Mesenchymal Stem Cells Market Size, Share & Trends Analysis Report By Product & Services, By Type, By Source Of Isolation (Bone Marrow, Cord Blood), By Indication, By Application, By Region, And Segment Forecasts, 2021 - 2028

Report Overview 

The global mesenchymal stem cells market size was valued at USD 2.4 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 12.6% from 2021 to 2028. An exponential rise in mesenchymal stem cell (MSC) based research and its implications in the field of regenerative medicine fuel the growth of the market. The constantly evolving landscape of stem cell therapies is also expected to propel investments in the MSC market space; large-scale operational entities are targeting small or emerging players with an operating strategy of acquisition in order to boost their market presence.

The strong pipeline of mesenchymal stem cell-based products coupled with emerging applications of mesenchymal stem cells is anticipated to accelerate the market growth. As of 2019, 10 mesenchymal stem cells based products have received approval from regulatory bodies across the world. Moreover, a substantial number of companies are exploring the potential of MSCs as therapeutics targeted at the treatment of inflammatory disorders, in turn boosting the market growth.

For instance, Takeda/TiGenix phase 3 clinical trial incorporates MSCs for complex perianal fistulas in Crohn's Disease. This is the most successful late-stage clinical trial as of September 2020. These factors are anticipated to bolster the usage of MSC products offered by key market entities, thereby intensifying the market competition. The recent pandemic outbreak of COVID-19 has driven the focus of the scientific community and industry participants towards the development of MSC-based therapeutics. The immunomodulation property of MSCs makes them a potential therapeutic approach to prevent respiratory infection caused by COVID-19.

As of July 2020, more than 50 clinical trials have been reported to incorporate MSCs in the development of therapeutics associated with SARS-CoV-2 infection. Additionally, an increasing number of research activities around the development of novel vaccine platforms, involve MSCs. For instance, in June 2020, a group of research professionals in China described a novel approach for designing COVID-19 vaccines based on engineered human MSCs, with promising as well as favorable antibody response.

The majority of the mesenchymal stem cell applications are oriented towards research and clinical settings with comparatively lesser penetration across commercial applications. This is primarily attributed to the lack of standardized and regulated delivery of stem cell therapies; and ethical as well as safety concerns associated with human MSCs. Developments in the regulations and standardization of the mesenchymal stem cell industry are imperative to maintain market growth.

Products & Services Insights

The products segment dominated the market and accounted for the largest revenue share of 79.1% in 2020. Among the products, the cells and cell lines segment has emerged as a key contributor to the segment’s revenue. Several market players are engaged in capturing untapped avenues of this market space by undertaking various initiatives such as new product development, business expansion. These players offer mesenchymal stem cells and cell lines to support the research community.

The kits, media, and reagents segment is expected to register the highest growth rate of 13.4% from 2021 to 2028. Expanding product lines by competitors serves as the key attributive factor to the segment’s fast-paced growth. In March 2020, researchers from China developed a full chemical-defined medium - NBVbe medium that supports the isolation of human MSCs. This new product is expected to aid the optimization of MSC medium, molecular characterization, and clinical applications.

The continuous evolution of mesenchymal stem cell culture and cryopreservation techniques has made significant contributions to the revenue generated by MSC workflows. The culture and cryopreservation workflow segment has generated the highest revenue in 2020, representing a share of 44.8%. This is attributed to the integral importance of cell culture and cryopreservation techniques to achieve successful transitional research and basic research pertaining to mesenchymal stem cells.

Type Insights

The allogeneic MSCs segment dominated the market and accounted for the largest revenue share of 54.3% in 2020. This is attributed to the high safety profile of allogeneic mesenchymal stem cells in clinical applications. Additionally, implantation of allogeneic MSCs is set to emerge as a pioneering cell-based therapeutic approach owing to the associated low immunogenicity coupled with immunosuppressive properties. These properties result in a reduced immune response, which in turn contributes to the success of allogeneic MSC implantations.

