The major cause behind blindness, kidney failure, lower limb amputation and heart attacks is diabetes. By 2030, Diabetes is believed to be the 7th leading cause of Death~ World Health Organization (WHO)
“Global Stem Cell & Regenerative Medicine Market Outlook: Industry Demand Analysis & Opportunity Assessment 2016–2024”
With growing cases of chronic diseases and diabetes, people are getting more aware of stem cell and regenerative medicine around the globe. The applications of stem cells in regenerative medicine and disease therapies are resulting in decreased dependence on conventional therapies which are relatively less efficient and impose a financial burden on the patients. Moreover, increased spending by government and private companies on pharmaceuticals and stem cell research activities for clinical applications is predicted to uplift the demand for stem cell and regenerative medicine in upcoming years. Further, the global stem cell and regenerative medicine market is predicted to reach USD 14,745.7 Million in 2024 from USD 10,200.0 Million in 2016, by witnessing a compound annual growth rate of 4.8% during 2017-2024.
The Global Stem Cell and Regenerative Medicine Market is segmented into product type, application type, technology, therapy and end-user. The product type is further segmented into adult stem cells, human embryonic stem cells, induced pluripotent stem cells and very small embryonic like stem cells, out of which, the wide scale applications of adult stem cells in the cell regeneration of various diseases has driven the adult stem cells segment with largest market share of 82.9% in 2016. Further, the adult stem cells segment is predicted to occupy the largest market of stem cell and regenerative medicine during the forecast period.
Increasing Awareness Regarding Chronic Diseases to Boost the Healthcare Industry in Future
The global stem cell & regenerative medicine market is thriving on the back of prevalence of degenerative diseases such as cardiovascular diseases, cancer and other chronic diseases.
Growing Geriatric Population – The growing cases of diabetic diseases among geriatric population is likely to propel the demand for stem cell and regenerative medicine in upcoming years.
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Increasing Research & Development Expenditure – There is an increase in research funding that is being provided by various government agencies such as department of health along with other private companies. Stem Cell research supportive funding has increased by 24% in 2017 as compared to 2013.
Growing Medical Tourism – Many patients are travelling across the globe to obtain affordable or specialized medical treatment.
Industry Players’ are Progressing towards Minimizing the Barriers faced by the Global Stem Cell & Regenerative Medicine Market
According to Research Nester, the lack of awareness and high cost related to stem cell and regenerative medicine is envisioned to hinder the growth of the stem cell & regenerative medicine market across the globe.
High Cost of Treatment – Factors such as hi-tech labs require huge investment and appropriate infrastructure for the development of stem cell and regenerative medicine.
Strict Approval Norms – The limitations of few stem cell therapies such as cord blood and lack of infrastructure for collection of cord bloods are the major obstacles faced by the stem cell and regenerative medicine market.
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The report titled “Global Stem Cell & Regenerative Medicine Market Outlook: Industry Demand Analysis & Opportunity Assessment 2016–2024” delivers detailed overview of the global stem cell & regenerative medicine market in terms of market segmentation by product type, application, technology, therapy, end-user and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global stem cell & regenerative medicine market which includes company profiling of Sangamo Therapeutics, Pluristem Therapeutics, BIOTIME Inc., Takara Bio Inc., Cellular Engineering Technologies Inc., Thermo Fisher Scientific Inc., Athersys Inc., Osiris Therapeutics Inc., STEMCELL Technologies Inc. and AMAG Pharmaceuticals Inc.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global stem cell & regenerative medicine market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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