North America Is Dominating Stem Cell Therapy Market

The global stem cell therapy market was 306.1 million USD in 2023 and is estimated to grow at an annual rate of 16.9% from 2024 until 2030 with a forecasted value of USD 910.8 million. This growth of the market can be credited to the growing occurrence of traumatic wounds, orthopedic conditions, neurological illnesses, and autoimmune diseases, such as multiple sclerosis, stroke, lupus, Parkinson’s disease, COPD, and amyotrophic lateral sclerosis (ALS).

In 2023, allogeneic stem cell therapy had the largest share, 60%, and the same is also projected to advance at a CAGR of 17.0% during the projection period. This can be credited to the surge in the count of clinical trials for the growth of such treatments. The major benefit of an allogeneic transplant is that the graft does not have any polluting tumor cells. The graft also comprises immunocompetent cells derived from a donor, which might add an immune graft-versus-malignancy effect.

Furthermore, numerous studies on stem cell transplants have displayed potential results. For example, a study published in Clinical Cancer Research, a journal of the American Association for Cancer Research, in January 2023 says that an investigational allogeneic T-cell treatment, which simultaneously aims 6 different viruses, has shown advanced safety and efficacy in phase II clinical trial on patients who had gone through stem cell transplantation to cure cancer and certain blood-linked illnesses.

In 2023, the adipose tissue category led the industry, with a market share of more than 40%. This is mainly because of the several benefits of adipose-tissue-taken from stem cells, like the ease of harvesting them using negligibly invasive methods and the simplicity of the isolation method.

In 2023, on the basis of the application segment, the musculoskeletal disorders category produced the highest revenue. This can be credited to the growing occurrence of musculoskeletal sicknesses, such as osteoarthritis, carpal tunnel syndrome, lower back injuries, and muscle strains. As per the WHO, around 1.71 billion individuals have a musculoskeletal condition worldwide.

In 2023, North America accounted for the largest share of 55 %; this is expected to rise significantly at a compound annual growth rate between 2024 and 30. The funding for the development of stem cell therapies in this area has been credited with that. For example, in September 2022, Forge Biologics Inc., a contract development and manufacturing organization focused on gene therapy announced that it had raised USD 90 million in a Series C funding round with an additional undisclosed strategic investor cooled by Drive Capital and Aisling Capital together with another unknown strategic investor.

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