The global stem cells market size is expected to showcase considerable growth by reaching USD 27.65 billion by 2028 while exhibiting a CAGR of 12.8% between 2021 and 2028. This information is published by Fortune Business Insights™ in its latest report, titled, “Stem Cells Market, 2021-2028.” The report further observes that the market stood at USD 10.56 billion in 2020. Factors such as the increasing prevalence of chronic ailments and the growing number of clinical trials are expected to favor the demand for the product globally. As per the stem cell portal, presently more than 5,000 clinical trials have been registered for the application of the product in drug development and regenerative medicines.
A List of Renowned Providers of Stem Cells Operating in This Market:
- Thermo Fisher Scientific (Massachusetts, U.S)
- Merck KGaA (Germany, Europe)
- Mesoblast Ltd (Melbourne, Australia)
- STEMCELL Technologies Inc. (Vancouver, Canada)
- Promethera Biosciences SA (Belgium, Europe)
- Cynata Therapeutics (Victoria, Australia)
- R&D Systems, Inc. (Minnesota, U.S)
- AMSBIO (Abingdon, United Kingdom)
- Other Prominent Players
 |
| Get Sample PDF Brochure |
What does the Report Include?
The global market for wind turbine operation and maintenance report
provides analysis of the market while focusing on key aspects such as
increasing investments by companies, platforms, key players, and technology.
Furthermore, the report offers qualitative and quantitative insights on market
trends, market competition, market status, competitive landscape, product
pricing, and highlights key industry developments. Additionally, the report
includes several direct and indirect factors that are likely to contribute to
the growth of the market between 2021 and 2028.
DRIVING FACTORS
Increasing Prevalence of Chronic Disease to
Augment Market Growth
According to
the World Health Organization (WHO), the prevalence of chronic disease
increased by over 57% in 2020 globally. Moreover, the alarming rate at which
the population is rising in emerging economies is expected to drive the demand
for advanced healthcare systems. According to the data by GLOBOCAN, the
prevalence of cancer among men was 19% higher compared to women in 2020. 222
per 100,000 men whereas 186 per 100,000 women suffered from the disease. The
increasing prevalence of chronic ailments is expected to propel the demand for
advanced therapies that aid in relieving and mitigating the risks associated
with the fatal diseases. This is anticipated to contribute to the global stem
cell market growth in the forthcoming years.
Read a Detailed Summary of This Report:
COVID-19 IMPACT-
Increasing Efficacy of Cell Therapy to Treat
COVID-19 Patients Leads Market Exhibiting 20.5% Growth in 2020
In April 2020, Infectious Disease Research Institute and Celularity, a
New Jersey-based company, announced the approval of a clinical trial application
by the U.S FDA. The application is meant for developing vegetative cell-based
therapy for COVID-19. The increasing deployment of the product in R&D
activities to develop effective treatment for the novel coronavirus favored the
growth of the market even in turbulent times that affected several economies.
Owing to this, the market registered a growth rate of 20.5% in 2020 and is
likely to grow positively in the forthcoming years.
REGIONAL INSIGHTS
North America to Remain Dominant; Increasing
Number of Clinical Trials to Aid Growth
Among all
the regions, North America is expected to remain at the forefront and hold the
largest global stem cell market share during the forecast period. This is
attributable to the increasing number of clinical trials by major companies
present in the region that will favor the market’s growth. For instance, in
January 2021, BlueRock Therapeutics, a subsidiary of Bayer AG, secured an
approval for its investigational new drug (IND) application for study in the
treatment of advanced Parkinson’s disease by the U.S. Food and Drug
Administration (FDA). North America stood at USD 5.66 billion in 2020.
On the other
hand, Europe is expected to hold the second position in the market backed by
the growing investment in R&D activities by the government and companies to
develop novel drugs and therapies between 2021 and 2028.
COMPETITIVE LANDSCAPE:
Significant Investments by Major Companies to
Brighten Their Market Prospects
The market is consolidated by the
presence of major companies that are focusing on investing in R&D
activities to ensure the development of
advanced and novel product therapies and drugs to cater to the growing demand
from the healthcare industry. In addition to this, other key players are
striving to maintain their presence by adopting strategies such as
collaboration, partnership, and merger and acquisition that will bode well for
the market growth.
AN INDUSTRY DEVELOPMENT:
August 2020
– Calidi Biotherapeutics announced that it has secured the U.S FDA approval for
its latest investigational new drug (IND) application that focuses on study of
cell therapy in treating pneumonia and COVID-19 patients.
No comments:
Post a Comment