#Stem #Cell #Therapy #Market #Reach #USD #Million
Portland, OR, Oct. 14, 2022 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global stem cell therapy market generated $205.1 million in 2021, and is expected to reach $928.6 million by 2031, manifesting a CAGR of 16.2% from 2022 to 2031. The report offers an extensive analysis of changing market dynamics, top segments, value chain, competitive landscape, and the Covid-19 pandemic impact. This report provides detailed information for market players, stakeholders, investors, and startups to help them devise strategies for gaining competitive edge and sustainable growth.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $205.1 million |
| Market Size in 2031 | $928.6 million |
| CAGR | 16.2% |
| No. of Pages in Report | 274 |
| Segments covered | Cell Source, Application, Type, and Region. |
| Drivers | Rise in government support for research and development activities |
| Surge in healthcare expenditure | |
| Opportunities | Increase in prevalence of diseases such as cancer |
| New product launches associated to the stem cell therapy | |
| Restrains | Limitations on the use of embryonic stem cells due to ethical concerns and high cost of stem cell therapy |
Covid-19 Scenario:
- The Covid-19 pandemic made a negative impact on the stem cell therapy market, owing to disruptions and complexities in supply chain, manufacturing, and logistics processes. The costs and reimbursements related to the stem cell therapy were surged during the pandemic, owing to the lockdown restrictions imposed during pandemic.
- The research and development activities were affected during the pandemic due to lockdown restrictions and lack of new investments. Many investors froze the investments for the uncertain period of time to cope up with the economic uncertainties.
- Many medical procedures involving stem cell therapy…
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