Global Mesenchymal Stem Cell (MSC) Market to Grow at a CAGR of ~14% during 2022-2031; Market to Grow on the Back of Increasing Prevalence of Chronic Diseases, Growing Geriatric Population, and Rising Usage of Mesenchymal Stem Cells
New York, Aug. 04, 2022 (GLOBE NEWSWIRE) -- According to the World Health Organization, the number and percentage of the geriatric population, i.e., adults 60 years of age and older, is increasing. In 2019, 1 billion people were 60 years of age or older across the globe. This number is anticipated to increase to 1.4 billion by 2030 and to 2.1 billion by 2050. In addition to this, it was also observed that 85% of older persons have at least one chronic health issue, and 60% have two or more.
Kenneth Research has published a detailed market report on ‘Global Mesenchymal Stem Cell (MSC) Market’ which includes the ongoing industry innovations and recent trends being adopted by the major industry players to achieve their business targets. Apart from that, the inclusive data on market size, growth rate, market revenue share, growth opportunities and challenges for the market players along with worldwide analysis on five major regions – North America, Latin America, Europe, Asia Pacific and Middle East & Africa has been provided in the report.
According to the National Library of Medicine, globally, a significant 310 million major surgeries were performed each year as of 2020. Amongst them, around 40 to 50 million were done in USA and 20 million in Europe. The global mesenchymal stem cell (MSC) market generated revenue of around USD 3 billion in the year of 2021. The market is estimated to grow at a CAGR of ~14% over the forecast period, i.e., 2022-2031. The growth of the market can majorly be attributed to the increasing aging population who are prone to different types of diseases, growing awareness regarding the treatment of injuries and surgery procedures, and the rising usage of mesenchymal stem cells as a substitute surgery for knee replacement and other operative procedures. Moreover, the increasing cost of these procedures and surgeries is estimated to elevate the overall health expenditure across the globe and which in turn is estimated to be a prime factor to drive market growth during the forecast period. According to the data by The World Bank, in 2019, the global health expenditure accounted to 9.831% of the GDP.
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Furthermore, increasing road accidents and deaths due to accidents around the world is another factor to drive the market growth over the forecast period. Most of the road accidents lead to severe or traumatic injuries which require surgeries for treatment. It was noticed that approximately 1.3 million people die each year because of road traffic crashes. Additionally, rising disposable income per capita among people across the globe is resulting into better treatment for injuries and rising demand for adult stem cells such as, mesenchymal stem cells. It was noticed that, globally the disposable income per capita in 2020 was USD 8784. Hence, this is anticipated to be a significant factor to propel the growth of the global mesenchymal stem cell (MSC) market during the forecast period.
Regionally, the global mesenchymal stem cell (MSC) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The North America region witnessed noteworthy growth in the global market for mesenchymal stem cell (MSC) in the year 2021. This growth can be accredited to the large number of aging population, and increasing incidence of cancers in the region. For instance, in the United States, 1,752,735 new cases of cancer were reported in 2019, while 599,589 people passed away from the disease. Additionally, the increasing research and development activities, rising healthcare expenditure, and presence of key market players in the region are estimated to drive the market growth over the forecast period.
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On the other hand, the global mesenchymal stem cell (MSC) market in the Asia Pacific region is expected to grow with the highest CAGR during the forecast period on the back of increasing number of aging patients, government’s initiative such as check-up camps, patient friendly medical policies, and sufficient funding to healthcare sector. According to the Asian Development Bank, the number of elderly persons in the Asia Pacific region will reach 1.3 billion by 2050. For a clearer understanding, one in four persons will be older than 60. Among the Asia Pacific countries, China and India are expected to be the fastest growing MSC markets in the region owing to the rising geriatric population and increasing research and development initiatives in these regions.
The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
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The global mesenchymal stem cell (MSC) market is segmented on the basis of application into disease modelling, oncology disorders, drug development & discovery, stem cell banking, tissue engineering, and others. Out of these, the oncology disorder segment is anticipated to hold the largest share in the market by the end of 2031 and is expected to grow at the highest CAGR during the forecast period. The growth of this segment can be majorly accredited to increasing cancer cases, wherein the branch of oncology deals with the prevention, treatment, and diagnosis of cancer. Additionally, upsurge in the number of cancer patients and cancer caused deaths worldwide is expected to be a major factor to fuel the growth of this segment over the forecast period. According to the World Health Organization, nearly 10 million people died of cancer across the globe in 2020.
Furthermore, the global mesenchymal stem cell (MSC) market is segmented based on stem cells indication into cardiovascular disease, liver disease, cancer, and others. Out of these, the cancer segment is anticipated to hold a substantial market share over the forecast period on the back of the increasing prevalence of cancer around the globe, and rising deaths caused by various types of cancer. It was noted that, in 2020, lung cancer caused 1.80 million deaths, colon and rectum cancer caused 916 000 deaths, liver cancer caused 830 000 deaths, and breast cancer caused 685 000 deaths across the globe.
The global mesenchymal stem cell (MSC) market is also segmented on the basis of treatment type, product & service, and source of isolation
Global Mesenchymal Stem Cell (MSC) Market, Segmented by Treatment Type
Global Mesenchymal Stem Cell (MSC) Market, Segmented by Product & Service
Global Mesenchymal Stem Cell (MSC) Market, Segmented by Source of Isolation
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Some of the prominent players and their company profiling mentioned in the report include Cell Applications, Inc., Celprogen Inc., STEMCELL Technologies Inc., Axol Bioscience Ltd., Cytori Therapeutics Inc., Proteona Pte. Ltd., BrainStorm Cell Limited, Stemedica Cell Technologies, Inc., Mesoblast Ltd., ScienCell Research Laboratories, Inc., Neuromics, Inc., and others. The profiling enfolds growth opportunities, challenges, market trends, competitive analysis and positioning, along with the strategies used by them to stay ahead of their competitors.
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