A three-pronged approach was followed for deducing the stem cells market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:
Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for stem cells market to gather the most reliable and current information possible.
Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of stem cells market data depending on the type of information we’re trying to uncover in our research.
Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.
Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.
Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.
Qualitative Functional Deployment (QFD) Modelling for market share assessment.
Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.
Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.
Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.
This step also entails the finalization of the report scope and data representation pattern.
Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.
The stem cells market was categorized into six segments, namely product (Adult Stem Cells, Human Embryonic Stem Cells, Induced Pluripotent Stem Cells, Very Small Embryonic Like Stem Cells), application (Regenerative Medicine, Drug Discovery And Development), technology (Cell Acquisition, Cell Production, Cryopreservation, Expansion And Sub-Culture), therapy (Autologous, Allogenic), end-use (Pharmaceutical & Biotechnology Companies, Hospitals & Cell Banks, Academic & Research Institutes), and region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).
The stem cells market was segmented into product, application, technology, therapy, end-use, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:
Demand estimation of each product across countries/regions summed up to from the total market.
Variable analysis for demand forecast.
Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.
Primary interviews for data revalidation and insight collection.
Used extensively for new product forecasting or analyzing penetration levels.
Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.
Primary interviews and vendor-based primary research for variable impact analysis.
The stem cells market was analyzed at a regional level. The global was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-three countries, namely, the U.S.; Canada; the UK; Germany; France; Italy; Spain; Denmark; Sweden; Norway; Japan; China; India; South Korea; Australia; Thailand; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE; Kuwait.
All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.
The stem cells market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:
PLURISTEM THERAPEUTICS, INC., Pluristem Therapeutics, Inc. is a clinical-stage company involved in the development of cell therapies. It uses its proprietary 3D technology and placental cells to develop therapies. The company focuses on conditions such as hematological disorders, inflammations, ischemia, or radiation exposure. The company is involved in the development of therapies for acute radiation syndrome, recovery after surgery for femoral neck fracture, and critical limb ischemia. The U.S. FDA along with Japanese, European, and Israeli regulatory authorities have approved the production of PLX-PAD for late-stage trials at their manufacturing facilities and its marketing.
STEMCELL TECHNOLOGIES, INC., STEMCELL Technologies, Inc. is involved in the development and supply of systems, products, and accessories for life science research. Products offered by the company include cell culture media and cell separation products. These products have applications in various research fields, including neuroscience, hematology, stem cells, immunology, epithelial cell biology, and mesenchymal cells. It also offers instruments, antibodies, cytokines, contract assay, and proficiency testing services. The company operates in over 80 countries around the world, serving research tools for embryonic cells, neural stem cells, hematopoietic stem cells, induced pluripotent stem cells, and other types of cells. It was founded in 1993 and is headquartered in Vancouver, Canada.
THE BRISTOL-MYERS SQUIBB COMPANY, The Bristol-Myers Squibb Company, a known biopharmaceutical company, has delivered innovative medicines to aid patients in prevailing over critical diseases. Many of the drugs that were developed helped lots of patients to fight against life-threatening diseases such as cardiovascular disease, cancer, hepatitis B, and HIV. In the last ten years, Bristol Myers has delivered around 15 new drug molecules of which four are biologics. The company recently entered the gene therapy field through collaboration with uniQure N.V for the development of novel gene-altering drugs for cardiovascular diseases. It was established in 1887 and is headquartered in New York, U.S.
LISATA THERAPEUTICS, Lisata Therapeutics is a biopharmaceutical company involved in developing cell therapies based on various technologies such as T regulatory cell and CD34 cell technology, particularly in autoimmune and cardiovascular diseases. The company is involved in creating awareness about cell therapies and their potential to assist in the healing the body. In September 2022, the company changed its corporate name from Caladrius Biosciences, Inc. to Lisata Therapeutics, which reflected its transformation into an immunotherapy company. It was established in 1980 and is headquartered in New Jersey, U.S.
