Factors that propel the global stem cell market are exhaustive R&D in therapeutic solutions and strong government support for drug discovery & related developments. Governmental support in the form of financial assistance helps fulfill a number of unmet healthcare needs. Rising cases of chronic diseases related to the liver, kidneys, and heart is another prominent factor that increases the popularity of stem cells technology. Stem cells refer to undifferentiated cells that have the capacity to regenerate and thus perform a number of functions. The growing importance of regenerative medical treatment is expected to drive the worldwide Market over the forecast period (2016 to 2024).
The four parameters based on which the global stem cell market is categorized are: products, technologies, applications, and geographies. Product-wise, the segments are human embryonic cell, pluripotent, and adult stem. Another term that defines pluripotent stem cells is “master” cells. These cells have the capacity to create cells from all three body layers. Hence, they can produce any tissue or cell that the body has to repair itself. They are self-perpetuating, that is they can develop several copies of themselves.
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Embryonic stem cells are derived from the undifferentiated inner mass of cells present in a human embryo. Adult or somatic stem cells are found throughout the body and help regenerate damaged or dying cells & tissues. Adult stem cells are by far the most extensively used ones, because the human body can easily accept these cells. Furthermore, the possibility of contamination is also quite low. This segment will continue dominating the global Stem Cell Market during the forecast period. It generated revenues exceeding USD 30 billion in 2013.
Based on technologies, the global industry is categorized into cryopreservation, cell production, expansion, and cell acquisition. The overall market was dominated by the cell acquisition segment in 2013. This is the technique of obtaining stem cells from their sources. Cell culture, cloning, and in-vitro fertilization are the different techniques of cell acquisition. Bone marrow harvesting too is an integral part of such a technique. Regenerative medicine, drug discovery, and drug development are the various application areas of the global market. Ongoing trends in medicine suggest that stem cell based treatments are gradually gaining much importance in the management of diseases, such as Huntington’s chorea and Parkinson’s disease.
Based on geographies, the global stem cell market is segmented into Europe, Asia Pacific, North America, and Rest of the World. In terms of revenue, North America holds the highest share in the overall market. The region may continue expanding robustly over the forecast period because of widespread adoption of cell based therapies and high R&D investments by the public & private sectors. Asia Pacific too may expand rapidly during the same time because of medical tourism, high disposable incomes, and surging CRO (Contract Research Organization) activities. Prominent companies that hold significant shares in the global industry are Angel Biotechnology; California Stem Cell Inc.; Bioheart; Brainstorm Cell Therapeutics; and Celgene Corporation Inc.
Stemcells Inc., a California based biopharmaceutical company focuses on the development of purified human neural stem cells (HuCNS-SCs). In November 2016, the company entered a joint collaboration with Microbot Medical Ltd., a medical device company that specializes in developing & designing transformational micro-robotic technologies. With the help of highly precise & less invasive surgical solutions, these technologies aim at bettering the quality of life of patients all across the globe.