Market Size of Global Stem Cell Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 17.78 Billion |
| Market Size (2029) | USD 28.00 Billion |
| CAGR (2024 - 2029) | 9.52 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Stem Cells Market Analysis
The Global Stem Cell Market size is estimated at USD 17.78 billion in 2024, and is expected to reach USD 28 billion by 2029, growing at a CAGR of 9.52% during the forecast period (2024-2029).
The growth of the market is attributed to the rising number of clinical trials and the growing adoption of stem cell therapies globally. In the context of COVID-19, government organizations in various countries, research institutes, and many biotech and pharmaceutical firms are focusing on effective and rapid technologies for the fast diagnosis of COVID-19. According to a research article titled "Mesenchymal Stem Cell Therapy for COVID-19: Present or Future" published in April 2020, mesenchymal stem cells are a safe and effective approach to the treatment of COVID-19. Mesenchymal Stem Cells (MSCs)-based immunomodulation treatment has been proposed as a suitable therapeutic approach and several clinical trials have begun. The positive results from such studies can lead to the development of new therapies for COVID-19 and thus can propel the growth of the market.
Factors such as increased awareness about umbilical stem cells and growing demand for regenerative treatment options, coupled with rising research and development initiatives to develop stem cell therapies and increasing approvals for clinical trials in stem cell research, are majorly driving the growth of the market.
The area of stem cell-based therapies garners significant investments, and various clinical trials that require considerable support for expenditure are currently underway. Companies are fundraising to develop stem cell-based therapies to tackle many diseases. For instance, in January 2022, Cellino Biotech, a cell therapy manufacturing company, raised USD 80 million in Series A financing round. Cellino plans to expand access to stem cell-based therapies by building the first autonomous human cell foundry in 2025. As the applications of stem cell technologies in the treatment of diseases have ultimately increased, so has the overall adoption rate of these technologies across the world. This has led to increased investments by the market players for the development of novel therapies in this area.
Additionally, the initiatives taken by the government to support the research studies are also contributing to the growth of the market. For instance, in June 2020, the Australian Government funded USD 5.9 million for eight medical research projects to find new and innovative stem cell treatments for incurable diseases, including leukemia, Parkinson's disease, and epilepsy.
Thus, owing to the abovementioned factors, the market is expected to project significant growth over the forecast period. However, expensive procedures and regulatory complications, as well as ethical and moral frameworks, may hinder the growth of the market.