On the other hand, the use of autologous mesenchymal stem cells has undergone various advances in the past few years. The segment is expected to register a CAGR of 13.2% over the forecast period. Various studies are being conducted using autologous MSCs for the treatment of various diseases. For instance, in July 2019, researchers from Mayo Clinic conducted a phase I/II study to explore intrathecal administration MSCs as a treatment for multiple system atrophy (MSA).

Source of Isolation Insights

The bone marrow segment dominated the market and accounted for the largest revenue share of 25.8% in 2020. Bone marrow is a major source of isolation for mesenchymal stem cells. These cells have multilineage differentiation potential and are able to differentiate into bones, cartilage, tendons, fibroblasts, fat, cardiac muscle cells, and endothelial cells. According to an article published in December 2019, bone marrow aspirates from the pelvis is the most frequently used source of MSCs for clinical trials. This has contributed to the segment’s dominance from 2021 to 2028.

Whereas, MSCs derived from adipose tissues have pegged the second position in the market in terms of revenue share. The segment is expected to register a CAGR of 12.9% over the forecast period. These offer multipotent mesenchymal stem cells exhibiting several advantages across extraction, isolation, and expansion along with robust cell concentration. The unique characteristics of adipose-derived mesenchymal stem cells make the application of these cells advantageous as compared to others. Moreover, the use of autologous adipose-derived MSCs is promising for both organs damaged by disease and injury and regenerative medicine.

Indication Insights

The cardiovascular diseases segment dominated the Mesenchymal Stem Cells (MSCs) market and accounted for the largest revenue share of 22.0% in 2020. Several pre-clinical studies have shown that the transplantation of mesenchymal stem cells improves cardiovascular repair, which has strengthened the penetration of MSCs in cardiovascular disease indications. This is also attributed to the properties of MSCs such as increasing apoptosis resistance, promoting the differentiation of myocardial cells, inhibiting fibrosis, reducing the level of inflammation, and promoting angiogenesis.

Moreover, according to a meta-analysis and systemic review published in May 2019, with the improvements in exercise capacity and prognosis, mesenchymal stem cell treatment is an effective treatment for heart failure. Such factors are anticipated to positively impact segment growth in the coming years. Mesenchymal stem cells derived from bone marrow, have been shown to undergo differentiation to form cartilage, fat lineages, and bone in vitro.

This has gained significant traction across clinical applications associated with the Graft versus Host Disease (GvHD), contributing to the highest growth rate of 14.4% from 2021 to 2028. In addition, since the last decade, oncology applications of cell therapies have witnessed rapid developments with the MSCs at the forefront. As of February 2020, 25 clinical trials have been registered that have employed MSCs in the treatment of several cancer indications. The cancer indication segment is expected to register a CAGR of 13.1% from 2021 to 2028.

Application Insights

The disease modelling application segment dominated the market and accounted for the largest revenue share of 35.8% in 2020. The use of cellular disease models with patient-specific MSCs provides an ideal tool for pathological research. The mesenchymal stem cells derived from patient Induced Pluripotent Stem Cells serve as a potential disease modelling tool. The increasing number of research studies has used mesenchymal stem cell models to analyze the underlying mechanisms of chronic disorders. Moreover, MSCs are also used as models in the assessment of non-hematological mesenchymal cancers such as sarcomas, which has contributed to the dominance of this segment.

The tissue engineering application segment is set to grow at a rapid pace of 13.4% from 2021 to 2028. Mesenchymal stem cells have emerged as a promising therapeutic approach in tissue engineering. Owing to their high capacity of expansion, self-renewal, and reduced tumorigenic capacity, these cells have widespread applications. Mesenchymal stem cell encapsulation techniques have gained immense demand in this market space in recent years.

