Global Stem Cell Market is expected to reach USD 15.63billion by 2025, growing at a CAGR of 9.2%, according to a new report by Hexa Reports. Augmentation in research studies that aim at broadening the utility scope of associated products is anticipated to drive the market growth. These research projects have opened the possibility of implementation of several clinical applications of these cells, thereby impacting disease-modifying treatments.
Scientists are engaged in discovering novel methods to create human stem cells. This is to address the increasing demand for stem cell production for potential investigation in disease management. This factor is certainly expected to accelerate the development of regenerative medicine, thus driving industrial growth.
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Moreover, cellular therapies are recognized as the next major advancements in transforming healthcare. Firms are expanding their cellular therapy portfolio, understanding the future potential of this arena in the treatment of Parkinson’s disease, type 1 diabetes, spinal cord injury, Alzheimer’s disease, and others.
In March 2016, Scientists at Michigan State University unveiled new kind of cells “induced XEN cells” from a cellular trash pile. This discovery is expected to drive advancements in regenerative medicine. Such discoveries are anticipated to bolster research and sales in this market over the forecast period.
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Further key findings from the report suggest:
- Adult stem cells dominated the market and is expected to maintain its dominance. This can be attributed to the several factors such as lower rejection rates, long term renewal property, and no ethical concerns associated with their usage
- Application wise regenerative medicine is estimated to hold the substantial share of the revenue
- Presence of significant number pipeline projects for regenerative medicine is expected to fuel growth in the market
- In addition, exploding research projects have driven the need of harvesting techniques, thereby propelling progress of acquisition technology
- Increased R&D activities and huge funds granted by funding bodies to advance cellular research in the U.S. have resulted into the large share of North America
- Extensive research carried out in Singapore and Japan is anticipated to drive progress with lucrative avenues
- Advanced Cell Technology Inc, Osiris Therapeutics Inc, Celgene Corporation, BIOTIME, INC., Cynata, and STEMCELL Technologies Inc., are some of the major companies operating in this market
- A number of companies are engaged in seeking investment from overseas organizations and also developing partnerships with the pharmaceutical organizations
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