Cancer is one of the leading causes of mortality across the world, and the disease is profoundly affecting the quality of life. 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 growth of the Europe stem cell therapy market.
The European stem cell therapy market is divided into Germany, the UK, France, Italy, and Spain. Countries such as Germany and the UK are expected to be the largest contributor to the stem cell therapy market due to increasing prevalence chronic conditions, growing awareness of stem cell therapies, and extensive research & development activities. Additionally, rapidly developing healthcare infrastructure in Southern Europe is projected to offer lucrative growth opportunity for Europe stem cell therapy market.
Major players and health organizations in Germany are involved in research and development activities for the development of stem cell therapies for the treatment of range of diseases. For instance, in July 2018, Viscofan BioEngineering, one of the leading stem cell therapy players in the market, announced that Spanish Agency for Medicines (AEMPS) approved its clinical phase I trial for regenerative medicine. The novel therapy will be intended to treat patients suffering from severe cardiac insufficiency. Additionally, the awareness of the benefits offered by stem cell therapies is increasing in the country. A significant number of research institutes are collaborating amongst themselves intending to develop a new range of therapies for chronic conditions. For instance, in October 2018, Fraunhofer research institute announced its collaboration with the Japanese Society for Regenerative Medicine. The duo agreed to develop new regenerative medicines, including stem cell therapies to cure diseases. Moreover, the organizations signed a memorandum of understanding to share research information, technologies, and regulatory developments with each other.
The Europe stem cell therapy market is segmented into type, treatment, application, end user, and country.
The Europe 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 the largest market share in 2022.
Based on treatment, the Europe stem cell therapy market is bifurcated into allogeneic and autologous. The allogenic segment held the largest share of the market in 2022.
Based on application, the Europe stem cell therapy market is divided into musculoskeletal, dermatology, cardiology, drug discovery and development, other applications. The musculoskeletal segment held the largest share of the market in 2022.
The Europe stem cell therapy market, by end user, is segmented into academic & research institutes and hospitals & clinics. The academic & research institutes segment held the largest share of the market in 2022.
Based on country, the Europe stem cell therapy market is segmented into Germany, the UK, France, Italy, Spain, and the Rest of Europe. Germany dominated the market in 2022.
MEDIPOST; BioTime, Inc.; Mesoblast Limited; TiGenix NV; Holostem Terapie Avanzate Srl; and NuVasive Inc are the leading companies operating in the Europe stem cell therapy market.