According to a new market research study of ‘Stem Cell therapy Market to 2027 – Global Analysis and Forecasts by Type, Treatment, Application, and End User.’ The global stem cell therapy market is expected to reach US$ 5,129.66 Mn in 2027 from US$ 1,534.55 Mn in 2019. The market is estimated to grow with a CAGR of 16.7% from 2020-2027. The report provides trends prevailing in the global stem cell therapy market and the factors driving market along with those that act as hindrances.
Growing healthcare industry and increasing awareness about benefits offered by stem cell therapies in developing countries of Asia Pacific creates better opportunities for market players to expand their business. The huge patient population in emerging countries is generating demand for advanced therapeutic solutions to deal with exponentially accelerating chronic conditions.
Additionally, favorable regulatory policies and financial aids to bolster stem cell therapies are likely to drive the adoption of these advanced therapies during the forecast period. For instance, in 2012, China’s State Food and Drug Administration (SFDA) approved the direct commercial sale of the BioArchive System (BioArchive), which is developed by ThermoGenesis Corp. in China. BioArchive System is an automated processing and storage solution that is utilized in the management of stem cells.
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The global stem cell therapy market, based on applications, is segmented into musculoskeletal, dermatology, cardiology, drug discovery and development, and other applications. In 2019, the musculoskeletal segment accounted for the largest market share in the global stem cell therapy market. Additionally this segment is expected to grow at faster pace in the forecasted period as well. The growth of the segment is attributed to increasing prevalence of musculoskeletal conditions and growing geriatric population. For instance, according to the Global Burden of Disease (GBD) 2017, musculoskeletal conditions were the highest contributor to global disability.
Leading companies operating in the stem cell therapy market are Medipost, pharmicell Co., Ltd., Holostem Terapie Avanzate S.R.L., Mesoblast Ltd., U.S. Stem Cell, Inc., Biotime, Inc., RichSource, Caladrius, TiGenix NV (Takeda Pharmaceuticals), and Genea Biocells among others.
Stem cell research has been widely investigated globally to enhance human health in a medical setting. For this, creating public awareness about stem cell research is vital for realizing this potential. The stem cell’s main role is to replace dying cells and reconstruct damaged tissues. Based on the extensive stem cell research results, many scientists have claimed that the cells could probably generate cures and treatment for various diseases, including cancers, cardiovascular disease, and others.
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