Stem Cells Market Is Estimated To Witness High Growth Owing To Advanced Therapies

 

Stem Cells Market
Stem Cells Market

The Stem Cells Market is estimated to be valued at Us$ 12.9 Bn or Mn in 2023 and is expected to exhibit a CAGR Of 9.1% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:


Stem cells are cells that have the ability to differentiate into specialized cells and can divide to produce more stem cells. They have wide range of therapeutic applications such as treating diseases like cancer, blood disorders, diabetes, and cardiac disorders. With increasing prevalence of chronic diseases, stem cell therapy offers promising treatment for various incurable diseases.

Market key trends:


Stem cell therapy has emerged as a potential treatment for various incurable diseases. One of the major trends in the stem cell market is the increasing research on using stem cells for advanced regenerative therapies. Numerous clinical trials are being conducted to evaluate stem cell efficacy in treatments of diseases like Parkinson's, Alzheimer's, diabetes and heart disease. Researchers are also working on developing suitable techniques for isolation, characterization and differentiation of stem cells into specialized cells. Furthermore, development of new stem cell banking techniques catering to long term preservation of stem cells is also contributing to the market growth over the forecast period.

Porter's Analysis


Threat of new entrants: New players can enter the stem cells market with relative ease as the required investment is moderate. However, established players have significant competitive advantages in terms of brand recognition, access to distribution channels and patents.

Bargaining power of buyers: The bargaining power of buyers is moderate. However, pricing pressure mounts as buyers have many options to choose from due to the presence of several stem cell companies.

Bargaining power of suppliers: Suppliers have moderate bargaining power due to the availability of differentiated product offerings by different suppliers. However, switching costs are low.
Threat of new substitutes: Substitutes pose a moderate threat as innovative products are continuously entering the market.

Competitive rivalry: Fierce due to technological advancements and strong competition among key players.

SWOT Analysis


Strength: High growth opportunities due to wide applications in regenerative medicine. Increasing investments in research and development activities.

Weakness: Ethical issues associated with the use of embryonic stem cells. High costs associated with research and development.

Opportunity: Rising geriatric population driving demand for stem cell therapies. Increasing support from governments worldwide.

Threats: Stringent regulatory framework. Risk of failure or rejection of stem cell transplantation.

Key Takeaways


The global Stem Cells Market size was valued at US$ 12.9 Bn in 2023 and is expected to reach US$ 58.2 Bn by 2030, expanding at a CAGR of 9.1% during the forecast period. Increasing prevalence of chronic diseases such as cancer, diabetes, cardiovascular diseases and rising investments in stem cell research are the key factors propelling market growth.

Regionally, North America dominated the global market and accounted for around 35% of the total market share in 2023. This is attributed to the growing stem cell banking facilities and rising government funding for stem cell research in the region. Asia Pacific is anticipated to be the fastest growing market during the forecast period owing to rising medical tourism, increasing healthcare expenditure and growing geriatric population.

Key players operating in the stem cells market are Advanced Cell Technology, Inc., Angel Biotechnology Holdings PLC, Biotricity, Lineage Cell Therapeutics, Inc., BrainStorm Cell Limited., CIRM, Celgene Corporation (A subsidiary of Bristol-Myers Squibb Company), Takara Bio Inc., Cellular Engineering Technologies., Cytori Therapeutics Inc., and STEMCELL Technologies. Major players are focusing on strategic collaborations and acquisitions to strengthen their market position.


Read More : https://www.newswirestats.com/the-emerging-prospects-of-stem-cells-market/

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