Global Stem Cell Therapeutics Market - Segmented by Product, by Therapeutic Applications, by Treatment Types, and Technology, By Type of Banking - Growth, Trends and Forecasts (2018 - 2023)
The Behavioral Rehabilitation Market is expected to witness a CAGR of 13.7% during the forecast period. North America dominates the global market due to the high incidence diseases such as cancer and diabetes which can now be cured by stem cell therapies.
Increased Awareness about Umbilical Stem Cells
Currently, there is an increase in the number of clinical trials for testing future treatment possibilities of cord blood. Over 200 National Institutes of Health (NIH) funded clinical trials with cord blood are currently being conducted in the United States alone. The potential implications of the results are a cause of hope among scientists and healthcare providers. In the United Kingdom, a petition has been submitted to increase the awareness of umbilical cord cells. In United States, CordBloodAwareness.org was created out of a need to increase awareness about the life-saving power of umbilical cord blood stem cells. Thus increasing awareness about umbilical stem cells.
Additionally, increase in the patient population, increase in the approval for clinical trials in stem cell research, growing demand as regenerative treatment option and rising R&D initiatives to develop therapeutic options for chronic disease are also fuelling Stem Cell Therapeutics Market globally.
Ethical and Moral Framework
Stem cells are often viewed as a hope as an alternative form of therapies. However, there has been a strong debate over the use of stem cells in the development of novel therapies. It is a matter of high priority on the political and ethical agenda of many countries. As much as there is a great scope on the therapeutic front, there is an equally strong opposing force on the ethical front. For example, embryonic stem cell research is a morally complex scenario. There are different viewpoints on this issue. Embryos are considered as a Person or as a potential Person. This is one side of the moral issue which is being catered to which is restraining the growth of stem cell therapeutics market.
Additionally, expensive procedures and regulatory complications are also hindering the growth of Stem Cell Therapeutics Market.
North America is dominating the market
One of the largest driving factors for the stem cell market in the US is the high purchasing power of the citizens in the country. There is an increasing incidence diseases such as cancer and diabetes which can now be cures by stem cell therapies. There is also increased awareness about the available stem cell procedures and therapies among people which in turn increases the demand for this market. Thus North America dominates Stem Cell therapeutics Market.
Key Developments in the Market
February 2018: Astellas Acquires Universal Cells, Inc. to create cell therapy products.
January 2018: Astellas Completes Acquisition of Mitobridge, Inc.
Major Players: VERICEL CORPORATION, ASTELLAS PHARMA, ATHERSYS, FATE THERAPEUTICS INC., CYTORI THERAPEUTICS, INC., GERON CORPORATION, THERMO FISHER SCIENTIFIC, PLURISTEM THERAPEUTICS INC., VIACYTE, INC., OSIRIS THERAPEUTICS, INC. and CAPRICOR THERAPEUTICS INC. are amongst others.
Reasons to Purchase this Report
Current and future stem cell therapeutics market outlook in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
The segment that is expected to dominate the market
Regions that are expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares and strategies employed by the major market players.
3 months analyst support along with the Market Estimate sheet in excel.
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