South Africa Mesenchymal Stem Cells Market Size & Outlook
South Africa mesenchymal stem cells market, 2018-2030 (US$M)
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South Africa mesenchymal stem cells market highlights
- The South Africa mesenchymal stem cells market generated a revenue of USD 9.7 million in 2023 and is expected to reach USD 20.2 million by 2030.
- The South Africa market is expected to grow at a CAGR of 11.1% from 2024 to 2030.
- In terms of segment, product was the largest revenue generating product & services in 2023.
- Services is the most lucrative product & services segment registering the fastest growth during the forecast period.
Mesenchymal stem cells market data book summary
| Market revenue in 2023 | USD 9.7 million |
| Market revenue in 2030 | USD 20.2 million |
| Growth rate | 11.1% (CAGR from 2023 to 2030) |
| Largest segment | Product |
| Fastest growing segment | Services |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Product, Services |
| Key market players worldwide | Thermo Fisher Scientific Inc, STEMCELL Technologies, Merck KGaA, Lonza Group Ltd, PromoCell GmbH, Cyagen Biosciences, Stemedica Cell Technologies, Axol Bioscience, Celprogen, Cellcolabs, Visual Photonics Epitaxy |
Other key industry trends
- In terms of revenue, South Africa accounted for 0.3% of the global mesenchymal stem cells market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, Saudi Arabia mesenchymal stem cells market is projected to lead the regional market in terms of revenue in 2030.
- UAE is the fastest growing regional market in Middle East & Africa and is projected to reach USD 11.6 million by 2030.
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Mesenchymal Stem Cells Market Scope
Mesenchymal Stem Cells Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Africa mesenchymal stem cells market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to mesenchymal stem cells market will help companies and investors design strategic landscapes.
Product was the largest segment with a revenue share of 79.38% in 2023. Horizon Databook has segmented the South Africa mesenchymal stem cells market based on product, services covering the revenue growth of each sub-segment from 2018 to 2030.
Human embryonic stem cell use and research are at a nascent stage in South Africa. Stem cell research in South Africa relies more on cultural and regional beliefs. Morality and beliefs surrounding the use of stem cells harvested from human embryos are restricting the use of stem cells in Africa.
Furthermore, stem cell research regulatory legislation exists in the country. However, the enforcement of these regulations is not strict and can be exploited by medical scientists involved in stem cell tourism. Thus, such unethical factors related to stem cell research can hamper growth of the mesenchymal stem cell market in the country.
However, the availability of institutes like the South African Stem Cell Institute focusing on stem cell therapy and stem cell-based research activities is expected to boost the demand for MSCs and their products in the country in the coming years.
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Our clientele includes a mix of mesenchymal stem cells market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Africa mesenchymal stem cells market , including forecasts for subscribers. This country databook contains high-level insights into South Africa mesenchymal stem cells market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Africa mesenchymal stem cells market size, by product & services, 2018-2030 (US$M)
South Africa Mesenchymal Stem Cells Market Outlook Share, 2023 & 2030 (US$M)
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