Stem Cell Treatment Market Size

Stem Cell Treatment Market size is poised to surpass USD 596 million by the end of 2035, growing at a CAGR of 14% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of stem cell treatment was over USD 263 million. The growth of the market can be attributed to the growing prevalence of chronic diseases such as, cancer, sickle cell disease, lymphoproliferative disorders, tumors, and others. According to WHO, cancer accounted for nearly ten million deaths worldwide in 2020. A study conducted by the International Agency for Research on Cancer 2020 found that approximately 1 in 5 people develops cancer during their lifetime, and about 1 in 8 men and 1 in 11 women die from it. Early diagnosis allows for a more targeted cancer treatment, such as stem cell therapy, which can be more effective than traditional chemotherapy and radiation treatments. Stem cell treatments involve using stem cells to stimulate the body's own immune system to attack cancer cells. The stem cells can also be used to replace damaged cells and restore function to organs that have been damaged by cancer.

In addition to these, other factors that are believed to fuel the market growth of stem cell treatment include the growing demand for regenerative and personalized medicines, and the rise in government funding for stem cell research. Stem cells can be used to create personalized medicines tailored to the individual needs of a patient. Moreover, the ongoing research activities being conducted for the treatment of COVID-19 is expected to further drive market growth in the coming years. For instance, a grant of USD 5 million was awarded to Lineage Cell Therapeutics in May 2020 by the California Institute for Regenerative Medicine (CIRM) to develop a vaccine against SARS-CoV-2, the virus responsible for COVID-19, using VAC, Lineage's allogeneic dendritic cell therapy.