The global stem cell source market is expected to grow at a significant CAGR during the forecast period (2021-2027). The growing use of stem cells in regenerative medicine is driving the market growth. The rise in the number of chronic diseases such as heart disease, diabetes, cancer, and others globally is driving market growth. According to Heart Research institute UK, over the age of 40 people with general good health have 50% chance of developing serious Atherocerosis, which is a kind of heart disease. According to the Diabetic Community of the UK, there were 415 million diabetics patient globally in 2019. Regenerative medicines are generated with stem cells to restore damaged tissue and are used to treat a variety of ailments. The increased number of clinical trials for regenerative medicines, as well as the advancement of stem cell-based therapeutics, is creating opportunities for market participants. According to Change.org, Inc., 64% of Americans support federal financing for chronic disease research with stem cells derived from human embryos. Internationally, major government investments in stem cell research are being made, with Asia being one of the most suitable regions. The National Institutes of Health (NIH) has increased its funding for stem cell research in recent years.
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In addition, increase in stem cell banking services is expected to boost the market growth. The umbilical cord blood contains a pool of hematopoietic and mesenchymal stem cells that can be retained for eventual use after childbirth. Hematological disease such as leukaemia, lymphoma, and sickle cell anaemia can all be treated with preserved blood. The expense of storage is significant, and the American Academy of Pediatrics estimates that 1 in 1,000 people will require cord blood stem cells. Nonetheless, parents choose storage, and over 20,000 people in the US have undergone some kind of surgeries which used the stored umbilical cord blood.
The key companies operating in the industry are highly inclined towards the adoption of different growth strategies including partnerships and collaborations, mergers and acquisitions, geographical expansion, new product launches, to remain competitive in the marketplace. For instance, in March 2021, OrganaBio released the HematoPAC ASC-cb CD34 hematopoietic stem cell product in order to support HSC-based allogeneic cell therapy.
Market Coverage
- The market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
Segment Covered-
- By Type
- By Application
Regions covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape: BD Biosciences, Thermo Fisher Scientific, Inc., and Merck KGaA, among others.
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Global Stem Cell Source Market Report by Segment
By Type
- Bone Marrow
- Blood
- Others
By Application
- Regenerative Medicines
- Drug Discovery and Development
Global Stem Cell Source Market Report by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East & Africa
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