CELLULAR ENGINEERING TECHNOLOGIES, Cellular Engineering Technologies is a biotechnology company that specializes in tissue engineering, stem cell research, regenerative & personalized medicine, development of cell-based assays, and cancer biology. It develops technologies for preclinical drug discovery. It also provides nonembryonic stem & ancillary cells, cell lines, and immunological cells of human donors. Furthermore, it researches stem cells isolated from human nonembryonic sources, including bone marrows, adipose tissues, umbilical cord blood, placentas, and Wharton's jellies. In addition, it offers preclinical & translational research that involves characterizing cancer cell & synthetic biomaterials. It develops a systems biology approach for the prediction and modeling of cellular & tissue responses to pharmacological stimuli, which evaluates and quantifies kinetic responses of intracellular metabolic activities. Their product portfolio includes bioelectrode cell-based assays for drug screening & discovery, cell proliferation monitoring, chemotherapeutic agent testing, cellular adhesion & spreading, G protein activation studies, barrier function analysis, functional receptor-mediated signaling, and bacterial & viral infection quantification.
LINEAGE CELL THERAPEUTICS, INC., Lineage Cell Therapeutics, Inc. (formerly known as BioTime Inc.,) engineers and provides solutions for chronic degenerative diseases by supplying healthy cells, tissues, & organs. It utilizes advancements in biomaterials, biologics, and lab-generated cells & tissues, along with stem cell biology. Asterias Biotherapeutics, Inc.; LifeMap Sciences; LifeMap Solutions; Ascendance Biotechnology; OrthoCyte Corporation; ReCyte Therapeutics, Inc.; OncoCyte Corporation; and Cell Cure Neurosciences Ltd. are subsidiaries of Lineage Cell Therapeutics. Cell Cure Neurosciences Ltd. was acquired by the company in 2010. It was established in 1990 and is headquartered in CA, U.S.
BRAINSTORM CELL LIMITED, BrainStorm Cell Limited is involved in the development of autologous stem cell therapies for the treatment of neurodegenerative disorders, including Multiple Sclerosis (MS), Parkinson's disease, and Lou Gehrig's disease (Amyotrophic Lateral Sclerosis [ALS]). The company has initiated various clinical and preclinical programs for various diseases such as ALS, progressive MS, and autism.
GILEAD SCIENCES, INC., Gilead Sciences, Inc. is a pharmaceutical company that provides a platform for the development of new therapeutics. The company offers a treatment regime for HIV infection, cancer, respiratory disease, liver disease, and cardiovascular disease. Gilead operates in more than 30 countries worldwide. The company's portfolio includes 23 approved and commercially available products, as well as some therapeutics products that are under clinical trials. Gilead acquired Kite Pharma for 12 billion USD in 2017.
PROMOCELL GMBH, PromoCell GmbH is a biotechnology company that offers a comprehensive portfolio of around 7,000 cell culture and cell biology products. Products of the company are used for diverse applications, such as cancer research, and immuno-oncology, diabetes, cardiovascular, & respiratory research. The company operates in more than 50 countries across different regions, including North America, Asia, and Europe. It was founded in 1990 and is headquartered in Heidelberg, Germany.
SARTORIUS CELLGENIX GMBH, Sartorius CellGenix GmbH is a leading provider of ancillary and raw materials for gene & cell therapy, along with regenerative medicine. The company designs, develops, and commercializes human cytokines, growth factors, & other recombinant cell culture components as per GMP quality. The products are distributed across the globe and their major users are academia & industry players in commercial manufacturing & clinical trials. The development of ATMP expanded its reach in the cell culture market and added regulatory expertise. The company was established in 1994 and is headquartered in Freiburg, Germany.
Supply Side Estimates
Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.
Segment revenue determination via variable analysis and penetration modeling.
Competitive benchmarking to identify market leaders and their collective revenue shares.
Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.
Demand side estimates
Identifying parent markets and ancillary markets
Segment penetration analysis to obtain pertinent
Heuristic forecasting with the help of subject matter experts
Forecasting via variable analysis
Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.
Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.
Understanding market estimates and forecasts (with the base year as 2022, historic information from 2019 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.
The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.
The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.
We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.
All market estimates and forecasts have been validated through primary interviews with the key industry participants.
Inflation has not been accounted for to estimate and forecast the market.
Numbers may not add up due to rounding off.
Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).
Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).
Latin America includes Central American countries and the South American continent
Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.
GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.
We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:
Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.
Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.
The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.
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