Stem Cell Market Overview
The allogeneic stem cell therapy is expected to command the largest share of the market in 2018. In the field of life sciences, one of the most promising markets at the moment is the Global Stem Cell Market and is expected to grow exponentially in the coming years as stem cells allow cost-effective treatment of many illnesses that currently have no or ineffective treatment.
Some of the key drivers of stem cell market are improved funding from various government and private organizations for research and development for unmet medical needs, growing industry attention on stem cell research, and increasing global awareness about stem cell therapies. Development of cutting-edge genomic techniques for stem cell analysis and increasing approvals for clinical trials of stem cell therapy are other factors that are propelling the growth of the stem cells market. While on the other hand, ethical issues are involved in the stem cells research and strict regulations to conduct trials on humans are some of the restraining factors. Also, factors such as lack of required infrastructure and complications associated with the preservation of stem cell are limiting the growth of the stem cells market.
Stem Cell Market Forecast Report (2018-2023)
Global Stem Cell Market was worth USD 14380 million in 2018 and estimated to reach USD 25820 million by the end of 2023 with a CAGR of 12.42%.
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Stem Cell Market Segmentation
The stem cell market is segmented based on the treatment mode, cell types, applications, and technology. Treatment mode is segmented into allogeneic and autologous stem cell therapy. The cells type segment contains adult stem cells, induced pluripotent stem cells, human embryonic stem cells, and others. In the global stem cells market, the adult stem cells hold the highest share, while the market share of induced pluripotent stem cells is likely to grow in the next few years. The technology segment is divided into cell acquisition, cell production, cryopreservation and other sub-segments.
On the basis of geography, the global market is analyzed under various regions namely North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa. As of now, North America region dominates the global stem cells market. Europe comes next. However, the Asia-Pacific stem cell therapy market is expected to grow the fastest in this forecast period, mainly because of better regulatory support through encouraging government policies and increasing awareness among the public.
The major companies dominating this market for its products and services are
- GE Healthcare,
- Repligen Corporation,
- Tosoh Bioscience,
- Thermo Fisher Scientific,
- EMD Millipore and Expedeon Ltd.
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