The global mesenchymal stem cells market is valued at USD 1,335.1 Million in 2017 and is expected to grow at CAGR of 7.0% during the forecast period 2018 to 2026. Mesenchymal Stem Cells are considered as adult stem cells, that belong to humans’ skeletal tissues, such as fate, bone, and cartilage. These stem cells are multipotent which can produce specialized cells but not all types of cells and these cells are isolated from humans and animal sources. As these cells are multipotent, they have high capacity to regenerate or self-renew while maintaining enormous therapeutic potential for tissue repair.
New opportunities in the mesenchymal stem cells market are expected in the form of mesenchymal stem cells usage in treatment of liver and cardiovascular diseases, cancer as per initial pre-clinical studies. The industry is primarily driven by increasing elderly population and increasing incidences of cancer, and other chronic diseases globally. Additionally, supportive government regulations that promote the use of mesenchymal stem cells as an effective treatment option, and mesenchymal cells to be better alternative for knee replacement are factors which have stimulated the market growth. However, the higher costs associated and lack of therapeutic applications of these stem cells, and dependency on various political scenarios are factors which might create challenges for the mesenchymal stem cell market.
Global Mesenchymal Stem Cells Market (USD Million) & Y-o-Y Growth (%)
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The global Mesenchymal Stem Cells industry is segmented on the basis of source, application, and geography. Based on the source type, the Mesenchymal Stem Cells market is segmented as Bone Marrow, Umbilical Cord Blood, Peripheral Blood, Lung Tissue, Synovial Tissues, Amniotic Fluids, and Adipose Tissues. The market covers applications of Injuries, Drug Discovery, Cardiovascular Infraction, and Others. Drug discovery application is a dominating segment owing to the continuous research and development activities by the key biopharmaceutical’s companies and research clinics. Also, supportive government regulations for drug discovery with the help of mesenchymal stem cells is expected to have a positive influence on the growth of this market.
Geographically, the Mesenchymal Stem Cells Industry is segmented across North America, Europe, Asia Pacific, Latin America, and Middle East & Africa regions. The North America market is observed to be the dominating region due to rising awareness for usage of these cells, high research and development expenditure, and supportive government initiatives. Along with these factors, presence of superior research facilities and availability of skilled professionals are also having a positive impact on the market growth in this region. Asia Pacific is considered to be the fastest growing region during the forecast period owing to increased R&D expenditure, government funding in countries such as Japan, China, and India along with large patient base.
The major companies operating in the industry are Cell Applications, Inc., Cyagen Biosciences Inc. Axol Bioscience Ltd., Cytori Therapeutics Inc., Stem cell technologies Inc., Celprogen, Inc. BrainStorm Cell Therapeutics, Stemedica Cell Technologies, Inc. These leading players in the market are introducing innovative products along with targeting partnerships and collaborations. Global players are entering new markets in developing regions to expand their customer base and strengthen market presence.