The global stem cell source market is anticipated to grow at a significant CAGR of 15.5% during the forecast period. The increasing prevalence of chronic diseases aided the growth of the stem cell therapy market. Long working hours, insufficient physical activity, and unhealthy eating and drinking habits all contributes to the prevalence of chronic diseases, driving the need for stem cell therapy. According to a United Nations article, the proportion of global deaths caused by chronic diseases is expected to rise to 70% of total deaths by 2030. The global burden of chronic diseases is expected to be around 60% in upcoming years. Companies in the stem cell therapy market are increasingly focusing on strategic alliances. For instance, in September 2018, CRISPR Therapeutics, a biotechnology company that develops transformative medicine for serious diseases using the gene-editing platform, and ViaCyte, a regenerative medicine company based in California, have collaborated on the development and marketing of stem cell transplantation stem cell therapies for diabetes treatment. Moreover, the increasing funding for stem cell research for development of therapies for the treatment of autoimmune, neurological, and cardiovascular diseases and increasing number of clinical trials are projected to drive the market growth.
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Impact of COVID-19 Pandemic on Global Stem Cell Source Market
The global stem cell source market has declined primarily as a result of the COVID-19 outbreak, which has resulted in restrictive containment measures such as social distancing, remote working, and the closure of industries and other commercial activities, all of which have resulted in operational challenges. Concerns about cells-derived stem cells halted the global market's growth, as research with these cells requires disrupting an artificially fertilized embryo at the 5-14 day stage.
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Segmental Outlook
The global stem cell source market is segmented based on the type, and application. Based on the type, the market is segmented into allogeneic and autologous. Based on the application, the market is sub-segmented into cardiovascular diseases surgeries , inflammatory & autoimmune diseases , neurological disorders , musculoskeletal disorder, neurological disorders, , autoimmune disease, and others (wounds and injuries, cancer)
by Type (Allogeneic, and Autologous)
by Application (Research, Therapeutics, Oncology, Musculoskeletal Disorder, Blood Disorder, Autoimmune Disease, and Others)
Market Players Outlook
The major companies serving the global Stem Cell Source market include Smith & Nephew PLC, MEDIPOST Co., Ltd., Anterogen Co., Ltd., PHARMICELL Co., Ltd., JCR Pharmaceuticals Co., Ltd., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in September 2019, Vertex Pharmaceuticals Inc, a biopharmaceutical company based in the US, announced the purchase of Semma Therapeutics, a private biotechnology company, for $950 million. The acquisition is expected to be consistent with Vertex's strategy of investing in scientific innovation that results in transformative medicine for patients suffering from serious diseases. Semma Therapeutics is a company based in the United States that uses stem cell therapy to treat diabetes.
The Report Covers
Market value data analysis of 2022 and forecast to 2028.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global Stem Cell Source market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying ‘who-stands-where’ in the market.
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