Stem Cell Therapy Market projected to reach $63.23 billion by 2031 due to increase in demand

From GlobeNewswire: 2024-06-24 05:10:00

The global Stem Cell Therapy Market is projected to reach US$ 63.23 Billion by 2031, growing at a CAGR of 22.6% from 2024. Researchers are optimizing protocols for isolating, processing, and administering stem cells to improve success rates. The market is driven by rising chronic diseases prevalence and stem cell banking, with applications in regenerating damaged tissues and treating chronic diseases.

Advanced research in stem cell biology is expanding, improving differentiation methods, and driving adoption of stem cell therapies. Market growth is fueled by growing awareness of their therapeutic potential. Companies are investing in R&D for advanced stem cell treatments, promoting cord blood banking, and focusing on regenerative medicine advancements.

The adult stem cells segment accounts for around 45% of the market share due to their ability to differentiate into a wide variety of cells, while musculoskeletal disorders application segment dominated in 2024. North America held the largest revenue share in 2024 and is expected to maintain dominance. Key players include Osiris Therapeutics, Inc., Kolon TissueGene, Inc., and JCR Pharmaceuticals Co., Ltd., among others.

Recent developments include Aspen Neuroscience receiving FDA approval for an experimental stem cell therapy for Parkinson’s disease and Cedars-Sinai Medical Center launching a clinic for stem cell and gene therapies. The global stem cells market is expected to exhibit a CAGR of 9.1% during the forecast period, with the cell therapy market showing a CAGR of 9.4%. The small scale bioreactors market is projected to grow at a CAGR of 10.6%, while the histology and cytology market is expected to exhibit a CAGR of 13.35%.



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