Animal Stem Cell Therapy Market to Reach $440.0 Million, Globally, by 2033 at 5.6% CAGR: Allied Market Research

PORTLAND, KS, UNITED STATES, November 21, 2024 /EINPresswire.com/ -- According to the report, the animal stem cell therapy market was valued at $256.0 million in 2023, and is estimated to reach $440.0 million by 2033, growing at a CAGR of 5.6% from 2024 to 2033.

The animal stem cell therapy market is primarily driven by the increasing prevalence of chronic diseases and orthopedic conditions in pets and livestock, which necessitate advanced and effective treatment options. Additionally, rising pet ownership and the humanization of pets have led to greater willingness among pet owners to invest in cutting-edge medical treatments. Advances in veterinary medicine and biotechnology, along with supportive regulatory frameworks, have also facilitated the development and commercialization of stem cell therapies. Furthermore, growing awareness among veterinarians and pet owners about the benefits of stem cell therapy, including improved quality of life and reduced recovery times, significantly contributes to market growth.

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Segment Highlights:

The allogenic segment to maintain its lead position during the forecast period

Based on type, the allogenic segment accounted for the largest share in 2023 in animal stem cell therapy market as it offer significant advantages in terms of convenience and scalability. Unlike autologous stem cells, which are sourced from the patient’s own body, allogenic stem cells can be prepared and stored in advance, allowing for immediate availability when needed. This readiness is particularly crucial in emergency cases or when immediate intervention is required. Furthermore, the use of allogenic stem cells eliminates the need for invasive procedures to harvest cells from the patient, reducing stress and recovery time for the animal. Advances in immunomodulation and tissue matching have also minimized the risk of rejection and adverse reactions, making allogenic therapies safer and more effective.

The dog segment to maintain its lead position during the forecast period

Based on species, the dog segment accounted for the largest share in 2023 in animal stem cell therapy market. The growth is attributed to the high prevalence of age-related and degenerative conditions in dogs, coupled with the strong emotional bond between dogs and their owners. Dogs are prone to various health issues as they age, including osteoarthritis, hip dysplasia, and ligament injuries, which can significantly impact their quality of life. Stem cell therapy offers a promising treatment option by harnessing the regenerative properties of stem cells to repair damaged tissues and alleviate pain.

Moreover, pet owners are increasingly seeking advanced medical solutions to improve the health and well-being of their dogs, viewing them as integral members of the family. This emotional connection motivates owners to explore innovative therapies like stem cell treatments, which can provide long-term benefits and potentially reduce the need for invasive surgeries or long-term medication.

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Regional Outlook:

North America to maintain its dominance by 2033

By region, North America held the largest market share in terms of revenue in 2023 and is expected to dominate the market during the forecast period. This is attributed to high rate of pet ownership, with pets increasingly considered as family members, leading to a greater willingness among pet owners to invest in advanced veterinary treatments. This includes seeking non-surgical solutions for chronic conditions such as osteoarthritis and tendon injuries, where stem cell therapy offers promising outcomes. Additionally, North America benefits from a robust infrastructure supporting biotechnology and healthcare innovation, fostering extensive research and development in animal stem cell therapies. Collaborative efforts between academic institutions, veterinary clinics, and biotechnology companies accelerate the translation of scientific discoveries into practical applications, enhancing the availability and efficacy of these treatments. Furthermore, a supportive regulatory environment, with agencies like the FDA providing clearer guidelines and faster approval processes, encourages the introduction and adoption of new stem cell therapies.

Key Players:

Aratana Therapeutics, Inc.

VetStem, Inc.

Regeneus Ltd.

Magellan Stem Cells

PrimeGen Biotech, LLC

Vetbiologics (U.S. Stem Cell, Inc.)

Boehringer Ingelheim (Global stem cell technology)

Cell Therapy Sciences

VETherapy Corporation

MediVet Biologics LLC (Ardent Animal Health)

The report provides a detailed analysis of these key players in the global animal stem cell therapy market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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Recent Development

In January 2021, Boehringer Ingelheim has entered into a partnership with PetMedix, a UK based research and development stage biopharmaceutical company. Strengthening partnerships to accelerate innovation and growth is now one of the key elements of Boehringer Ingelheim's refocused strategy.

In July 2019, Elanco Animal Health Incorporated acquired Aratana Therapeutics, a pet therapeutics company focused on developing and commercializing innovative therapeutics for dogs and cats, and developer of the first-of-its-kind canine NSAID for osteoarthritis, Galliprant.

In March 2019, Medrego unveiled a groundbreaking stem cell therapy solution dedicated to enhancing the health and vitality of dogs. Introducing CaniCell, a cutting-edge product specifically designed for the treatment of conditions such as osteoarthritis and various degenerative diseases prevalent in canine companions.

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