Stem Cell Market to Grow 40% by 2020Angie Godinez
Regenerative medicines have the capability to grow new cells and replace damaged and dead cells. Stem cell is the precursors of all cells in the human body. It has the ability to replicate itself and repair and replace other damaged tissues in the human body. In addition, stem cell based therapies are used in the treatment of several chronic diseases such as cancer and blood disorders.
Also, the global stem cell therapy market is segmented into eye diseases, metabolic diseases, GIT diseases, musculoskeletal disorders, immune system diseases, CNS diseases, CVS diseases, wounds and injuries, and others.
The global stem cell therapy market on the basis of the mode of treatment is segmented into allogeneic and autologous stem cell therapy. The allogeneic stem cell therapy is expected to command the largest share of the market in 2015, and the allogeneic stem cell therapy segment is expected to grow at the highest CAGR of 40% in the forecast period (2015-2020).
The market is poised to grow at a CAGR of 39.5% from 2015 to 2020, to reach $330 million by 2020. The South American stem cell therapy market is expected to grow at the highest CAGR in the forecast period, owing to factors such as increasing regulatory support through favorable government policies, strong product pipelines, and increasing licensing activities in this region.
Stem cell research is sponsored by the different organizations all around the world, and increasing global awareness about stem cell therapies through various organizations are stimulating the research activities for stem cell therapies. Developing markets, the emergence of induced pluripotent stem (iPS) cells as an alternative to embryonic stem cells (ESCs), and evolution of new stem cell therapies represent high growth opportunities for market players.