Global Placental Stem Cell Therapy Market Overview
The key driver impacting the placental stem cell therapy market is increased awareness about stem cell therapies. For instance, Every October, on Stem Cell Awareness Day, the global stem cell community comes altogether to encourage the appreciation and understanding of stem cell research. Similarly, In 2016, NeuroGen Brain and Spine Institute conducted awareness programs related to stem cell therapy in Karnataka (India) and other neighboring states. The institute has soundly treated more than 800 patients. Moreover, the increase in the number of storage banks and the awareness among people contributes to placental stem cell therapy market demand in the later years.
According to Value Market Research, the global Placental stem cell therapy market size was valued at USD 0.66 BN in 2020 and is estimated to grow at a CAGR of about 30.5% during the forecast period 2021 to 2027.
The increase in awareness about stem cell therapies will likely augment the need for placental stem cell therapy in the forecast period. However, ethical concerns associated with embryonic stem cells hamper the market in the long run. In addition, the high cost incurred in cell-based research act as a challenge to the market. The market trends, such as the growing demand for cell & gene therapies, might provide considerable opportunities to the market's leading players.
The Placental stem cell therapy market is widespread, with many local and international players. The market leaders follow different strategies to improve their market position , such as extending product portfolio, amalgamation, acquisitions, research and development, awareness programs , and product upgrades . The key players in the report are Lifebank Stem Cell Banking, Americord Registry, Pluristem Therapeutics, Inc., ReNeuron Group plc, Celularity, Inc., ReeLabs Pvt. Ltd., Mesoblast Limited, Athersys, Inc.
In this research report, the Placental stem cell therapy market is segmented by application, end-user, and region.
Analysis by Application:
By application, the report is segmented into hematologic malignancies and disorders, congenital immunodeficiency disorders, metabolic disorders, and neurological disorders. The neurological disorders segment dominates the application segment, with the highest share in 2020. It is due to the growing prevalence of neurological disorders such as stroke, Parkinson's disease, Alzheimer's disease, and multiple sclerosis, etc. Moreover, research and preclinical trials for testing the stem cell's regenerative capacity for neurological conditions treatment as stem cells display proliferative capacity making them preferably suitable for replacing dying cells thus helps in treating neurodegenerative diseases like stroke, Alzheimer's disease, and others.
Analysis by End-user:
By end-user, the report is divided into hospitals & specialty clinics, clinical research organizations, and research institutes & academies. The clinical research organizations segment dominates with a significant market share in 2020. It is due to the rise in research activities and the availability of funding for cell-based research owing to the high need for newer and better therapies for the treatment of autoimmune, cardiovascular, and neurological diseases. Moreover, increasing demand for biologics and growing research to discover new procurement methods that can be further applied for developing personalized medicines is contributing to the clinical research organizations segment growth.
Analysis by Region:
In the regional outlook of the global Placental stem cell therapy market, the North America region dominates with a significant market share in 2020. The rising research grants and public-private funding for the development of effective and safe stem cell therapy products with a growing number of clinical trials across the U.S. is driving the regional growth. Moreover, technological developments in placental stem cell therapy and the advanced healthcare sector contributing to the tremendous market growth across North America.
Market Segmentation covered in the Report:
By Application
- Hematologic Malignancies and Disorders
- Congenital Immunodeficiency Disorders
- Metabolic Disorders
- Neurological Disorders
By End User
- Hospitals & Specialty Clinics
- Clinical Research Organizations
- Research Institutes & Academies
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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