CHICAGO, July 11, 2019 /PRNewswire/ -- According to the new market research report "Stem Cell Therapy Market by Type (Allogeneic, Autologous), Therapeutic Application (Musculoskeletal, Wound & Injury, CVD, Surgery, and aGVHD), Cell Source (Adipose tissue, Bone Marrow, Neural, Embryo/Cord Blood derived, iPSCs) - Global Forecasts to 2021", published by MarketsandMarkets™, the global Stem Cell Therapy Market during the forecast period of 2016 to 2021. The market is expected to reach USD 145.8 Million by 2021, growing at a CAGR of 11.0% during the forecast period.
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Factors such as the growing awareness related to the therapeutic potency of stem cells in disease management, development of advanced genome-based cell analysis techniques, increasing public-private investments for stem cell research, identification of new stem cell lines, and developments in infrastructure for stem cell banking and processing are propelling the growth of the global Stem Cell Therapy Market.
On the basis of type, the global Stem Cell Therapy Market is divided into two major categories, namely, allogeneic stem cell therapy and autologous stem cell therapy. The allogeneic stem cell therapy segment is expected to command the largest share in the global Stem Cell Therapy Market in 2016. This large share can primarily be attributed to the rising commercialization of allogeneic stem cell therapy products, wider therapeutic applications of allogeneic stem cells, easy production scale-up process, and growing number of clinical trials related to allogeneic stem cell therapies.
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On the basis of therapeutic application, the global Stem Cell Therapy Market is segmented into musculoskeletal disorders, wounds and injuries, cardiovascular diseases, surgeries, gastrointestinal diseases, and other applications. The musculoskeletal disorders segment is expected to command the largest share of the global Stem Cell Therapy Market in 2016. This large share can be attributed to the rising availability of stem cell-based products for the treatment of musculoskeletal disorders, high prevalence of musculoskeletal disorders and bone & joint diseases, and growing patient preference for effective & early treatment strategies.
North America is expected to be the largest regional segment in the global Stem Cell Therapy Market in 2016, followed by Asia-Pacific. In addition, the North American Stem Cell Therapy Market is expected to be the fastest growing region during the forecast period. Factors such as growing awareness related to the therapeutic potency of stem cells, increasing number of clinical trials for stem cell-based products, and increasing public-private funding & research grants are driving the growth of this market.
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As of 2015, Osiris Therapeutics, Inc. (U.S.), 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. (U.S.), RTI Surgical, Inc. (U.S.), and AlloSource (U.S.) are some of the key players operating in the global Stem Cell Therapy Market.
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