The Stem Cell market is witnessing a growth in product demand owing to various reasons, one of the key factors being the rising prevalence of various chronic diseases and the significant need for their drug discovery. Cell transplantation as a therapy for neurodegenerative disorders such as Diabetes type 1, Parkinson's disease, and Alzheimer's disease among others are already being explored. For instance, in January 2022, the first patient in Canada has been dosed in a Phase 1 clinical trial of DA01, a cell-based investigational therapy for advanced Parkinson’s disease by BlueRock Therapeutics.
Based on the preclinical effect in these diseases, the technique is now being applied to other neurodegenerative disorders, such as AD, amyotrophic lateral sclerosis, and Huntington’s disease. According to WHO, by 2020, the prevalence of the chronic disease is predicted to increase by 57%. As the prevalence of chronic disease increases, people opting for stem cell-based treatment will rise, thus driving the market growth. Therefore, the prevalence of various chronic diseases and their research activities involved in drug development, in turn, would lead to an increase in demand for Stem Cell therapies in the forecast period (2021-2026), which will drive the Stem Cell market growth.
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Another key factor responsible for the growth of the Stem Cell market is the increasing cases of genetic disorders. As genetic disorders occur due to anomalies of genetic origin, there has been a growing demand for stem cell therapies. Stem Cell therapy holds promise for treating a wide range of diseases, such as Cancer, Neonatal Encephalopathy, among others. For instance, on June 11, 2019, Mesoblast Limited announced it has expanded its partnership with JCR Pharmaceuticals Co. Ltd. in Japan for the use of mesenchymal stem cells (MSCs) in the treatment of newborns who lack sufficient blood supply and oxygen to the brain, a condition termed neonatal hypoxic-ischemic encephalopathy (HIE).
Hence, Stem Cell therapy-based biologics have a wide range of applications, from gene replacement to gene knockdown.
Furthermore, stem cell therapy offers a more sustainable treatment approach, thereby becoming one of the popular choices in the management of genetic diseases. This results in a large number of potential stem cell therapies being under clinical development. This indicates the plethora of potential therapies that may reach the market in the coming years. Hence, growing stem cell research activities is another key factor being responsible for further boosting the growth of the Stem Cell market during the forecast period.
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