Based on type, the stem cell therapy market is segmented into adult stem cell therapy, induced pluripotent stem cell therapy, embryonic stem cell therapy, and other stem cell therapy. In 2022, the adult stem cell therapy segment accounted for the largest market share. The induced pluripotent stem cell therapy segment is expected to register the highest CAGR during the forecast period.

Based on treatment, the stem cell therapy market is bifurcated into allogeneic and autologous. The allogenic segment held a larger market share in 2022. The autologous segment is expected to register a higher CAGR during the forecast period.

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Based on application, the stem cell therapy market is categorized into musculoskeletal, dermatology, cardiology, drug discovery and development, and other applications. The musculoskeletal segment held the largest market share in 2022. The drug discovery and development segment is expected to register the highest CAGR during the forecast period.

Based on end user, the stem cell therapy market is segmented into academic & research institutes and hospitals & clinics. The hospitals segment held the larger market share in 2022, and it is expected to register the higher CAGR during the forecast period.

Based on geography, the stem cell therapy market is segmented into North America (US, Canada, and Mexico), Europe (UK, Germany, France, Italy, the Netherlands, and Rest of Europe), Asia Pacific (China, Japan, India, Australia, Thailand, and Rest of Asia Pacific), the Middle East & Africa (UAE, Saudi Arabia, South Africa, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America).

Increasing Research Activities Related to Stem Cell Therapy for Effective Disease Management Bolster Market Growth

Stem cell therapy has been widely investigated across the world. Stem cells are mainly used to replace dying cells and reconstruct damaged tissues. Based on the results of extensive stem cell research conducted so far, many scientists have claimed that these cells could probably be utilized to generate cures and treatments for diseases such as cancer and cardiovascular disease. Newly developed stem cell therapies involve replacing disease-causing cells with stem cells. Many potential treatments involving stem cells are in different phases of clinical trials. The FDA has also approved a few stem cell therapies involved in treating complications related to stem cell transplants. In September 2021, the US Food and Drug Administration (FDA) announced approval for "Ruxolitinib" for treating "graft-versus-host-disease" (GVHD) in patients aged 12 and above. Ruxolitinib provides a patient new hope that suffers from fatal complications associated with stem cell transplants.

Researchers are further investigating the use of stem cell therapy in treating autoimmune disorders. For example, stem cells can turn into the cells of damaged organs and are used in treating autoimmune diseases. Treatment is carried out using mesenchymal stem cells or fetal stem cells. Hematopoietic stem cells are currently used for treating more than 80 medical conditions, including immune system diseases, blood disorders, neurological disorders, metabolic disorders, genetic disorders, and cancer types such as leukemia and lymphoma.

The COVID-19 pandemic had a positive impact on the stem cell therapy market. The application of stem cells in the treatment of COVID-19 infection has gathered the attention of medical researchers, resulting in a higher number of clinical trials. Regenerative medicine based on cellular therapies may be developed as a treatment option for patients, lowering infection rates and mortality. Research institutes and companies are collaborating to develop novel treatment options for COVID-19. For instance, in April 2020, Infectious Disease Research Institute and Celularity announced that the US FDA had approved a clinical trial application to develop cell-based therapy for COVID-19. Thus, researchers are increasingly attempting to develop stem cell therapies targeting COVID-19. In January 2020, researchers from the University of Miami administered two stem cell infusions to COVID-19 patients suffering from lung damage. The results concluded that there were no significant side effects, and the therapy was reliable. Thus, increasing demand for regenerative medicines has had a positive effect on the stem cell therapy market during the COVID-19 pandemic.

Major players in the stem cell therapy market include Medipost, NuVasive Inc., JCR Pharmaceuticals Co. Ltd., AlloSource, Holostem Terapie Avanzate S.R.L., Mesoblast Ltd., U.S. Stem Cell, Inc., Biotime, Inc., RichSource, Caladrius, and TiGenix NV (Takeda Pharmaceuticals).

Increasing Organic and Inorganic Strategies by Key Players

The key market players are taking up various organic and inorganic strategies, including mergers and acquisitions, expansions, and new product launches, to stay competitive in the market.
In October 2022, Medipost (CEO Won-Il Oh) announced the launch of its Contract Development and Manufacturing Organization (CDMO) business for cell and gene therapy products in Korea. The company announced its new GMP facilities will house 10 cleanrooms and production facilities equipped with up-to-date equipment exclusively for CDMO.
In December 2019, Lineage Cell Therapeutics and AgeX Therapeutics, in partnership, registered a US patent for the method of generating induced pluripotent stem cells.
In June 2021, Allogene Therapeutics, Inc. announced that the U.S. Food and Drug Administration (FDA) has granted Fast Track designation to ALLO-605, the Company’s next-generation AlloCAR T therapy targeting BCMA for the treatment of relapsed or refractory multiple myeloma. The FDA granted Fast Track designation based on the potential of ALLO-605 to address the unmet need for patients who have failed other standard multiple myeloma therapies.
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