Middle East Stem Cell (Adult, Human Embryonic) Market Research Report 2024-2030: Growing Demand for Regenerative Medicine Spurs Stem Cell Therapy Adoption
Dublin, April 10, 2024 (GLOBE NEWSWIRE) -- The "Middle East Stem Cell Market Size, Share & Trends Analysis Report by Product (Adult Stem Cells, Human Embryonic Stem Cells), Application, Technology, Therapy, End-use, Country, and Segment Forecasts, 2024-2030" report has been added to * ResearchAndMarkets.com's* offering.
The Middle East stem cell market size is anticipated to reach USD 1.14 billion by 2030, growing at a CAGR of 7.56% during 2024-2030
The rising prevalence of chronic diseases such as cancer and diabetes, rising awareness about the benefits of stem cell therapies, favorable government initiatives and investments, and a growing demand for regenerative medicine. The advancements in stem cell research and technology are also expected to drive the market growth.
For instance, in September 2023, Abu Dhabi Stem Cells Center, a subsidiary of PureHealth manufactured UAE's inaugural CAR-T cells for treating leukemia in an 11-year-old boy. The development of engineered CAR-T cell therapies signifies an advancement in the treatment of blood cancers.
Collaboration initiatives drive the major Middle East stem cell market by fostering knowledge sharing, interdisciplinary collaboration, access to resources, capacity building, commercialization, and international networking. By leveraging collaborative approaches, stakeholders in the Middle East can accelerate progress in stem cell research and therapy and position the region as a hub for innovation in regenerative medicine.
COVID-19 has led to various challenges and opportunities, reshaping the landscape of stem cell research and therapy in the region. Initially, the outbreak caused disruptions in stem cell research activities, with laboratories closing or operating at reduced capacity due to lockdowns and safety measures. Clinical trials involving stem cell therapies faced delays or suspensions, affecting the progression of research projects.
However, the pandemic also highlighted the importance of stem cell therapies in addressing critical health challenges. Researchers and clinicians redirected their efforts toward exploring the potential of stem cells in combating COVID-19 and its complications. Stem cell-based treatments, such as mesenchymal stem cell therapy, emerged as potential interventions for mitigating severe symptoms and promoting recovery in COVID-19 patients.
The lack of a comprehensive and harmonized regulatory framework for stem cell research and therapy in Middle East poses a significant challenge. Varied regulations and ethical considerations in different countries within the region create complexities for researchers, clinicians, and industry stakeholders. There needs to be more widespread understanding and awareness about stem cell research and its potential applications among the public in the Middle East.
Misconceptions and ethical concerns surrounding stem cell therapy may hinder acceptance and adoption, leading to reluctance from patients and healthcare providers. Stem cell research and therapy need more infrastructure and expertise to advance scientific discoveries and translate them into clinical applications. The availability of state-of-the-art facilities, skilled personnel, and collaborations with international experts are crucial for fostering innovation in the field.
*Middle East Stem Cell Market Report Highlights*
· Adult Stem Cells (ASCs) dominated the product segment with 81.65% share in 2023 owing to the increasing prevalence of chronic diseases in adults
· The regenerative medicine application segment held the larger market share in 2023. On the other hand, the drug discovery and development segment is expected to grow at a higher CAGR during the forecast period.
· In 2023, cell acquisition dominated the technology segment and Cell production is expected to at the significant CAGR over the forecast period
· In 2023, allogenic dominated the therapy segment and autologous are expected to at the significant CAGR from 2024 to 2030
· Pharmaceutical and biotechnology companies dominated the end-user segment with the largest share in 2023.
· Saudi Arabia dominated the stem cell market in Middle East with a share of 41.96% owing to factors such as the high purchasing power parity, government support for quality healthcare, and availability of reimbursement.
*Key Attributes:*
*Report Attribute* *Details*
No. of Pages 90
Forecast Period 2023 - 2030
Estimated Market Value (USD) in 2023 $694 Million
Forecasted Market Value (USD) by 2030 $1146.2 Million
Compound Annual Growth Rate 7.5%
Regions Covered Middle East*Market Dynamics*
Market Driver Analysis
· Rising Funds for Accelerating Stem Cell Research
· Growing Demand for Stem Cell Banking
· Increasing Prevalence of Genetic Disorders
Market Restraint Analysis
· Ethical Concern Related to Stem Cell Research
· Lack of a Well-Defined Regulatory Framework In Certain Applications Of Stem Cell
Industry Analysis Tools
· Porter's Five Forces Analysis
· PESTEL Analysis
· COVID-19 Impact Analysis
*Competitive Landscape*
· Thermo Fisher Scientific, Inc.
· STEMCELL Technologies Inc.
· Merck KGaA
· CellGenix GmbH
· Takara Bio
· Lonza
· Cellartis AB
· ATCC
· AcceGen
· Cell Applications, Inc.
· Bio-Techne
For more information about this report visit https://www.researchandmarkets.com/r/8qrsxx
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*Attachment*
· Middle Eastern Stem Cell Market
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