Stem Cell Market Trends

Growth Drivers

• Rising Prevalence of Musculoskeletal Disorders Such as Osteoarthritis- According to the World Health Organization (WHO), nearly 1.71 billion people are affected by musculoskeletal conditions worldwide. According to the CDC, one in four US adults (or 54.4 million) suffer from some form of arthritis, with the number projected to rise to 78 million by 2040. The most common form of arthritis, osteoarthritis (OA), affects 32.5 million adults in the US. Stem cell can help to reduce pain, improve mobility and reduce inflammation associated with musculoskeletal disorders. This has led to an increased interest in stem cell as an alternative to traditional treatments such as surgery.

• Establishment of New Research and Therapy Center for Stem Cells and Cancer - For instance, a new stem cell and cancer research and therapy center was inaugurated by the Global Institute of Stem Cell Therapy and Research (GIOSTAR) in Chandigarh, India, in February 2020. As part of GIOSTAR's global expansion efforts in India, Mexico, the United States, and other countries, this facility marks the latest milestone. Development of a new center can help drive innovation in the field of stem cell therapy, contributing to more effective treatments and better outcomes.

• Increasing Number of Stem Cell-Based Clinical Trials - A preliminary review of 112 stem cell-based clinical trials has been conducted by May 2020. The best results were obtained using hematopoietic stem cells (37%), mesenchymal stem cells (35%), umbilical cord blood (UCB) (23%) and bone marrow (BM)-derived cells (21%).

• Availability of Enormous Amounts of Funds for Stem Cell Research and Development- Research funding for stem cells has increased in recent years. Stem cell research is seen as a promising area of medicine, as it could lead to treatments for incurable diseases and injuries. For instance, a funding award of USD 31 million was granted to Stanford Research in September 2021 by the California Institute for Regenerative Medicine for launching first-in-human trials of stem cells for heart failure, strokes, and spinal cord tumours. Also, a Stem Cell SpaceShot Grant in the field of stem cell biology and regenerative medicine has been announced by TreeFrog Therapeutics in April 2022. The grant amounts to USD 100,000 in research funding.

• Rise in Approval for Stem Cell for Type 1 Diabetes (T1D) - For instance, a clinical trial of VX-880 was initiated by Vertex Pharmaceuticals Incorporated in April 2021 after receiving FDA Fast Track Designation in April 2021. The company is testing it on patients with type 1 diabetes (T1D) who suffer from severe hypoglycemia and are unaware of their hypoglycemia. For the treatment of type 1 diabetes, VX-880 uses fully differentiated, insulin-producing pancreatic islet cells derived from stem cells.

Challenges

• Ethical concerns related to the use of stem cells in treatments- The use of stem cells is highly regulated and can be a source of controversy due to potential ethical issues such as the potential for human embryos to be used in treatments. This has caused many countries to impose regulations on the use of stem cells and has limited the growth of the stem cell market.

• High costs of treatment

• Lack of availability of stem cell sources and the lack of standardization of stem cell