The vast benefits offered by stem cell therapy are changing the market’s landscape greatly. Market reports associated to the healthcare industry have been made accessible by Market Research Future which creates reports on other industry verticals that outlines the current market scenarios. The stem cell therapy market is anticipated to progress at a CAGR of 10.74% over the forecast period 2020 to 2027.
The proven benefits of stem cell therapy are increasing their growth potential tremendously. The market’s expansion is considerably boosted by the growing awareness of stem cell therapy. Increasing collection of stem cells has increased the range of options for the direction of the market’s expansion. Moreover, the surge in public and private investments for stem cell research and increasing research in the identification of new stem cell lines has laid out a positive growth path for the market in the coming years.
Segmental Analysis
The stem cell therapy market is segmented on the basis of type, cell source, therapeutic application, and end-user. On the basis of type, the market is segmented into allogeneic and autologous. The segmentation on the basis of therapeutic application comprises of medicine, bone regeneration, neurodegenerative disorders, cardiovascular diseases, treatment of eyes, cancer, wound healing, hematopoietic disorders, immunodeficiency, metabolic disorders, and diabetes. The cell source segment is further segmented into bone marrow, adipose tissue, embryo/cord blood-derived, neural and iPSCs. The end user segment of the market consists of hospitals & research institutes, biotechnology companies, contract research organizations, and stem cell banks.
Detailed Regional Analysis
The North American region controls the stem cell therapy market due to the increasing prevalence of chronic diseases and elevated R&D investments within this region. The increasing adoption of technologically innovative systems for early diagnosis of diseases is motivating the market development in this region. The European region is the next biggest stem cell therapy market globally. The rising occurrence of chronic diseases such as cancer is propelling the growth of this market.
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Furthermore, the quickly increasing biotechnology sector is expected to lift the market in this region. The Asia Pacific region is anticipated to be the swiftest growing region for stem cell therapy market. Major factors such as increasing patient pool, commonness of chronic diseases, emerging healthcare infrastructure and growing research & development activities in the biotechnology sector is projected to influence the market in this region. Similarly, the incidence of core market players in India, China, and Japan is driving the market development. The Middle East and African region holds the smallest share in the stem cell therapy market owing to the existence of stringent government policies and weak economies. However, the rising awareness among the population and prominent investments by private market players in this region that can boost the market development.
Competitive Analysis
The market is at an optimally productive level and will be capable of generating greater value for the firms in the market and its shareholders. Although, the market has also considerably neutralized the market advantages and thus is promoting an increase in the number of firms in the market. The diversification of the product assortment in the market is increasing the opportunity for the progress of the market. The management tendencies in the market are highlighting the level of growth that can be achieved in the present market scenario. The development patterns are reviewed in tandem to the customer likings to realize the greatest growth, and in the long run, viability. The ability to utilize the economies of scale is further proving to be beneficial for comprehensive market growth.
The notable market players in the market are Anterogen Co., Ltd. (South Korea), Pharmicell Co., Ltd. (South Korea), MEDIPOST Co., Ltd. (South Korea), Osiris Therapeutics, Inc. (US), JCR Pharmaceuticals Co., Ltd. (Japan), RTI Surgical, Inc. (US), AlloSource (US), Holostem Terapie Avanzate S.r.l. (Italy), NuVasive, Inc. (US), Thermo Fisher Scientific.
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