Stem cells are undifferentiated cells which are capable of differentiating into any type of cell that make up the human body, and thus are capable of producing the cells which are non-regenerative in nature. The global stem cells market is primarily driven by considerable therapeutic research activities, development of medical tourism hubs, and growing stem cell banking services.
Stem Cells Market: Overview
The rising funding from numerous governments and private organizations globally and the rising inclination toward stem cell research are amongst the prime factors boosting the growth of the global stem cells market. The emergence of numerous stem cell therapies also represent huge development opportunities for the key players in the stem cells market. In addition, the increasing demand for regenerative treatment options globally will positively impact the growth of the overall market.
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The report makes use of various analysis tools such as SWOT analysis and Porter’s five forces analysis in order to present a comprehensive understanding of all the attributes related to the market. A thorough review of the market forces impeding and propelling the growth of the stem cells market also forms an integral part of this study. Furthermore, a vividly defined growth map of the market in terms of technological evolution is presented through this study.
This report presents a comprehensive overview of the global stem cells market as well as its related technologies. It also deploys an in-depth understanding of the strategies adopted by the players specializing within this field in order to meet the growing challenges of a fast-growing and competitive market. The strengths and weaknesses of these players have also been presented in this study.
Stem Cells Market: Drivers and Restraints
The global stem cells market is fuelled by the advancement of medical tourism industry and the increasing therapeutic research activities globally. In addition, the increasing stem cell banking services will positively impact the development of the overall market. Furthermore, the growing medical requirements of individuals in a number of nations will raise the demand for stem cells, hence boosting market development.
The increasing disposable income of individuals, particularly in emerging economies and the evolving contract research industry will bring in new opportunities in this market. In addition, the increasing count of patients having neurodegenerative diseases will also propel the demand for stem cells. Stems cells are also substituting animal tissues in drug delivery. This is another key growth opportunity in the market for stem cells.
However, the skyrocketing treatment costs involved in the usage of stem cells may impede the growth of the stem cells market. In addition, the increasing regulations imposed by governments in various nations globally on stem cells’ unethical harvesting may negatively impact the growth of the global stem cells market.
Stem Cells Market: Region-wise Outlook
In terms of geography, the stem cells market is categorized into Europe, Asia, North America, and Rest of the World (RoW). Of these, North America led the market in the past and was trailed by the region of Europe. The reason for the dominance of North America is that stem cells present therapeutic solutions for highly prevalent diseases in the U.S. such as neurological and cardiac disorders.
In addition, a number of grants given by organizations such as National Institute of Health (NIH), New York Stem Cell Science, and California Institute for Regenerative Medicine (CIRM) have encouraged research institutes to invest in the research activities for stem cells, thus bolstering market growth in North America.
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On the other hand, Asia is predicted to exhibit a double digit growth rate in the coming years due to the booming contract research outsourcing market and the constantly evolving medical tourism industry in this region.
Key players Mentioned in the Report are:
The leading players in the global stem cells market are STEMCELL Technologies Inc., Cellular Engineering Technologies, Biotime Inc., Celgene Corporation Inc., Bioheart, Brainstorm Cell Therapeutics, Osiris Therapeutics, Cellartis AB, Cytori Therapeutics Inc., California Stem Cells Inc., Advanced Cell Technology Inc., and Angel Biotechnology, amongst others.