Conversely, surge in the applications of induced pluripotent stem cells in embryonic stem cell therapy offers the stem cell therapy market opportunity. However, limitations on use of embryonic stem cells due to ethical concerns and high cost of stem cell therapy are negatively impacting the stem cell therapy market growth. The growth of the stem cell therapy market size is driven by increase in demand for stem cell therapy, increase in government support for research and development activities and increase in healthcare expenditure.įurthermore, increase in prevalence of diseases like cancer, and new product launches associated to the stem cell therapy are considerably contributing toward the stem cell therapy industry growth. However, the situation is expected to change post COVID-19 pandemic The COVID-19 pandemic had a fairly negative impact on the stem cell therapy industry owing to the complexities in supply of materials, and manufacturing and logistics processes in the pandemic situation. These transplants use adult stem cells or umbilical cord blood.

In the process of stem cell transplantation, the stem cells are replaced with damaged cells by chemotherapy or serve as a way for the donor's immune system to fight some types of cancer and blood-related diseases, such as leukemia, lymphoma, neuroblastoma and multiple myeloma. The healthy transplanted heart muscle cells could then contribute to repairing the injured heart muscle. For instance, if the person has heart disease, the cells could be injected into the heart muscle. The cells further can be implanted into a person. These stem cells are manipulated to specialize into specific types of cells, such as heart muscle cells, blood cells or nerve cells. Researchers grow stem cells in a laboratory.

It is the further step in organ transplantation and uses cells instead of donor organs, which are limited in supply. Stem cell therapy which is also known as regenerative medicine promotes the repair response of diseased, dysfunctional or injured tissue using stem cells or its derivatives. The global stem cell therapy market was valued at $205.1 million in 2021, and is projected to reach $928.6 million by 2031, growing at a CAGR of 16.2% from 2022 to 2031. Stem cells are the body's raw materials that are the cells from which all other cells with specialized functions are generated.

Stem cell therapy cost