Report Details:
15 Companies Covered
200 Pages
Pune, India, June 2019, MRFR Press Release/- Market Research Future has Published a Half-Cooked Research Report on the Global Stem Cell Therapy Market.
Market overview
The worldwide stem cell therapy market is expected to attain an estimated CAGR of 10.3% over the forecast period. The application of stem cell for curing medical conditions is known as stem cell therapy.
The global stem cell therapy market is anticipated to rise due to the growing awareness for therapeutic application of stem cells in increasing research for stem cell therapy applications, disease management, advancement of genetic analysis techniques, boosting studies in identification of new stem cell lines, developments in stem cell banking infrastructure and increasing public-private fundings for stem cell research are factors influencing the global stem cell therapy market. Stem cell finds its applications in the cure of Alzheimer’s where affected cells are replaced by stem cells. The approach has huge potential in halting or preventing different neurodegenerative ailments like Alzheimer’s. A study by Alzheimer's Association in 2018, states that 5.7 million Americans got affected by the Alzheimer’s disease. Hence, increasing government investments and high rate of neurological diseases tend to surge the global stem cell therapy market.
However, storage techniques of somatic stem cells and their complex collection process increases the possibility of cross contaminations. Additionally, lack of skilled labor, costly procedures and administrative complications are expected to prohibit the market growth over the forecast period.
Segmentation
The global stem cell therapy market is segmented on the by cell source, end-user, therapeutic application and type.
Based on Cell source, the market is sub-segmented into bone marrow, embryo/cord blood-derived, adipose tissue, neural, and iPSCs.
By end-user, the market is segmented into research institutes & hospitals, biotechnology companies, stem cell banks, and contract research organizations.
By therapeutic application, the market is segmented into cardiovascular diseases, medicine, bone regeneration, wound healing, neurodegenerative disorders, hematopoietic disorders, treatment of eyes, metabolic disorders, immunodeficiency, diabetes, and cancer.
The stem cell therapy market, by type, is sub-segmented into Autologous and Allogeneic.
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Key Players
The key players in the worldwide stem cell therapy market are MEDIPOST Co., Ltd. (South Korea), Osiris Therapeutics, Inc. (US), Anterogen Co., Ltd. (South Korea), Holostem Terapie Avanzate S.r.l. (Italy), Pharmicell Co., Ltd. (South Korea), JCR Pharmaceuticals Co., Ltd. (Japan), RTI Surgical, Inc. (US), NuVasive, Inc. (US), Thermo Fisher Scientific, and AlloSource (US).
Regional Analysis
Based on region, the global stem cell therapy market is segmented into the Americas, Asia-Pacific, the Middle East and Africa and Europe.
The Americas market is sub-segmented into South America and North America. The North American market is further segmented into Canada and the US. The stem cell therapy market is ruled by North America due to the increasing chronic diseases in the region and burgeoning R&D investments. Also, the rapid adoption of technology for early diagnosis of ailments, drives the market in this region.
The Asia-Pacific market is sub-segmented into Japan, Australia, India, the Republic of Korea, China, and the rest of Asia-Pacific. Key drivers such as high prevalence of chronic ailments, growing patient pool, increasing research, improving healthcare infrastructure & development in the biotechnology sector encourages the market in this region. Additionally, the existence of key market players in India, Japan, and China, stimulates the market growth.
The Middle Eastern and African market is further segmented into the Saudi Arabia, United Arab Emirates, Oman, Qatar, Kuwait, and the rest of the Middle East and Africa. The presence of strict government policies and poor financial conditions poses MEA as a not-so-promising market. However, increasing awareness about health and funding by private market players in this region can accelerate the market growth.
The European market is segmented into Eastern Europe and Western Europe. Western Europe market is sub segmented further into Italy, Germany, the U.K., Spain, France, and the rest of Western Europe. Growing prevalence of chronic ailments like cancer is helping the expansion of the stem cell therapy market in Europe.