Global Stem Cells Market: Snapshot
In order to come up with stem cell based therapies, most companies operating in the global stem cells market are trying to raise funds from overseas organizations. They are also working out collaborations and partnerships with pharmaceutical organizations in order to bolster their positions.
Besides such efforts to expand their portfolios and presence, which are proving beneficial to the globalstem cells market, the rising instances of chronic conditions and increasing investments by pharmaceutical and biopharmaceutical companies for stem cell research are also having a positive impact on the market. The rising number of stem cell donors, superior quality stem cell banking facilities, and increasing research and development are other factors that are serving to underpin the growth in the global stem cells market.
Buoyed by the above factors, the global market for stem cells is expected to register a robust CAGR of 13.8% during the period from 2017 to 2025, predicts a report by Transparency Market Research. At this rate, the market will likely attain a value of US$270.5 bn by 2025, as per the report.
Ability to Overcome Ethical Challenges Makes Induced Pluripotent Stem Cells Most Promising Segment
Depending upon the type of products, the global stem cell market can be divided into adult stem cells, human embryonic stem cells, induced pluripotent stem cells, etc. The segment of adult stem cells, among them, holds a leading share in the market. This is because of their ability to multiply into trillions of specialized cells which may lower the risks of rejection and repair tissue damage. As per UCB, a global biopharmaceutical company, Canada is home to over 100,000 people with Parkinson’s disease and about another 6,600 new cases are diagnosed annually in the nation.
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The human embryonic stem cell segment trails the segment of adult stem cells vis-à-vis market share in revenue. The induced pluripotent stem cells segment again is an emerging segment that holds out a lot of potential. Induced pluripotent stem cells, which can be created from the tissue of the patient needing the transplantation, helps avoid the problem of immune rejection. Besides, it also tackles ethical challenges as the cells are harvested from a willing adult without harming them. These are the key driving factors for the market growth of the segment.
Investments in Stem Cells Research Propels North America Market to Fore
Geography-wise, the key segments of the global stem cells market are North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. At present, North America dominates the market because of the substantial investments in the field, impressive economic growth, rising instances of target chronic diseases, and technological progress. The market in North America will likely retain its dominant share in the near future to become worth US$167.33 bn by 2025.
Europe comes in the second position after North America in the global stem cells market. Germany, in Europe, is said to be powering the region’s growth as patients from other countries in Europe as well as the U.S. and Canada travel to Germany to receive medical treatments at reasonable costs. By 2025, the region is slated to rake in a revenue of US$67.47 bn. Vis-à-vis growth, on the other hand, Asia Pacific stem cells market is expected to run the show by clocking a 14.6% CAGR from 2017 to 2025.
STEMCELL Technologies Inc., Astellas Pharma Inc., Cellular Engineering Technologies Inc., BioTime Inc., Takara Bio Inc., U.S. Stem Cell, Inc., BrainStorm Cell Therapeutics Inc., Cytori Therapeutics, Inc., Osiris Therapeutics, Inc., and Caladrius Biosciences, Inc. are to name a few of the prominent players in the region.