Global Stem Cells Market: Snapshot
In the last few years, stem cells therapy has been gaining traction worldwide. A significant rise in the number of clinical application of stem cells and the advent of new treatments for chronic diseases are estimated to enhance the growth of the global stem cells market in the next few years. In addition to this, the rising investment by public as well as private organizations for research activities are likely to supplement the overall market growth in the near future.
Development of Infrastructure to Drive Global Stem Cells Market
As per the market report by Transparency Market Research, the global market for stem cells is projected to reach a value of US$270.5 bn by the end of 2025. The market is likely to exhibit a strong 13.80% CAGR between 2017 and 2025
The rapid development of the infrastructure that is required for the stem cell banking and processing, especially in developing economies is predicted to encourage the growth of the global stem cells market in the coming years. Moreover, the favorable regulation for stem cells is likely to support the market growth in the near future. In addition to this, the rise in the awareness among people about the therapeutic potency of stem cells in the management of the effective diseases, which is projected to encourage the growth of the market in the near future. On the flip side, the technical limitation and the unclear regulatory guidelines for the development of the product are estimated to restrict the market growth across the globe.
Rise in Consumer awareness to Propel Stem Cells Market
In terms of geography, North America led the global stem cells market in the last few years and is projected to retain its position in the next few years. The strong growth of North America can be attributed to the rising investments for research activities and the growing cases of target chronic diseases. In addition to this, the rise in the economy and the technological advancements are further predicted to support the market growth across North America in the next few years. Europe is expected to hold the second-leading position in the market, with a rising contribution from Germany. Furthermore, with the development of the infrastructure and the increasing disposable income among consumers are likely to encourage the growth of the stem cells market in Asia Pacific in the near future and register a healthy growth rate in the near future.
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The global market for stem cells is developing at a rapid rate from the last few years and is projected to witness a high level of competition in the near future. At present, the market is moderated fragmented in nature and is projected to witness an entry of several new players in the coming few years. The rising focus of the leading players on advertising and marketing and the ardent efforts being taken by them to create an awareness among people concerning the benefits of stem cells are likely to enhance the overall development of the market and help the players in market penetration in the coming years. The main players engaged in the stem cells market across the globe are BioTime Inc., Cytori Therapeutics, Inc., STEMCELL Technologies Inc., Astellas Pharma Inc., U.S. Stem Cell, Inc., Osiris Therapeutics, Inc., Takara Bio Inc., Caladrius Biosciences, Inc., Cellular Engineering Technologies Inc., and BrainStorm Cell Therapeutics Inc.