Stem Cell Therapy Market Overview
Stem-cell therapy simply put is the utilization of stem cells for preventing or treating a condition or disease. For over 55 years, stem cells have been used for treating serious diseases including cancer, dementia, type 1 diabetes, arthritis, stroke, heart disease, Alzheimer’s disease, amyotrophic lateral sclerosis, Parkinson’s disease, spinal cord injuries, burns and osteoarthritis. The stem cells are generally undifferentiated cells which are differentiated into the specialized cell types. There are a couple of key factors that is responsible for the massive growth of the global stem cell therapy market. These include new developments in the banking infrastructure of stem cells, increasing research in new stem cell line identification, rising public-private investment in stem cell research, development of latest genetic analysis techniques, increasing research for application of stem cell therapy and the increasing awareness for stem cells therapeutic application in disease management.
Resultantly, the global Stem Cell Therapy Market is rising pervasively, witnessing increasing uptake of this therapeutics. The market is exploding with a number of researches currently ongoing, and there have been several breakthrough outcomes as well. According to Market Research Future (MRFR), the global stem cell therapy market is booming and expected garner fabulous accruals by 2030. In its recent market analysis, MRFR also asserts that the market would register around 10.74% CAGR throughout the review period (2022–2030).
Stem cells are used for treating Alzheimer’s disease by using stem cells in place of the diseased cells. This method has an excellent potential to halt or prevent different forms of neurodegenerative diseases. More than 5.7 million Americans were diagnosed with Alzheimer’s disease as reported by the Alzheimer’s Association in 2018. It is the increasing government funding and rising number of neurological diseases that has boost up the stem cell therapy market. But there are some factors however that may restrict the growth of the market during the forecast period. These include regulatory complications, lack of skilled labor exclusive procedures, cross contaminations and difficulty of collection as well as storage techniques of the somatic stem cells. The global stem cell therapy market is likely to touch at 10.3% CAGR during the forecast period.
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MAJOR PLAYERS
The leading players profiled in the report include Thermo Fisher Scientific Inc, AlloSource (US), RTI Surgical Inc (US), NuVasive Inc (US), JCR Pharmaceuticals Co. Ltd (Japan), HolostemTerapieAvanzateS.r.l. (Italy), Pharmicell Co., Ltd (South Korea), Anterogen Co., Ltd (South Korea), MEDIPOST Co., Ltd (South Korea), and Orisis Therapeutics, Inc. (US).
Market Segmentation
In MFRF’s report, the global stem cell therapy market is segmented on the basis of type, therapeutic application, cell source and end-user.
On the basis of type, it is segmented into autologous and allogeneic. The latter had the largest market share in 2016 for a couple of reasons such as growing commercialization of allogeneic products, its higher therapeutic applications and rising clinical trials associated to this therapy.
On the basis of therapeutic application, it is segmented into diabetes, immunodeficiency, cancer, metabolic disorders, hematopoietic disorders, treatment of eyes, wound healing, neurodegenerative disorders, bone regeneration, cardiovascular disease and medicine.
On the basis of cell source, it is segmented into iPSCs, cord/embryo blood-derived, neural, bone marrow and adipose tissue.
On the basis of end-user, the stem cell therapy market is segmented into stem cell banks, contract research organizations, research institutes, hospitals and biotechnology companies.
Stem Cell Therapy Market Regional Analysis
North America has the upper hand in the global stem cell therapy market. The largest market share attributes to notably increasing research and development activities led by the substantial investments in the field and rising numbers of biotechnology companies in the region. Indubitably, the rising prevalence of various chronic diseases is a major driving force behind the increasing R&D activities and investments.
Europe stands second in the global stem cell therapy market in terms of size and revenues. Factors such as the recent advancements in technology and their increasing adoption foster market growth. Additionally, the presence of a vast patient population for cancer alongside the rising healthcare expenditures facilitates the regional market growth.
The stem cell therapy market in the Asia Pacific region is brisk and emerging as one of the profitable markets, globally. Key factors such as the growing incidences of chronic diseases such as cancer, huge advancements in cancer treatments, and the developing healthcare infrastructure push the market up. Simultaneously, huge developments in stem cell therapy-related technologies led by the well-established biotech companies in India, China, and Japan influence the market in this region. Heading with the rising demand for technologically advanced therapeutics, the APAC stem cell therapy market is estimated to register a phenomenal CAGR throughout the assessment period.
Latest research in September, 2018 jointly led by University of Pennsylvania and Fourth Military Medicine University revealed that stem cells from baby teeth can be harvested which will have prospective dental uses to repair and regenerate tissues and regrow the adult teeth without the need for dentures or crowns.
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