Stem Cell Therapy Market Size, By Type (Allogenic Stem Cell Therapy, Autologous Stem Cell Therapy), By Therapeutic Area (Oncology, Orthopedic, Cardiovascular, Neurology), End-use (Hospitals, Clinics), COVID-19 Impact Analysis, Industry Analysis Report, Re

Stem Cell Therapy Market Size, By Type (Allogenic Stem Cell Therapy, Autologous Stem Cell Therapy), By Therapeutic Area (Oncology, Orthopedic, Cardiovascular, Neurology), End-use (Hospitals, Clinics), COVID-19 Impact Analysis, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 - 2032

Stem Cell Therapy Market is slated to depict noticeable growth through 2032 owing to the constant technological innovations in regenerative medicine therapy. Scientists and researchers have constantly been working on developing stem cell therapies that are highly effective in treating diseases whose cure has not been found yet. Stem cell therapy accelerates the repair response of diseased, injured, or dysfunctional tissues with the help of stem cells or their derivatives. It offers natural growth factors that help the body boost its healing response, while lowering the pain caused due to an injury or a disease. In addition, several benefits offered by the therapy, such as effectively reducing pain, minimal post-procedural recovery, increased functionality and flexibility, avoiding surgery and its risks of complications, and prevention of nerve damage, are slated to spur its adoption during the estimated timeframe. Overall, the stem cell therapy industry is segmented in terms of type, therapeutic area, end-use, and region. Based on type, the autologous stem cell therapy segment is slated to witness growth during the forecast time, given its ability to eliminate the need for finding a donor and reducing the overall cost. Besides, the therapy offers high compatibility with the human immune system. In addition, the risk of graft rejection is also lower, which accelerates is adoption significantly. By therapeutic area, the oncology segment held over 37% of the market share in 2022 and is estimated to register notable gains through 2032. Constantly rising cases of cancer coupled with a high success rate of stem cell therapies will assist the segment in growing in the future. According to the WHO, cancer is one of the leading causes of deaths worldwide, accounting for 10 million deaths in 2020. In terms of end-use, the clinics segment will exhibit over 10% CAGR between 2023-2032. The market demand is expected to be driven by the rising preference for stem cell therapies in the clinics as they are equipped with superior medical devices and superior quality reagents required for imparting stem cell therapies. Regionally, the North America stem cell therapy market held over 41% market share in. The region will witness massive growth by 2032 owing to the rising incidences of chronic diseases such as cancer and increasing research and development practices. According to credible reports, as of January 2022, there are estimated 18.1 million cancer survivors in the United States. Besides, the key players in the region are also introducing novel stem cell therapies to offer better treatment for these diseases, which is anticipated to influence the overall regional outlook positively.