Stem cell research which is one of the most contemporary areas of biology has developed rapidly in the last couple of years. Increased funding in stem cell research by both government and private organizations is one of the main drivers in the stem cell therapy industry. Stem cells are used in various medical therapies such as bone marrow transplant. Currently research is underway to use stem cell therapy to prevent and treat diseases such as diabetes, cardiovascular diseases, cancer, and neurodegenerative diseases such as Alzheimer’s, Parkinson’s and ALS. With growing prevalence of these diseases, the market for stem cell therapy is expected to grow in the future. By 2020, the global stem cell therapy market is expected to reach a value of 330 million, growing at a compound annual growth rate of 39.5 percent from 2015 to 2020.
The development of induced pluripotent stem cells, increased research activities for stem cell research, and evolution of new stem cell therapies are some of the factors which are propelling the growth of the global stem cell therapy market. The global market for stem cell therapy can be segmented on the basis of therapeutic applications, treatment mode and geographical region. On the basis of mode of treatment, the market can be segmented as Allogeneic stem cell therapy and autologous stem cell therapy. On the basis of therapeutic applications, the global market for stem cell therapy is segmented into metabolic diseases, central nervous system diseases, immune system diseases, cardiovascular diseases, eye diseases, musculoskeletal disorders, gastrointestinal disorders, wounds and injuries, and other diseases. By geographical area, the market can be divided into North America, Asia-Pacific, Europe and rest of the world.
Although the market for stem cell therapies is growing steadily, there are a few challenges in the market. Difficulties related with preservation of stem cells, immunorejection after stem cell transplantation, complexities involved in identifying stem cells in adult tissues, and ethical issues related to embryonic stem cell are some of the restraints in the growth of the stem cell therapy market. Currently North America is the dominant nation in the stem cell therapy industry. This dominance of the North American market is primarily attributed to the accelerated approval for stem cell therapeutics by the FDA and development of advanced genomic methods for stem cell analysis. However, in the next five years, the market in Asia-Pacific region is poised to grow steadily. Key players in the global stem cell therapies market are Stemcells Inc., Cellular Dynamics International, Advanced Cell technologies Inc., Gamida Cell Ltd., Aastrom Biosciences Inc., Fibrocell Science Inc., and Cytori Therapeutics Inc.
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