GlobalStem Cell Therapy Market,by Cell Source (Adult Stem Cells, Induced Pluripotent Stem Cells, Embryonic Stem Cells, and Others), by Application (Musculoskeletal Disorders, Wounds and Injuries, Cancer, Autoimmune Disorders, and Others), and byRegion(North America, Latin America, Europe, Asia Pacific, Middle East, and Africa),was valued atUS$ 7,313.6million in 2018, and is expected to exhibit a CAGR of21.1%over the forecast period (2019-2027),as highlighted in a new report published by .Increasing application of stem cells for the treatment of patients with blood-related cancers, spinal cord injury and other diseases are the leading factors that are expected to drive growth of stem cell therapy market over the forecast period.

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According to the National Spinal Cord Injury Statistical Center, 2016, the annual incidence of spinal cord injury (SCI) is approximately 54 cases per million population in the U.S. or approximately 17,000 new SCI cases each year. Moreover, according to the Leukemia and Lymphoma Society, 2017, around 172,910 people in the U.S. were diagnosed with leukemia, lymphoma or myeloma in 2017, thus leading to increasing adoption of stem cells for its efficient treatment. Increasing product launches by key players such as medium for developing embryonic stem cells is expected to propel the market growth over the forecast period.

For instance, in January 2019, STEMCELL Technologies launched mTeSR Plus, a feeder-free human pluripotent stem cell (hPSC) maintenance medium for avoiding conditions associated with DNA damage, genomic instability, and growth arrest in hPSCs. With the launch of mTeSR, the company has expanded its portfolio of mediums for maintenance of human embryonic stem (ES) cells and induced pluripotent stem (iPS) cells.

Increasing research and development of induced pluripotent stem cells coupled with clinical trials is expected to boost growth of the stem cell therapy market over the forecast period. For instance, in April 2019, Fate Therapeutics in collaboration with UC San Diego researchers launched Off-the-shelf immunotherapy (FT500) developed from human induced pluripotent stem cells. The therapy is currently undergoing clinical trials for the treatment of advanced solid tumors.

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North America is expected to hold a dominant position in the stem cell therapy market over the forecast period, owing increasing number of clinical trials to cater to unmet medical needs of the patients is a major factor driving growth of the stem cell therapy market. For instance, in April, 2019, UCLA-UCI Alpha Stem Cell Clinic participated in a new clinical research study to investigate a stem cell product CTX0E03 DP, in order to improve function in people with chronic disability from ischemic stroke. The study, called PISCES III, is currently in phase IIb clinical study. Moreover, manufacturers are focused on collaborating with academic researchers to help expand the potential use of newborn stem cell therapies that may be available to patients, which is expected to facilitate growth of the market over the forecast period. For instance, in February 2018, the Institute of Integrative Biology entered into a collaboration with Anika Therapeutics, Inc., to develop an injectable mesenchymal stem cell (MSC) therapy for the treatment of osteoarthritis in patients.

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Stem Cell Therapy Market to Score Past US$ 40.3 Billion Valuation by 2027: At a CAGR of 21.1% KSU | The Sentinel Newspaper - KSU | The Sentinel...