Transparency Market Research, in a report titled “Stem Cells Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018”, states that the global stem cells market is projected to witness remarkable growth from 2012 to 2018, fueled by increasing government support, unmet medical needs, rising stem cell banking services, and growing medical tourism. Driven by these factors, the global stem cells market is anticipated to expand at a 24.20% CAGR during the forecast period, rising from a value of US$26.2 bn in 2013 to US$119.5 bn by 2018.

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Rise in disposable income in emerging economies, the increasing prevalence of neurodegenerative disorders, development of the contract research industry, and replacement of animal tissue in drug discovery are also anticipated to contribute towards the overall growth of the stem cells market.By product, the stem cells market is categorized into adult stem cells, induced pluripotent stem cells, very small embryonic-like stem cells, human embryonic stem cells, and rat neural stem cells. Adult stem cells, which dominated the overall market in 2011, include mesenchymal stem cells, dental stem cells, neuronal stem cells, hematopoietic stem cells, and umbilical cord stem cells.

Unmet Medical Needs and Increasing Government Support Boost Global Stem Cells Market

As the volume of unmet medical needs and incidence of chronic illnesses grows, it fuels the number of R&D activities in the field of stem cells. Improved government support and availability of funding for clinical research in stem cells have fostered increased growth opportunities for the stem cells market. The market for stem cells is also capitalizing on the growing awareness regarding the available options for regenerative treatment, the importance of stem cells in drug discovery, and stem cells banking services.

Rapid proliferation of medical tourism facilities across countries such as India, Brazil, China, Malaysia, and Mexico also aids the development of the stem cells market in Latin America and Asia Pacific. Apart from the aforementioned market drivers, a multitude of factors present substantial growth opportunities before the market, such as rising disposable incomes in developing economies, development of the contract research industry, increasing prevalence of neurodegenerative diseases, and the need to replace animal tissue in drug discovery.   

North America Leads Global Stem Cells Market, Asia Pacific to Register Fastest Growth

Regionally, the global stem cells market is segmented into Europe, Asia Pacific, North America, and Rest of the World. Of these regions, North America led the global stem cells market in 2011, holding a majority share in the global market. The region was followed by Europe, with a share of over 25% of global stem cells market the same year. High prevalence of neurological and cardiac diseases in the U.S, which, according to the Centers for Disease Control and Prevention, causes more than 50% of the total deaths in the country every year, is a significant factor contributing to the growth of the stem cells market in North America. 

In the next couple of years, the stem cells market in Asia Pacific is expected to register a double-digit CAGR. The rapidly growing sector of medical tourism and increase in contract research outsourcing to the region are the factors likely to boost the stem cells market in Asia Pacific.

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