Regional Insights

North America dominated the market and accounted for the largest revenue share of 52.1% in 2020. A substantial number of clinical trials are underway to assess the efficacy and safety of mesenchymal stem cells as a viable treatment, for several life-threatening diseases in the U.S.Furthermore, a significant number of major companies that are engaged in the supply and commercialization of MSCs are headquartered in the U.S. These factors have contributed to the dominance of the region in the market.

A strong research base to evaluate the implications of clinical scale manufacturing of mesenchymal stem cells coupled with improved funding programs from various public and private organizations is expected to drive the adoption of MSCs across the European countries. Countries in the Asia Pacific region are expected to create strong competitors in this space.

Lack of financial support for risky surgical procedures, and limited access to healthcare in the Asia Pacific region have resulted in increasing adoption of stem cell therapies. Large population size and low operating cost are attributive to the acceptance of MSCs in this region. Furthermore, China is recognized as the hub for cell and gene therapy development and has pegged the second position across the globe in terms of clinical trials; with more than 1,000 ongoing clinical trials between 2017 and 2019.

Key Companies & Market Share Insights

Market players are focused on the expansion of their offerings through extensive R&D and the formation of alliances and partnerships with other major players to sustain their market position. Owing to the recent pandemic of COVID-19, several research and academic research institutes are making focused efforts to develop a treatment regime by using mesenchymal stem cells.

For instance, in April 2020, a team of US researchers received the U.S. FDA approval to initiate the clinical trial for the evaluation of umbilical cord-derived mesenchymal stem cells to prevent lung inflammation in severe cases of COVID-19 infection. On the other hand, in August 2019, Bayer AG invested USD 600 million to acquire BlueRock Therapeutics to strengthen its market presence in stem cell therapies. Such notable mergers and acquisitions are anticipated to support market growth. Some of the prominent players in the mesenchymal stem cells market include:

• Thermo Fisher Scientific, Inc.

• Cell Applications, Inc.

• Axol Biosciences Ltd.

• Cytori Therapeutics Inc

• STEMCELL Technologies Inc

• Cyagen Biosciences Inc.

• Celprogen Inc

• BrainStorm Cell Therapeutics Inc.

• Stemedica Cell Technologies Inc

• Merck KGaA (MilliporeSigma)

• Smith+Nephew

• Lonza AG

• PromoCell GmbH

• ScienCell Research Laboratories

• American Type Culture Collection

Mesenchymal Stem Cells Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2028. For the purpose of this study, Grand View Research has segmented the global Mesenchymal Stem Cells market report on the basis of products and services, type, source of isolation, indication, application, and region:

• Product & Services Outlook (Revenue, USD Million, 2017 - 2028)

  • Products

    • Workflow Type

      • Cell Sourcing & Isolation

      • Culture & Cryopreservation

      • Differentiation

      • Characterization

    • Product Type

      • Cells & Cell Lines

      • Kits, Media, & Reagents

      • Others

  • Services

• Type Outlook (Revenue, USD Million, 2017 - 2028)

  • Autologous

  • Allogeneic

• Source of Isolation Outlook (Revenue, USD Million, 2017 - 2028)

  • Bone Marrow

  • Cord Blood

  • Peripheral Blood

  • Fallopian Tube

  • Fetal Liver

  • Lung

  • Adipose Tissues

• Indication Outlook (Revenue, USD Million, 2017 - 2028)

  • Bone And Cartilage Repair

  • Cardiovascular Disease

  • Inflammatory And Immunological Diseases

  • Liver Diseases

  • Cancer

  • GvHD

  • Others

• Application Outlook (Revenue, USD Million, 2017 - 2028)

  • Disease Modelling

  • Drug Development & Discovery

  • Stem Cell Banking

  • Tissue Engineering

  • Toxicology Studies

  • Others

• Regional Outlook (Revenue, USD Million, 2017 - 2028)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

  • Asia Pacific

    • Japan

    • China

    • India

    • South Korea

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa

    • South Africa

    • Saudi Arabia