North America Is Dominating Stem Cell Therapy Industry

The global stem cell therapy market was 306.1 million USD in 2023 and is estimated to grow at an annual rate of 16.9% from 2024 until 2030 with a forecasted value of USD 910.8 million. This growth of the market can be credited to the growing occurrence of traumatic wounds, orthopedic conditions, neurological illnesses, and autoimmune diseases, such as multiple sclerosis, stroke, lupus, Parkinson’s disease, COPD, and amyotrophic lateral sclerosis (ALS).

In 2023, allogeneic stem cell therapy had the largest share, 60%, and the same is also projected to advance at a CAGR of 17.0% during the projection period. This can be credited to the surge in the count of clinical trials for the growth of such treatments. The major benefit of an allogeneic transplant is that the graft does not have any polluting tumor cells. The graft also comprises immunocompetent cells derived from a donor, which might add an immune graft-versus-malignancy effect.

Furthermore, numerous studies on stem cell transplants have displayed potential results. For example, a study published in Clinical Cancer Research, a journal of the American Association for Cancer Research, in January 2023 says that an investigational allogeneic T-cell treatment, which simultaneously aims 6 different viruses, has shown advanced safety and efficacy in phase II clinical trial on patients who had gone through stem cell transplantation to cure cancer and certain blood-linked illnesses.

In 2023, on the basis of the application segment, the musculoskeletal disorders category produced the highest revenue. This can be credited to the growing occurrence of musculoskeletal sicknesses, such as osteoarthritis, carpal tunnel syndrome, lower back injuries, and muscle strains. As per the WHO, around 1.71 billion individuals have a musculoskeletal condition worldwide.

In 2023, North America accounted for the largest share of 55 %; this is expected to rise significantly at a compound annual growth rate between 2024 and 30. The funding for the development of stem cell therapies in this area has been credited with that. For example, in September 2022, Forge Biologics Inc., a contract development and manufacturing organization focused on gene therapy announced that it had raised USD 90 million in a Series C funding round with an additional undisclosed strategic investor cooled by Drive Capital and Aisling Capital together with another unknown strategic investor.

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North America Is Dominating Clinical Trial Supplies Industry

The value of the clinical trial supplies market stood at USD 4,001.1 million in 2023, and this number is projected to reach USD 7,763.9 million by 2030, advancing at a CAGR of 10.1% during the projection period.

This growth of the market can be credited to the growing demand for more-progressive treatments, like modified drugs; growing research and development investment of pharmaceutical and biopharmaceutical businesses, and increasing occurrence of illnesses, which basically leads to the development of new medicines.

In the past few years, the count of clinical trials has increased significantly. In 2023, approximately 0.4 million scientific studies were listed with the U.S. government. The increasing count of clinical trials is directly related to the demand for the needed supplies. The surge in research and development expenditure has aided in boosting the innovative drug growth process, therefore growing the count of trials carried out.

Geographically, North America held the largest clinical trial supplies market share, of 45%, in 2023, due to the rising number of clinical trials with the strengthening focus on the development of better and safer medicines.

The increasing prevalence of all kinds of diseases, the growing number of pharma and biotechnology companies, and favorable government legislations for pharma R&D essentially led to the rise in the demand for the various supplies required during the clinical studies of investigational drugs.

In 2023, the North American region had the largest clinical trial supplies market share, of 45%, mainly because of the increasing count of clinical trials with the strong emphasis on the growth of better and safer drugs.

The growing occurrence of all types of illnesses, increasing count of biotechnology and pharma companies, and supportable government regulations for pharma research and development basically led to the surge in the demand for the numerous supplies needed during the clinical studies of investigational medicines.

A count of key pharmaceutical businesses, like Hoffmann-La Roche Ltd., Pfizer Inc., Novartis AG, Sanofi, and Bristol Myers Squibb are headquartered or functional in the U.S.

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