Rising Frequency of Traumatic Injuries is Powering the Stem Cell Therapy Market
The stem cell therapy market was USD 306.1 million in 2023, and it will touch USD 910.8 million in 2030, with 16.9% rate by the end of this decade. The major factor responsible for the market advance is the growing frequency of, orthopedic conditions, traumatic injuries, neurological ailments, and autoimmune diseases, such as lupus, multiple sclerosis, COPD, Parkinson’s disease, stroke, and ALS.
Allogeneic stem cell therapy led the industry, with a share of 60%, in 2023, and it will power at a rate of 17% in the years to come. This has a lot to do with the surge in the count of clinical trials for the expansion of these kinds of treatments. The major advantage of allogeneic transplantation is that the graft does not have any infecting tumor cell. The graft also has immunocompetent cells resulting from a donor, which may begin an immune graft-versus-malignancy effect.
The autologous therapy category will grow considerably in the years to come because of the little risk of graft rejection in this treatment procedure. People who require high-dose of chemotherapy and radiation are regularly transplanted with autologous stem cells for replacing the bone marrow damaged by the key treatment.
Furthermore, many recent studies concentrating on autologous HSCT have given away positive results for secondary advanced multiple sclerosis. The method uses healthy blood stem cells from a person’s own body for replacing diseased cells.
The adipose tissue category led the stem cell therapy market, with 40% share, in 2023. It is for the reason that the several advantages of adipose-tissue-derived stem cells, for example the suitability of harvesting them with the use of minimally invasive methods and the ease of the isolation method.
Musculoskeletal disorders generated the highest revenue in the past. This is because of the growing incidence of musculoskeletal ailments, for example muscle strains, lower-back injuries, carpal tunnel syndrome, and osteoarthritis. As per the WHO, about 1.71 billion persons have a musculoskeletal condition at a global level.
North America had the major share of 55%, in 2023, and it will grow at a considerable rate in the years to come. This is accredited to the funding given to develop stem cell therapies.
For example, in September 2022, Forge Biologics Inc., a gene-therapy-focused contract growth and manufacturing organization, proclaimed that it has raised USD 90 million in a Series C financing round co-led by Drive Capital and Aisling Capital, with an added undisclosed strategic investor.
It is because of the growing frequency of traumatic injuries all over the world, the demand for stem cell therapy is on the rise. This will continue to grow in the years to come as well.
SOURCE: P&S Intelligence
