The report “Synthetic Stem Cells Market by Application (Cardiovascular Disease, Neurological Disorders, Other Applications (Cancer, Diabetes, Gastrointestinal, Musculoskeletal Disorders)), Region (North America (US, Canada}, Europe, APAC, RoW) – Global Forecast to 2028″, The synthetic stem cells market size is expected to grow from USD 14 million in 2023 to USD 37 million by 2028, at a CAGR of 22.5% during the forecast period. The major factors driving the synthetic stem cells market include ethical concerns regarding embryonic stem cells and the risk of tumor formation and immune rejection of natural stem cells.
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Key Market Players
The technology is developed and patented by North Carolina State University (NCSU) (US) and Zhengzhou University (China)
The cardiovascular diseases segment is expected to command the largest share of the overall Embryonic stem cells industry during the forecast period.
The synthetic stem cells market, by application, is estimated to be dominated by the cardiovascular diseases segment in 2023. This is attributed to the fact that the synthetic stem cells have been firstly developed for cardiac tissue and are tested in mice models. After the successful pre-clinical testing of cardiac synthetic stem cells, these cells will enter the clinical phase of development and are expected to hit the market by 2023.
By application, the cardiovascular diseases segment accounted for the largest share during the forecast period.
The major applications of synthetic stem cells include cardiovascular diseases, neurological disorders, and other diseases that require regenerative therapy. Cardiovascular diseases have high prevalence across the globe. Currently, synthetic mesenchymal cells have been developed only for cardiac tissue and have been tested in mice models. The research on cardiac synthetic stem cells is expected to enter the clinical phase in the coming 2-3 years, and the first commercial product would be cardiac synthetic stem cells in the next five years.
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Market Size Estimation
The top-down approach was used to estimate and validate the total size of the synthetic stem cells market. The approach was also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- Synthetic stem cells that could be used as therapy were identified through secondary research, and their market shares in the respective segments were determined through primary and secondary research.
- The procedure included extensive interviews with industry leaders such as CEOs, VPs, directors, and marketing executives for key insights.
- All percentage shares, splits, and breakdowns were determined using secondary sources and are verified through primary sources.
- All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
- The above-mentioned data is consolidated and added with detailed inputs and analysis from MarketsandMarkets and presented in this report.
North America to lead the synthetic stem cells market with accelerated R&D activities in natural stem cell therapy research.
North America is estimated to account for the largest share of the market in 2023. North America is the pioneer of synthetic stem cell technology. Also, North America leads in the R&D of stem cell therapies globally, with the registration of the highest number of clinical trials (more than 1400) on stem cells till 2018. This is further backed by the high rate of adoption of advanced therapies in the US (more than 600 stem cell therapy clinics in the US in 2016).
Market Dynamics
Market Drivers
- Ethical Concerns Regarding Embryonic Stem Cells
- Risk of Tumor Formation and Immune Rejection of Natural Stem Cells
Market Restraints
- Unclear and Unstructured Regulations
Market Opportunities
- Costly Storage and Fragility of Natural Stem Cells
- Potential Application in Major Indications
- Increasing Stem Cell Research Funding
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Report Objectives
- To define, describe, and forecast the synthetic stem cells market based on application and region
- To provide detailed information about factors influencing the market growth (drivers, restraints, opportunities, and industry-specific challenges)
- To analyze micromarkets with respect to individual growth trends, prospects, and contribution to the overall market
- To analyze market opportunities for stakeholders
- To forecast the size of the market segments in North America, Europe, Asia Pacific, and the Rest of the World (RoW)
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