DUBLIN–(BUSINESS WIRE)–The “Stem
Cell Market – Growth, Trends, and Forecast (2019 – 2024)”
report has been added to ResearchAndMarkets.com’s
offering.
The Stem Cell Market is expected to register a CAGR of nearly 10.04%
during the forecast period, 2019-2024.
The stem cell market is experiencing growth, owing to the increasing
number of clinical trials around the world. North America, especially
the United States, dominated the number of trials undergoing in stem
cell therapies.
The United States dominates the market in both the products and banking
services segments, holding around 77.4% of the total North American
market. However, Asia-Pacific is growing at the highest growth rate.
Stem cells are majorly used in regenerative medicine, especially in the
field of dermatology. However, oncology is expected to grow at the
highest growth rate, due to a large number of pipeline products present
for the treatment of tumors or cancers. With the increase in the number
of regenerative medicine centers, the stem cell market is also expected
to increase in the future.
Stem cells banking is gaining importance with the support of government
initiatives. The number of stem cell banks is increasing in developing
countries, which is aiding the growth of the market. Also, increasing
awareness about stem cell storage among the people has positively
affected the market. Currently, the market is not well established in
many therapeutic areas and has shown nascent success in history.
However, it holds great potential in both the diagnosis and therapeutic
fields.
Key Market Trends
Oncology Disorders Segment is Expected to Exhibit Fastest Growth
Rate Over the Forecast Period
Cancer has a major impact on society in the United States and across the
world. As per the estimation of National Cancer Institute, in 2018,
1,735,350 new cases of cancer were anticipated to get diagnosed in the
United States, and 609,640 deaths were expected from the disease. This
increasing medical burden is due to population growth. Bone marrow
transplant or stem cell transplant is a treatment for some types of
cancers, like leukemia, multiple myeloma, multiple myeloma,
neuroblastoma, or some types of lymphoma.
Embryonic stem cells (ESC) are the major source of stem cells for
therapeutic purposes, due to their higher totipotency and indefinite
lifespan, as compared to adult stem cells with lower totipotency and
restricted lifespan. However, the use of ESCs for research and
therapeutic purposes is restricted and prohibited in many countries
throughout the world, due to some ethical constraints.
Scientists from the University of California, Irvine, created the stem
cell-based approach to kill cancerous tissue while preventing some toxic
side effects of chemotherapy by treating the disease in a more localized
way.
Although the market shows positive growth, due to the growing focus of
stem cell-based research that can further strengthen the clinical
application, its expensive nature for stem cell therapy may still hamper
its growth.
North America Captured The Largest Market Share and is Expected to
Retain its Dominance
North America dominated the overall stem cell market with the United
States contributing to the largest share in the market. In 2014, the
Sanford Stem Cell Clinical Center at the University of California, San
Diego (UCSD) Health System, announced the launch of a clinical trial, in
order to assess the safety of neural stem cell-based therapy in patients
with chronic spinal cord injury.
Researchers hoped that the transplanted stem cells may develop into new
neurons that could replace severed or lost nerve connections, and
restore at least some motor and sensory functions. Such numerous stem
cell studies across the United States have helped in the growth of the
stem cell market.
Competitive Landscape
The stem cell market is highly competitive and consists of several major
players. In terms of market share, few of the major players currently
dominate the market.
The presence of major market players, such as Thermo Fisher Scientific,
Qiagen NV, Sigma Aldrich (A Subsidiary of Merck KGaA), Becton, Dickinson
and Company, and Stem Cell Technologies, is in turn, increasing the
overall competitive rivalry in the market. The product advancements and
improvement in stem cell technology by the major players are increasing
the competitive rivalry.
Key Topics Covered
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increased Awareness about Umbilical Stem Cell
4.2.2 Increase in the Approval for Clinical Trials in Stem Cell Research
4.2.3 Growing Demand for Regenerative Treatment Option
4.2.4 Rising R&D Initiatives to Develop Therapeutic Options for Chronic
Diseases
4.3 Market Restraints
4.3.1 Expensive Procedures
4.3.2 Regulatory Complications
4.3.3 Ethical and Moral Framework
4.4 Industry Attractiveness – Porter’s Five Forces Analysis
5 MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Adult Stem Cell
5.1.2 Human Embryonic Cell
5.1.3 Pluripotent Stem Cell
5.1.4 Other Product Types
5.2 By Therapeutic Application
5.2.1 Neurological Disorders
5.2.2 Orthopedic Treatments
5.2.3 Oncology Disorders
5.2.4 Diabetes
5.2.5 Injuries and Wounds
5.2.6 Cardiovascular Disorders
5.2.7 Other Therapeutic Applications
5.3 By Treatment Type
5.3.1 Allogeneic Stem Cell Therapy
5.3.2 Auto logic Stem Cell Therapy
5.3.3 Syngeneic Stem Cell Therapy
5.4 By Banking Service and Technology
5.4.1 Stem Cell Acquisition and Testing
5.4.2 Cell Production
5.4.3 Expansion
5.4.4 Sub-culture
5.4.5 Cryopreservation
5.5 By Type of Banking
5.5.1 Public
5.5.2 Private
5.6 Geography
5.6.1 North America
5.6.2 Europe
5.6.3 Asia-Pacific
5.6.4 Middle East & Africa
5.6.5 South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Osiris Therapeutics Inc.
6.1.2 Pluristem Therapeutics Inc.
6.1.3 Thermo Fisher Scientific
6.1.4 Qiagen N.V.
6.1.5 Sigma Aldrich Corporation
6.1.6 Becton, Dickinson and Company
6.1.7 Stem Cell Technologies Inc.
6.1.8 AllCells LLC
6.1.9 Miltenyi Biotec
6.1.10 International Stem Cell Corporation
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/research/ff7xtf/worldwide_stem?w=4
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Related
Topics: Stem
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