MarketThe Global Adult Stem Cells Market was valued at USD 6.94 Billion in 2020 and is expected to grow at a Compound Annual Growth Rate (CAGR) of 7.5% between 2021 to 2028. Stem cells are the regenerative cells and in the field of dermatology these stem cells are used as regenerative medicines. The government initiatives and a number of medical communities that are promoting use of stem cells is increasing and hence contributing to the growth of overall adult stem cells market.
Increasing Technological Development In Stem Cell Therapeutics To Spur The Market Growth
The adult stem cells market is expanding due to rising focus toward treating neurological disorders. The growing demand for new innovations and technological advances in stem cell therapeutics and biologics is contributing to the growth of adult stem cells market.
In COVID-19 pandemic there were many journals published which stated that stem cells are useful and effective in treating COVID-19. Moreover, many projects related to this were registered and registry for clinical trials took place. However, this is still at an early stage of study.
The adult stem cells market in segmented on the basis of product is bifurcated into human embryonic stem cells, very small embryonic stem cells, induced pluripotent stem cells and adult stem cells. Also, the market can be divided on the basis of applications into rug discovery & development and regenerative medicine, which is further sub segmented into diabetes, incontinence, injuries, hematology, liver disorder, oncology, neurology, cardiovascular and myocardial infraction, orthopedics, and others.
North America region is expected to grow at a high rate over the coming years and is the dominating region. This is attributable to well-developed infrastructure and healthcare systems. In addition, these programs encourage the innovations and research activities. The United States contributed highest market share. Moreover, rise in the number of cancer patients is contributing to the increasing opportunities for adult stem cells market.
Some of the major players operating in the global adult stem cells market includes Virgin Health Bank, CELGENE CORPORATION, Biovault family, ReNeuron Group plc, Caladrius, Precious Cells International Ltd, Seneca Biopharmaceuticals, 10;Mesoblast Ltd, Opexa Therapeutics, Inc., STEMCELL Technologies Inc, Pluristem Therapeutics Inc, ThermoGenesis Holdings, Inc, Cellular Engineering Technologies, Astellas Pharma Inc., BioTime, Inc., among others.