the growth in the region.

In June 2021, AlloSource has founded Essent Biologics so as to provide stem cell offerings for biopharma and cell therapy research.
The prominent players in the stem cell therapy industry include Osiris Therapeutics, Inc., RTI Surgical, Inc., MEDIPOST Co., Ltd., Nuvasive, Inc., Pharmicell Co., Ltd., Holostem Terapie Avanzate Srl, JCR Pharmaceuticals Co., Ltd., Anterogen Co., Ltd., and Allosource.

Source: VynZ Research