Northrook, IL -- (SBWIRE) -- 05/05/2020 -- Growth in the stem cell therapy market is fuelled by the increasing number of scientific research activities focused on utilizing the therapeutic potency of stem cells for disease treatment, and the introduction of stem cell line banking. The development of induced pluripotent stem cell (iPSC) lines has also contributed to the growth of this market. The growing socio-ethical issues associated with embryonic stem cells have led to the increased adoption of iPSCs as alternatives.

[120 Pages Report] The global stem cell therapy market is a highly competitive market. This market is estimated to reach USD 145.76 million by 2021 from USD 86.5 million in 2016, at a CAGR of 11.0% during the forecast period.

Market Dynamics:

Stem cell therapies possess significant potential in the treatment of various diseases and injuries. With several public and private organizations playing an active role in funding and encouraging stem cell-based research programs, the global stem cell therapy market is expected to grow at a significant pace during next decade. The stem cell therapy market comprises a range of stem cell-based products which are utilized for the treatment of various diseases such as cancer, acute graft-vs-host disease (GvHD), tissue regeneration, as well as wounds and injuries

Stem cell therapy has been acclaimed to bring significant and revolutionary changes in the field of disease management strategies and patient care. These products offer effective treatment of conditions such as cancer, aGVHD, and vascular diseases.

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On the basis of therapeutic applications, the stem cell therapy market is classified into musculoskeletal disorders, wounds and injuries, cardiovascular diseases, gastrointestinal diseases, surgery, and other therapeutic applications. The musculoskeletal disorders segment dominates the global stem cell therapy market in 2016, owing to factors such as larger number of commercialized stem cell therapy products for the treatment of musculoskeletal disorders and the increasing prevalence of musculoskeletal disorders (coupled with the growth in geriatric population).

On the basis of cell source, the stem cell therapy market is segmented into adipose tissue-derived mesenchymal stem cells (MSCs), bone marrow-derived MSCs, cord blood/embryonic stem cells (SCs), and other stem cell lines. The adipose tissue-derived MSCs segment dominates the global stem cell therapy market in 2016. The growth of this segment is attributed to the growing demand for easy and accessible stem cell source and wide range of therapeutic applications offered by adipose tissue-derived stem cells. However, the bone marrow-derived MSCs segment is projected to witness the highest CAGR during the forecast period

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North America dominated the market.

North America (comprising the US and Canada) accounts for the largest share of the global stem cell therapy market in 2016, followed by Asia-Pacific. Factors such as rising public awareness related to the therapeutic potency of stem cells in disease therapy, growing number of clinical trials that aim to evaluate the therapeutic potential of stem cell-based products, increasing public-private funding & research grants for developing safe and effective stem cell therapy products, and growing patient base for target diseases (such as cancer, leukemia, neurodegenerative disorders, cardiovascular diseases, and gastrointestinal diseases) are driving the growth of the North American stem cell therapy market.

Key Market Players

The global stem cell therapy market was dominated by Osiris Therapeutics, Inc. (US), MEDIPOST Co., Ltd. (South Korea), Anterogen Co., Ltd. (South Korea), Pharmicell Co., Ltd. (South Korea), Holostem Terapie Avanzate S.r.l. (Italy), JCR Pharmaceuticals Co., Ltd. (Japan), NuVasive, Inc. (US), RTI Surgical, Inc. (US), and AlloSource (US) among others.