Stem Cells Industry to Receive Impetus from Burgeoning Demand for Cancer Treatment - Grand View Research, Inc.
SAN FRANCISCO, March 23, 2023 /PRNewswire/ -- The stem cells industry size will witness an upward growth trajectory on the back of the trend for precision medicine and the surging number of clinical trials, according to the "Stem Cells Industry Data Book, 2023 – 2030," published by Grand View Research. Alliance for Regenerative Medicine H1 2022 report noted that 2,093 trials were in progress globally as of June 2022. Besides, cell therapies made up the largest category of ongoing trials. In essence, concerted efforts to develop the treatment of heart disease, diabetes and cancer will augur innovation. Moreover, surging demand to boost healthy lifespan, grow hair in the right places and enhance cognitive abilities will reinforce the market growth.
Researchers have upped efforts towards the regenerative abilities of stem cells to treat diseases and the possible use of adult stem cell therapies, embryonic stem cell therapies and induced pluripotent stem cell therapies. For instance, embryonic stem cells have garnered immense popularity in repairing or regenerative diseased organs or tissue. An upsurge in the need to regenerate tissues and test new drugs for effectiveness and safety has spurred the demand for stem cells.
Regenerative medicine has garnered uptake across emerging and advanced economies following the need for stem cell transplants in cancer treatment. The transplants have become instrumental in helping recover the body's ability to produce stem cells post-treatment. Exponential demand for stem cell transplants for people with blood cancers, including leukemia, lymphoma and myeloma, has panned well for the industry growth.
Order your copy of the Free Sample of "Stem Cells Industry Data Book - Human Embryonic Stem Cells, Induced Pluripotent Stem Cells Production, Mesenchymal Stem Cells and Cancer Stem Cells Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030" Data Book, published by Grand View Research
Cancer stem cells market size was pegged at USD 2.59 billion in 2022 and will witness a healthy CAGR of 12.1% from 2023 to 2030. The growth trajectory is mainly due to the need to replace the damaged bone marrow with an autologous stem cell transplant. Autologous stem cell treatment will likely be sought for the treatment of plasma cell disorders, myeloma, Hodgkin's lymphoma and Non-Hodgkin's lymphoma.
Industry leaders have exhibited traction for mesenchymal stem cells in the wake of their ability to self-renew and develop multilineage differentiation. Research activities have become noticeable as MSCs are easily obtained and used for clinical trials from multiple tissue sources. The mesenchymal stem cells market size was valued at USD 3.02 billion in 2022 and will expand at an 11.4% CAGR during the forecast period. The rising trend is partly attributed to its growing clinical applications and role in angiogenesis and wound healing.
A few of the industry dynamics that are poised to have an influence on the global outlook are elucidated below:
- An uptick in the number of cell therapy production facilities has fueled growth. For instance, in December 2022, Catalent announced opening cell therapy manufacturing facilities (60,000 square feet) for autologous and allogeneic cell therapy.
- Bullish demand for Induced Pluripotent Stem Cells (IPSC) will encourage forward-looking companies to foster their market footprint.
- The Asia Pacific stem cells market will gain ground on the heels of the use of stem cells in regenerative medicine and transplant.
The U.S. and Canada are poised to contribute notably towards the global market against the backdrop of soaring cases of heart diseases, diabetes, leukemia and spinal cord. To illustrate, the American Cancer Society has projected 23,710 deaths from and around 59,610 new cases of leukemia in the U.S. for 2023. Besides, according to the U.S. CDC, approximately 697,000 people in the U.S. succumbed to heart disease in 2020. With the research on the development of stem cells for the treatment of degenerative diseases gaining ground, North America is poised to contribute significantly to the stem cells industry growth.
The competitive scenario indicates that well-established players and startups could inject funds into organic and inorganic strategies. It may include investments in technological advancements, innovation, research & development activities, collaboration and partnerships. For instance, in March 2023, The U.K.'s National Health Service Blood and Transplant opened a clinical biotech center to develop and produce cell and gene therapies, thereby bolstering the U.K.'s capacity to make viral vectors and DNA plasmids. Meanwhile, in January 2023, Athersys provided an update on clinical trials with MultiStem to treat acute ischemic stroke, trauma and other conditions.
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