Global Stem Cell Market Value is Expected to Reach $28.49 Billion by 2022 - A Report by TBRC
The global stem cell market, valued at about $17.4 billion in 2018, is expected to grow to $28.49 billion at an annual growth rate of around 13% through 2022.
LONDON, Aug. 13, 2019 /PRNewswire/ -- There is an increase in the prevalence of chronic diseases worldwide which drives the global stem cell market. Stem-cell therapy is the use of stem cells to treat or prevent a disease or condition. Bone marrow transplant is the most widely used stem-cell therapy, but some therapies derived from umbilical cord blood are also in use. Currently, widely used stem cell treatment is the transplantation of blood stem cells to treat diseases and conditions of the blood and immune system, or to restore the blood system after treatments for specific cancers. According to the World Health Organization, by 2020, prevalence of chronic disease is predicted to increase by 57%. As the prevalence of chronic disease increases, people opting for stem cell-based treatment will rise, thus driving the market going forward. Currently, approximately 26,000 patients are treated with blood stem cells in Europe each year.
The global stem cell market, valued at about $17.4 billion in 2018, is expected to grow to $28.49 billion at an annual growth rate of around 13% through 2022.
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Players In The Stem Cell Market Are Focusing On Development Of New Technologies
Major players in the global stem cell therapeutics market include Anterogen Co., Ltd, Mesoblast Ltd, Osiris Therapeutics, Inc, AlloSource, and Cellular Engineering Technologies. Companies in the market are focusing on development of new technologies such as the Induced Pluripotent Stem Cells (IPSC) to boost the efficiency of stem cell therapies. IPSC are obtained from blood or skin cells that are reprogrammed to an embryonic-like pluripotent state by incorporating genes that are essential for maintaining key properties and growth of an unlimited source of any kind of human cell required for stem cell therapeutic purposes. These IPSC's are not derived from human embryos, which removes the bioethical issues, thus allowing scientists to obtain federal funding and support easily. In 2018, a Japanese company, Oksara opened a medicine center that produced cells derived from iPS Cells. Similarly, in 2016, Takar Bio company launched human iPSC derived Beta Cells i.e. Cellartis® for disease modeling and drug discovery.
Low Acceptance Of Stem Cell Therapy Will Restrain Market Growth
The low acceptance rate for stem cell therapy treatments is restraining the growth of the stem cell market. The acceptance rate is particularly low in the Embryonic stem cell therapeutics. Most of these stem cell therapies are yet to be proven in clinical trials and are highly experimental. Due to the nature of these unproven treatments, patients are reluctant to take up these therapies as they present serious health, personal and financial issues. For example, if a person undergoes an unproven or experimental treatment it might make that person ineligible for future clinical trials or treatment options. In 2017, in an unproven stem cell offering, three elderly women were blinded after getting stem cells derived from fat tissue, at a clinic in Florida, US. These factors are limiting the number of people opting for stem cell therapies, thus restraining the growth of the market.
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Government Regulations In The Stem Cell Market
The Food and Drug Administration's Center for Biologics Evaluation and Research (CBER) is the regulator in the US, for human cells, tissues, and cellular and tissue-based products (HCT/P) intended for implantation, transplantation, infusion or transfer into a human recipient, including hematopoietic stem cells. There are certain protocols that the FDA has established, for example, the current good tissue practice, donor screening and donor testing requirements which are in place to prevent the transmission of any communicable diseases. The stem cells come from different sources (bone marrow, umbilical cord blood or peripheral blood) and have different applications. Licenses are required to distribute and market these products.
Merger And Acquisition Activity In The Stem Cell Market
Celgene Corporation acquired Juno Therapeutics in March 2018, for $9 billion. With this acquisition, Celgene will be positioned to become a leader in cellular immunotherapy. It is expected that with the addition of Juno's JCAR017 therapy to their portfolio and other cellular immunotherapy products in Juno's pipeline, Celgene would accelerate its revenue diversification. Juno Therapeutics, founded in 2013, is a Seattle-based biotech company which is into cutting-edge cancer immunotherapy treatments.
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