Stem Cell Market Overview:
Humanity has lunged forward in the field of medical sciences by a huge margin. A riveting illustration of this is the theory of Stem Cells and its adoption into the Stem Cell therapy. Initial research by Ernest A McCulloch and James E Till at the University of Toronto, brought this very promising ally into the eyes of the world. Stem cells (Hematopoietic) are essentially discrete immature cells that have the unique ability emulate themselves into a functional type once they enter the human body under the right experimental conditions. They live in the bone marrow and live a short life being renewed frequently.
Stem cells can be the either embryonic, adult, umbilical or dental. The process of stem cell transplant occurs via 3 stages. Collection – where the stem cells are collected from the bone marrow of a healthy source, conditioning and processing – the stem cells are processed and concentrated as required and frozen until further needed, and reinfusion – where the cells are thawed and reinfused into the patient. This can be further used for either regenerative medicine or drug development. The most commonly known form of this therapy is the bone marrow transplant where the umbilical cord cells are used. It is touted to lower disease symptoms and help understand patient condition via other experimental tests. However, the process is not easy to establish owing to the difficulty in obtaining the right stem cell and processing them under stimulated conditions. Some also cause tumours eventually after the process is undergone. Because of the difficulty in sources to obtain functional stem cells, and because of its extensive usage in issues relating from strokes to male infertility, research is underway to develop more obtainable sources.
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Stem Cell Market Size:
Stem Cell Market was valued at USD XX million in 2018 and projected to reach USD XX million by 2023 growing at a CAGR of XX% during the forecast period 2018 to 2023.
Stem Cell Market Growth Factors, Drivers and Restraints:
The lack of awareness, lack of clear government regulations for the same and the extreme costs involved in the stem cell therapy and banking are few of the major challenges that this field is dealing with. Despite it all, the global stem cell industry is expected to grow a whopping 15% CAGR during the period 2018-2023 with North America taking the lead with a revenue of approximately 58k million dollars. Yet to bloom completely, India has been warming to the stem cell therapy concept. Owing to the liberal government regulations, several commercial and non-commercial organizations have attempted to invest into its intense R&D. Recently, Aishwarya Rai Bachchan’s endorsement and revelation of choosing to save the umbilical cord of their only daughter to fight any future medical conditions, by LifeCell, brought to light a sensitive issue and has caught the eyes of many big organizations.
Stem Cell Market Geographical Segmentation:
Geographically Stem Cell Market is segmented into North America, Europe, Asia Pacific, South America and Middle East and Africa with North America region dominates most part of the market.
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Stem Cell Market Key Players:
Some of the leading market players of Stem Cell Market are Astellas Pharma, Athersys, Cytori Therapeutics, Fate Therapeutics, Geron Corporation, Osiris Therapeutics, Pluristem Therapeutics, Thermo Fisher Scientific, Vericel Corporation and ViaCyte.
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