The global stem cell market is forecast to grow at a CAGR of 9.0% to 10% during the forecast period 2019 to 2024.
Description: Stem cells are unspecialized cells that mature into specialized cells which produce different type of tissues in the human body. They are characterized by the capability to renew themselves through mitotic cell division and differentiating into a diverse range of sp ecialized cell types. They play a vital role in development, growth, maintenance, and repair of brain, bones, muscles, nerves, blood, skin, and other organs. Researchers are striving to create therapies that rebuild or replace damaged cells with tissues grown from stem cells and offer hope to people suffering from cancer, diabetes, cardiovascular disease, spinal-cord injuries, and many other disorders. Adult and embryonic stem cells may also offer scientists to develop valuable techniques of drug discovery and testing.
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Key Driving Factors of the global stem cells: The global stem cells market has gained sustainable growth owing to increasing investments from pharmaceutical companies intended for stem cell research. Snowballing incidence of chronic diseases is another driving factor augmenting the demand of stem cell market. In the future, the stem cell market growth is predicted to boost due to increasing research and development, high quality stem cell banking services, and growing stem cell donors. These studies are expected to help businesses in bringing possible qualitative and quantitative changes in product line. However, ethical apprehensions coupled with public perception in context to stem cell at different stages of research is projected to hinder the implementation of this therapy up to certain level.
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By geography: North America is expected to be the fastest-growing region during the prediction period. Factors such as increasing awareness regarding therapeutic potency of stem cells, growing number of clinical trials for stem cell-based products, and public-private funding & research grants are fuelling
the growth in North America. Moreover, rise in the number of research and development projects in Japan, Australia, and Singapore, is anticipated to drive progress in APAC region. In the meantime, regulatory changes in regenerative medicine in Japan has fascinated momentous interest in the market, especially due to augmented commercialization opportunities.
Some of the key participants in the stem cells market: Cytori Therapeutics, Inc., Mesoblast Ltd., Astellas Pharma Inc., STEMCELL Technologies Inc., Osiris Therapeutics Inc, Celgene Corporation, BioTime, Inc., Cynata Therapeutics Limited, Human Longevity Inc, Cellular Engineering Technologies Inc., U.S. Stem Cell, Inc. BrainStorm Cell Therapeutics Inc. Caladrius Biosciences, Inc., and Promethera Biosciences. New product launches and endorsements are the key growth strategies adopted by major players to reinforce their positions in the international market. Furthermore, strategies such as expansions, as well as partnerships and agreements were also implemented by numerous market players to expand their R&D competences and geographic presence in the global market.
Market Analysis: The report gives an overview of key market forces propelling and restraining market growth. Additionally, the report also highlights market entry strategies for various companies across the globe. The report intends to provide market intelligence that help decision makers take sound investment evaluation. The report helps to identifies and analyses the emerging trends along with major drivers, challenges and opportunities in the global stem cell market.
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