Market Research Report
Mesenchymal Stem Cells Market Size, Share & Trends Analysis Report By Product & Services, By Type, By Source Of Isolation (Bone Marrow, Cord Blood), By Indication, By Application, By Region, And Segment Forecasts, 2021 - 2028
|Published by||Grand View Research, Inc.||Product code||1007484|
|Published||Content info||140 Pages
Delivery time: 2-10 business days
|Mesenchymal Stem Cells Market Size, Share & Trends Analysis Report By Product & Services, By Type, By Source Of Isolation (Bone Marrow, Cord Blood), By Indication, By Application, By Region, And Segment Forecasts, 2021 - 2028|
|Published: May 12, 2021||Content info: 140 Pages||
Mesenchymal Stem Cells Market Growth & Trends
The global mesenchymal stem cells market size is expected to reach USD 6.1 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 12.6% from 2021 to 2028. Mesenchymal stem cells (MSCs) are set to gain popularity among healthcare professionals, to develop novel therapeutics, primarily targeted at the treatment of several immune-mediated disorders. MSCs have been acclaimed effective as a regenerative therapy for skeletal tissue repair and have recently gained traction across modulation of immune cells and endogenous tissues.
Expanding clinical applications of mesenchymal stem cells, strengthening the pipeline of these therapies, along with intensifying market competition are some of the key aspects driving the industry expansion of MSCs. The recent pandemic outbreak of COVID-19 is set to propel the clinical applications and investments done in this market space. For instance, in April 2020, Canada's The Stem Cell Network (SCN) provided funding of USD 300,000 to the project targeted towards the evaluation of optimal dosage of MSCs, to design an effective therapeutic approach to reduce the impacts of respiratory disorders associated with SARS-CoV-2 infection.
Additionally, as stated by clinicaltrials.gov, 21 clinical trials reportedly incorporated MSCs in the management of COVID-19. Apart from the applications of MSCs in regenerative medicine and tissue engineering, the MSCs serve as a potent therapeutic approach for cancer treatment. As of February 2020, 25 clinical trials have been registered that employ MSCs in the treatment of several cancer indications. This is set to drive the mesenchymal stem cells market (MSCs) market.
Acknowledging the profitable opportunities posed by the market, key industry participants are focused towards initiating technological collaborations to strengthen their market presence. In August 2020, NantKwest Inc. collaborated with Generate Life Sciences Co. to develop a mesenchymal stem cell-based treatment against COVID-19. The latter company is providing with the MSCs derived from donated umbilical cord tissues.
Mesenchymal Stem Cells Market Report Highlights
Widespread use of bone marrow derived MSCs in several therapeutic applications has resulted in the segment's dominance in 2020
More than 20.0% of clinical trials incorporate bone marrow MSCs, which is set to maintain the segment's largest revenue share up to 2028
The cancer indication segment is expected to witness rapid growth through 2021 to 2028, attributed to the emergence of MSCs as a promising vehicle for anti-cancer drugs
This is attributed to the tumor tropism ability of MSCs and their ability to manage the predestination of tumor cells
Disease modelling application generated the highest revenue in 2020, owing to several advantages associated with MSCs such as the high capacity of expansion and self-renewal and reduced tumorigenic capacity, which makes them suitable across disease modelling applications
The kits, media, and reagents segment held a significant revenue share in 2020 owing to the presence of a substantial number of service providers and increasing demand in the market
The allogeneic segment dominated the market in 2020; Implantation of allogeneic mesenchymal stem cells serves as a promising tool for cell-based therapy
As of August 2019, more than 200 clinical trials have been reported for use of allogeneic MSCs, which is expected to propel the segment's revenue generation capacity from 2021 to 2028
Apart from the availability of advanced research facilities and skilled professionals, favorable government initiatives and high R&D expenditure, active policies pertaining to cell therapies have contributed to the dominance of North America MSCs market in 2020
For instance, in August 2020, the Centers for Medicare and Medicaid Services proposed new policies that include cellular therapies, wherein, commercial insurance companies support private health plans associated with MSCs
The key players are engaged in exploring MSC therapy to its highest potential across different emerging applications, contributing to market growth
For instance, in July 2020, Promedica presented positive results from its study that evaluated the use of allogeneic MSCs in COVID-19 patients. The study was conducted under the U.S. FDA's Emergency Investigational New Drug (IND) approval