Burlingame, Nov. 21, 2023 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, Stem Cells Market size was valued at US$ 12.9 Billion in 2023 and is expected to surpass US$ 23.7 Billion by 2030 and is anticipated to witness a compound annual growth rate (CAGR) of 9.1% from 2023 to 2030. Strong product pipelines of therapies based on stem cells and a huge patient population base can help propel growth of the global stem cells market. Government funding to accelerate research on stem cells further strengthens the growth of the market. For instance, in February 2022, the government of India set up state-of-the-art stem cell research facilities in 40 leading health research and educational institutions. The government has also spent US$ 80.0 Million through the Indian Council of Medical Research (ICMR) since 2019 on stem cell research projects.

Market Drivers

Strategic activities by key market players to strengthen their product portfolios will further offer lucrative opportunities in the global stem cells market over the forecast period. For instance, in February 2022, Immatics N.V., a clinical-stage biopharmaceutical company active in the discovery and development of T cell-redirecting cancer immunotherapies, and Bristol Myers Squibb Company, a global biopharmaceutical company whose mission is to discover, develop, and deliver innovative medicines that help patients prevail over serious diseases, announced that they have expanded their strategic alliance to pursue the development of multiple allogeneic off-the-shelf TCR-T and/or CAR-T programs. The program will utilize Immatics N.V.s proprietary gamma delta T cell-derived, allogeneic Adoptive Cell Therapy (ACT) platform, called ACTallo, and a suite of next-generation technologies developed by Bristol Myers Squibb Company.

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Key Market Takeaways:

The global stem cells market is expected to exhibit a CAGR of 9.1% during the forecast period due to the large number of applications that stem cell therapy offers across the healthcare and disease spectrum. For instance, according to an article shared by amfAR, The Foundation for AIDS Research (An organization dedicated to ending the global AIDS epidemic through innovative research), HIV-resistant stem cells, when induced in suffering patients, can be permanently cured of the disease upon receiving a bone marrow transplant.

Among application, the adult stem cells segment is dominant due to the establishment of new companies regarding the research of adult cell stems across the globe. For instance, on May 25, 2023, Therapeutic Solutions International (TSOI), a company focused on immune modulation for the treatment of several specific diseases, announced the creation of CTE Biologics, Inc. as a subsidiary company dedicated to commercializing the JadiCell adult stem cell platform for the treatment of chronic traumatic encephalopathy.

Among region, North America is expected to be dominant in the growth of the global stem cells market over the forecast period. In October 2022, Pluristyx, a privately held biotechnology company based in Seattle, U.S., panCELLa, a company focused on therapeutic cell-focused Platform Technologies and based in Ontario, Canada, and Implant Therapeutics, a company that specializes in cell-based therapies and based in Maryland, U.S., announced a definitive merger agreement to streamline access to genetically modified stem cells for clinical development.

Key players operating in the global stem cells market are Advanced Cell Technology, Inc., Angel Biotechnology Holdings PLC, Biotricity, Lineage Cell Therapeutics, Inc., BrainStorm Cell Limited., CIRM, Celgene Corporation (A subsidiary of Bristol-Myers Squibb Company), Takara Bio Inc., Cellular Engineering Technologies., Cytori Therapeutics Inc., and STEMCELL Technologies.

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Market Key Developments

Inorganic strategies like mergers, acquisitions, and partnership agreements are also enhancing growth of the global stem cells market. For instance, in December 2022, Kite (A subsidiary of Gilead Sciences, Inc.) acquired Tmunity Therapeutics, Inc., a private, clinical-stage biotechnology company, focused on transforming the future of CAR-T therapies by developing the next generation of engineered T-cell therapies and innovative manufacturing processes and technologies to pursue next-generation CAR-T-Cell therapy advancements in cancer.

Market Restraint

The inability of certain stem cell therapies to produce substantial evidence, can restrain growth of the global stem cells market. In December 2022, The National Medical Commission (NMC), an Indian regulatory body of 33 members which regulates medical education and medical professionals, directed doctors not to use stem cell therapy for treating autism, citing insufficient evidence and lack of efficacy.

This restraint can be overcome by following the correct stem cell therapy only as per the guidance and recommendations of doctors or healthcare providers.

Market Opportunity

The increase in growth strategies like investments by key market players is estimated to cause the growth of the global stem cells market over the forecast period. For instance, on June 23, 2023, Calidi Biotherapeutics, a clinical-stage immuno-oncology company, announced a commitment of US$ 25 Million in series B funding to advance stem cell-based platforms for the delivery and potentiation of oncolytic viruses to treat cancer.

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Stem Cells Market to Hit $23.7 Billion by 2030 at 9.1% CAGR ... - GlobeNewswire