Latest released the research study by Market Research Future (MRFR) on Stem cell market trend, offers a detailed overview of the factors influencing the global business scope.
Global Stem Cell Therapy Market is likely to touch at 10.3% CAGR during the forecast period. 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.
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 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).
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.
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.
Based on region, the stem cell therapy market segmented into the Americas, Europe, Asia-Pacific and the Middle East and Africa. The Americas lead the market on account of factors such as growing healthcare expenditure and existence of heart diseases. After the Americas, Europe (Netherlands, France, Belgium and UK) grabs the second position. This can be attributed to factors such as the rising occurrence of osteoarthritis, cancer and stroke.
It is the Asia-Pacific which is the fastest growing region in this market and is likely to see further growth due to the increasing existence of smoking here. The Middle East & Africa (MEA) region holds a relatively smaller share of market due to lack of well-trained healthcare experts and low per capita income. However, both the increasing technology and oncology in the community and the hospital level are likely to positively influence the stem cell therapy market.
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