Report : North America 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 18.4% CAGR, the North America Stem Cell Therapy Market is speculated to be worth US$ 3,582.26 Million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America stem cell therapy market was valued at US$ 1,299.39 million in 2022 and is expected to reach US$ 3,582.26 million by 2028, registering a CAGR of 18.4% 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 North America stem cell therapy market expansion.
Cancer is one of the leading causes of mortality across the world, and the disease is profoundly affecting the quality of life. According to estimates published by the American Cancer Society in 2023, at least 42% of newly diagnosed cancer cases, excluding non-melanoma skin cancer, were in the US, accounting for 805,600 cases in 2022. Similarly, the treatment of cancer accounts for a high percentage of healthcare expenditure in the US alone. According to the National Cancer Institutes, the cancer-related direct medical cost in the US is projected to grow from US$ 183 billion in 2015 to US$ 246 billion by 2030, registering a 34% increase. This can be attributed to the rising geriatric population, and surging prevalence of smoking, obesity, and physical inactivity. The National Cancer Institute report also states that stem cell transplants assist in the restoration of blood-forming cells among cancer patients undergoing chemotherapy or radiation therapy. Blood-forming stem cells are important as they facilitate the growth of different types of blood cells, such as white blood cells (WBCs), red blood cells (RBCs), and platelets. The stem cell transplants do not function directly against cancer; instead, they help recover the body's ability to produce stem cells after treatment with high doses of radiation therapy, chemotherapy, or both. Thus, an increase in the demand for advanced cancer treatment is driving the North America growth of the stem cell therapy market.
On the contrary, availability of illegal and unapproved products, and high cost of approved treatments hurdles the growth of North America stem cell therapy market.
The North America 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$ 779.50 million. It is projected to garner US$ 2,192.61 million by 2028 to expand at 18.8% CAGR during 2022–2028.
Based on treatment, the North America stem cell therapy market is bifurcated into allogeneic and autologous. The allogenic segment held 55.9% market share in 2022, amassing US$ 726.96 million. It is projected to garner US$ 1,976.30 million by 2028 to expand at 18.1% CAGR during 2022–2028.
Based on application, the North America 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$ 430.86 million. It is projected to garner US$ 1,172.42 million by 2028 to expand at 18.2% CAGR during 2022–2028.
The North America stem cell therapy market, by end user, is segmented into academic & research institutes and hospitals & clinics. The academic & research institutes segment held 53.5% market share in 2022, amassing US$ 695.73 million. It is projected to garner US$ 1,944.14 million by 2028 to expand at 18.7% CAGR during 2022–2028.
Based on country, the North America stem cell therapy market is segmented into the US, Canada, and Mexico. Our regional analysis states that the US captured 80.0% market share in 2022. It was assessed at US$ 1,039.23 million in 2022 and is likely to hit US$ 2,900.35 million by 2028, exhibiting a CAGR of 18.7% during the forecast period.
Key players dominating the North America stem cell therapy market are MEDIPOST; RichSource; BioTime, Inc.; Mesoblast Limited; U.S. Stem Cell, Inc.; TiGenix NV; AlloSource; and NuVasive Inc, among others.
Few key developments in North America 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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