According to the report Stem cells market, published by Market Data Forecast, the global market is projected to reach USD 24.9 billion by 2022, at a CAGR of 8.38% from 2017 to 2022. In the field of life sciences, one of the most promising markets at the moment is the stem cell market which 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. Regenerative
Hyderabad, India -- (SBWIRE) -- 12/21/2017 -- According to the report Stem cells market, published by Market Data Forecast, the global market is projected to reach USD 24.9 billion by 2022, at a CAGR of 8.38% from 2017 to 2022. In the field of life sciences, one of the most promising markets at the moment is the stem cell market which 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. Regenerative medicine is perhaps the most important use of stem cells, and other important areas include oncology, haematology, orthopaedics, cardiology and neurology. Another widely found application is drug discovery and development.
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Moreover, a lot of research has been going on in laboratories and clinics across the region for understanding these cells to cure the various conditions of cancer, ageing issues, cardiovascular conditions etc. The immense potential that these cells exhibit has increased investments from public and private organizations to increase focus in stem cell research and improve infrastructure for stem cell banking and processing.
Stem cell Market: Drivers & Restraints
The increasing availability of research funding from private and public channels, international collaborations in research and the rise in awareness about the stem cell therapies are the few factors driving the growth of the stem cell market.
However, lack of structured government policies for the employment of stem cells and the ethnic and moral codes in certain orthodox regions are hindering the growth of the stem cell market.
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Stem Cell Market: Segmentation
By Mode of treatment
- Regenerative Medicine
- Eye & Immune System Development
- Blood Disorders
- Cell Acquisition
- Cell Production
- Adult Stem Cells
- Human Embryonic Cells
- Pluripotent Stem Cell
- Natural Rosette Cell
- North America
o United States
o South Korea
- Latin America
o Rest of Latin America
- The Middle East & Africa
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Stem Cell Market: Regional Overview
North America region holds the largest share of the global stem cells market, which is immediately followed by Europe. While, the Asia-Pacific stem cell therapy market is expected to register the fastest growth rate in this forecast period, driven by the better regulatory support from the governments.
Further, the countries of the Greater Middle East (also referred to as GME), have been focusing on science and technology as a means to transition their economies from a fossil fuel based one towards a knowledge-based workforce. Iran, Qatar and Saudi Arabia have already started utilizing funds from fossil fuel resources to create opportunities in science and technology institutes and thereby fund stem cell research from within their borders itself.
Stem Cell Market: Key Players
Key players in the market include Athersys, StemCells Inc., Cryo-Cell International, Geron Corporation, Mesoblast Ltd., Aastrom Biosciences Inc., Celgene Corporation, Invitrogen and Cytori Therapeutics Inc.
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