The global human embryonic stem cell market is anticipated to gain lucrative growth over the forecast period owing to rising incidences of genetic, blood and immunity associated disorders. Increasing geriatric population base is also a high impact rendering driver of this market. Moreover, rising preference by physicians owing to overcoming limitations in current therapies including tissue damage and frequent disease relapse cases are also expected to propel the growth of this market over the next seven years. Furthermore, technological advancements and rising usage in various medical applications such as cellular transplantation therapy and developmental biology are expected to boost demand for human embryonic stem cell in near future.
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The global human embryonic stem cell market is segregated on the basis of application into tissue engineering, toxicology testing, regenerative medicine and stem cell biology research. As of 2014, stem cell biology research held the largest share of the market as a consequence of increasing need of early screening and treatment of genetic disorders. Tissue engineering is anticipated to be the fastest growing segment owing to associated benefits including high cost efficiency and increased stability of the repaired tissues thereby driving the demand for market over the forecast period.
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North America held the largest market share in 2014, owing to contributing factors such as rising incidences of genetic, cardiac and neurological disorders. Rising geriatric population base, increased awareness, high disposable income and availability of sophisticated healthcare infrastructure are also a high impact rendering drivers for this region. Asia Pacific is anticipated to be the fastest growing region over the forecast period as a consequence of increasing investments and awareness pertaining to new therapies for chronic diseases. Moreover, increasing contract research outsourcing and rising disposable income are anticipated to propel growth potential for this region over the forecast period.
The major market players include Vitrolife AB, Celgene Corporation Inc., Biotime Inc., Geron, Brainstorm Cell Therapeutics, Osiris Therapeutics, California Stem Cell Inc., NovoCell, Cell Dynamics International, Cellartis AB and Angel Biotechnology. These companies employ strategies including collaborations, geographic diversification and extensive clinical trials in order to capitalize their market share. Moreover, promoting medical tourism and reducing marketing expenditure are expected to expand their market share over the forecast period. For instance, development of innovative products such as disposable cell culture devices, tridimensional bioreactors and nanosensors are expected to boost the demand for the market. These advancements result in facilitating longer preservation of stem cells and real time monitoring of cells that are anticipated to drive the demand for the market over the forecast period.
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