Human Embryonic Stem Cells Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Human Embryonic Stem Cells Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The human embryonic stem cell market is expected to witness a CAGR of 10.21% over the forecast period.

COVID-19 had a significant impact on the growth of the market during the pandemic period. The growth of the market is attributed to the rising number of clinical trials and the growing adoption of stem cell therapies globally. In the context of COVID-19, government organizations in various countries, research institutes, and many biotech and pharmaceutical firms are focusing on effective and rapid technologies for the fast diagnosis of COVID-19. According to a research article titled "Mesenchymal Stem Cell Therapy for COVID-19: Present or Future" published in April 2020, mesenchymal stem cells are a safe and effective approach to the treatment of COVID-19. Mesenchymal Stem Cells (MSCs)-based immunomodulation treatment has been proposed as a suitable therapeutic approach and several clinical trials have begun. The positive results from such studies can lead to the development of new therapies for COVID-19 and thus can propel the growth of the market.

The growth of the market is attributed to the rising number of clinical trials and the growing adoption of stem cell therapies globally. The government funding for the development of regenerative medicine has been increasing in most developed countries, because of its applications in organ transplantation, tissue engineering, and various other applications. For instance, in June 2020, the Australian Government funded USD 5.9 million for eight medical research projects to find new and innovative stem cell treatments for incurable diseases, including leukemia, Parkinson’s disease, and epilepsy. The area of human embryonic stem cell-based therapies garners significant investments, and various clinical trials that require considerable support for expenditure are currently underway. Companies are fundraising to develop stem cell-based therapies to tackle many diseases. For instance, in January 2022, Cellino Biotech, a cell therapy manufacturing company, raised USD 80 million in a Series A financing round. Cellino plans to expand access to stem cell-based therapies by building the first autonomous human cell foundry in 2025. Additionally, other factors such as the high prevalence of cardiac and malignant diseases, and rising demand for regenerative medicines are expected to drive the market. According to the data published by the European Heart network in 2021 reported that in the European Union more than 60 million people live with Cardiovascular disease and close to 13 million new cases of cardiovascular diseases are diagnosed every year. Such incidences of cardiac diseases are expected to drive the demand for effective therapeutics such as embryonic stem cell therapies, thereby contributing to the growth of the market.

Thus, owing to the abovementioned factors, the market is expected to project significant growth over the forecast period. However, the high cost of the procedure and stringent regulatory scenario is expected to restrain the growth of the market over the forecast period.

Key Market TrendsStem Cell Biology Research Segment is Expected to Show Better Growth in the Forecast Year

Stem cells are biological cells that can differentiate into other types of cells. Additionally, various types of stem cells are used for therapeutic purposes. With multiple applications at the clinical stage for various diseases, these are being explored extensively by a large number of biopharmaceutical companies in recent times. Stem cell biology research will show better growth, owing to the high prevalence of cardiac and malignant diseases such as Parkinson's disease, Cancer, and Others. According to the article titled " Stem Cell Therapy for Parkinson's: Current Developments" published in august 2022 the goal of stem cell therapy for Parkinson's disease is to replace destroyed brain cells with healthy, undifferentiated stem cells. As per the article titled "The Promise and Potential of Stem Cells in Parkinson's Disease" published in September 2021 Tabar, a physician-Scientist at Memorial Sloan Kettering Cancer Center in New York City led a clinical trial to inject stem cells into the brains of people with Parkinson's disease to restore dopamine levels. Furthermore, to boost the pace of stem cell research, the government is providing funding opportunities to researchers. For instance, the article titled " Research in Regenerative Medicine" published in February 2022 mentioned that the total funds released by the Indian Council of Medical Research (ICMR) under stem cell research in fellowships in 2021 were USD 3 million.

The strategic initiatives taken by the market players are also propelling the growth of the segment growth. For instance, in February 2020, the Global Institute of Stem Cell Therapy and Research (GIOSTAR) inaugurated a new stem cell and cancer research and therapy center in Chandigarh, India. This facility represents the latest milestone in global expansion efforts spearheaded by GIOSTAR in India, Mexico, the United States, and numerous other countries.

Thus, owing to these factors, the market studied is expected to witness a high growth rate over the forecast period.

North America Dominates the Human Embryonic Stem Cells Market Over The Forecast Period

The human embryonic stem cells market is expected to dominate in the North American region owing to extensive research activities, along with the high burden of chronic diseases and genetic disorders in the region. The United States also shows a high incidence of other diseases, such as diabetes, heart disease, renal failure, and osteoporosis. Human embryonic stem cells have a high potential for use in treatment and may become a standard of care for these diseases. Additionally, in September 2019, the Food and Drug Administration (FDA) approved clinical trials, which indicated the use of stem cells. Furthermore, in April 2021, Vertex Pharmaceuticals Incorporated received the United States Food and Drug Administration (FDA) Fast Track Designation for VX-880, and the company initiated a clinical trial for VX-880 in patients who have type 1 diabetes (T1D) with severe hypoglycemia and impaired hypoglycemic awareness. VX-880 is one of the first investigational stem cell-derived therapies utilizing fully differentiated, insulin-producing pancreatic islet cells for the treatment of type 1 diabetes. Such increasing approval procedures are expected to drive the growth of the market.

Also, the increasing research funding for the development of various therapies is expected to drive the growth of the market in this region. For instance, in May 2020, Lineage Cell Therapeutics received a grant of USD 5 million from the California Institute for Regenerative Medicine (CIRM) to support the use of VAC, Lineage’s allogeneic dendritic cell therapy, for the development of a potential vaccine against SARS-CoV-2, the virus that causes COVID-19.

Hence, these factors are expected to influence the growth of the human embryonic stem cells market over the forecast period.

Competitive Landscape

The hair removal devices market is moderately fragmented due to the presence of several companies operating globally as well as regionally. The competitive landscape includes an analysis of a few international as well as local companies which hold the market shares and are well known. The global players in the human embryonic stem cells market are Astellas Pharma Inc, PeproTech Inc, Lineage Cell Therapeutics Inc, Merck KGaA, PromoCell GmbH, STEMCELL Technologies Inc, Thermo Fisher Scientific, and ViaCyte, Inc.

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