Report : Asia Pacific Stem Cell Therapy Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Type (Adult Stem Cell Therapy, Embryonic Stem Cell Therapy, Induced Pluripotent Stem Cell Therapy, and Other Stem Cell Therapy), Treatment (Allogeneic and Autologous), Application (Musculoskeletal, Dermatology, Cardiology, Drug Discovery & Development, and Other Applications), and End User (Hospitals & Specialty Clinics and Academic & Research Institutes)
At 19.6% CAGR, the Asia Pacific Stem Cell Therapy Market is speculated to be worth US$ 1,180.20 Million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific stem cell therapy market was valued at US$ 403.94 million in 2022 and is expected to reach US$ 1,180.20 million by 2028, registering a CAGR of 19.6% from 2022 to 2028. Increasing research activities related to stem cell therapy for effective disease management and growing prevalence of cancer are the critical factors attributed to the Asia Pacific stem cell therapy market expansion.
Scientists are employing stem cell research to learn how an animal can be developed from a single cell and how healthy cells replace impaired cells in adults. A better knowledge of stem cells can provide insights into the pathogenesis of diseases and possible options for their treatment. Stem cells help restore the body through two major functions—differentiation and self-renewal. In 2020, Life Extension, a Florida-based company, launched a new Geroprotect Stem Cell, which is claimed to help restore the youthful, fine function of cells. The company developed this product in partnership with Insilico Medicine, Maryland. A report by EuroGCT states that blood stem cell transplant is receiving significant attention for the treatment of blood cancer types, including leukemia, lymphoma, and myeloma; myelodysplastic syndrome; and myeloproliferative disorders. These types of cancer develop due to the overproduction of certain cells in the blood system. Further, blood stem cell transplants have been proven to be effective in treating Severe Combined Immunodeficiency (SCID) by replacing faulty immune cells with healthy donor cells. T-cell deficiencies can also be treated through blood stem cell transplants by replacing faulty immune cells with healthy donor cells.
On the contrary, availability of illegal and unapproved products, and high cost of approved treatments hurdles the growth of Asia Pacific stem cell therapy market.
The Asia Pacific stem cell therapy market, by type, is segmented into adult stem cell therapy, induced pluripotent stem cell therapy, embryonic stem cell therapy, and other stem cell therapy. The adult stem cell therapy segment held 60.0% market share in 2022, amassing US$ 242.41 million. It is projected to garner US$ 722.68 million by 2028 to expand at 20.0% CAGR during 2022–2028.
Based on treatment, the Asia Pacific stem cell therapy market is bifurcated into allogeneic and autologous. The allogenic segment held 55.9% market share in 2022, amassing US$ 225.99 million. It is projected to garner US$ 651.14 million by 2028 to expand at 19.3% CAGR during 2022–2028.
Based on application, the Asia Pacific stem cell therapy market is divided into musculoskeletal, dermatology, cardiology, drug discovery and development, other applications. The musculoskeletal segment held 33.2% market share in 2022, amassing US$ 133.95 million. It is projected to garner US$ 386.27 million by 2028 to expand at 19.3% CAGR during 2022–2028.
The Asia Pacific stem cell therapy market, by end user, is segmented into academic & research institutes and hospitals & clinics. The academic & research institutes segment held 53.6% market share in 2022, amassing US$ 216.31 million. It is projected to garner US$ 640.57 million by 2028 to expand at 19.8% CAGR during 2022–2028.
Based on country, the Asia Pacific stem cell therapy market is segmented into Japan, China, India, South Korea, Australia, and the Rest of Asia Pacific. Our regional analysis states that Japan captured 26.6% market share in 2022. It was assessed at US$ 107.32 million in 2022 and is likely to hit US$ 323.21 million by 2028, exhibiting a CAGR of 20.2% during the forecast period.
Key players dominating the Asia Pacific stem cell therapy market are MEDIPOST; Mesoblast Limited; TiGenix NV; JCR Pharmaceuticals Co. Ltd.; and NuVasive Inc, among others.
Few key developments in Asia Pacific stem cell therapy market:
- In 2022, MEDIPOST announced that the company has expanded the production facilities for its knee osteoarthritis stem cell products, CARTISTEM and SMUP-IA-01, and will start preparing for GMP (Good Manufacturing Practice) certification.
- In 2022, Mesoblast met with the FDA in December 2021 regarding its approval request. The company had generated “substantial new data” to show that immunomodulatory activity is a suitable measure to show the therapy's clinical effect in response.
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