Growth in stem cell therapy market is largely driven by rising stem cell research activities and increasing approvals of GMP-certified facilities to manufacture stem cells. The increasing demand for iPSCs as an alternative to ESCs and the growing demand for cell & gene therapies are also expected to support the growth of this market in the coming years.
The global stem cell therapy market is projected to reach USD 401 million by 2026 from USD 187 million in 2021, at a CAGR of 16.5% during the forecast period.
The global stem cell therapy market is highly consolidated. Key players in the stem cell therapy market include Smith & Nephew (UK), MEDIPOST Co., Ltd. (South Korea), Anterogen Co., Ltd. (South Korea), PHARMICELL Co., Ltd. (South Korea), JCR Pharmaceuticals Co., Ltd. (Japan), NuVasive, Inc. (US). The key players in this market are increasingly focusing on strategic expansions, partnerships, and product approvals to expand their manufacturing capabilities and increase market presence.
Smith & Nephew offers stem cell therapy products through the advanced wound management segment. The company’s product portfolio includes allogeneic stem cell-based products for musculoskeletal disorders (such as Bio4) and products for wounds & injuries applications (such as Grafix, Stravix). Smith & Nephew has a strong geographic presence in North America, followed by China and the UK. It primarily focuses on product development and commercialization to increase revenue and strengthen its market position in the stem cell therapy market.
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MEDIPOST has a strong foothold in the Asia Pacific stem cell therapy market, offering stem cell therapy products for musculoskeletal disorders (CARTISTEM). MEDIPOST has a diverse product pipeline in the developmental phase. The company focuses on expansions to increase its presence in the global stem cell therapy market. MEDIPOST focuses on organic growth strategies such as product development and commercialization to expand its product portfolio and strengthen its revenue base in the stem cell therapy market. The company is focusing on applications such as pulmonary and neurological disorders to broaden expertise and gain market share in these segments