Stem cell therapy is a kind of procedure used for treating or preventing a disease from spreading further into the body. It is the fastest-growing as well as the largest segment under regenerative medicine. Stem cells have the capability to grow new cells, replicate themselves, or replace damaged cells in the body. Moreover, stem cell therapies are also used for treating various chronic diseases like cancer and other blood disorders, thereby boosting the growth of the market for stem cell therapy.
Browse 60 market data tables and 37 figures spread through 120 pages and in-depth TOC on “Stem Cell Therapy Market”.
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Factors such as the growing awareness related to the therapeutic potency of stem cells in disease management, ongoing development of advanced genome-based cell analysis techniques, increasing public-private investments for stem cell research and product development, identification of new stem cell lines, and developments in infrastructure for stem cell banking and processing are driving the growth of the global stem cell therapy market. However, factors such as unclear regulatory guidelines related to the development & commercialization of stem cell therapy products and socio-ethical issues related to the adoption of ESCs in disease treatment are restraining the growth of the stem cell therapy market. In addition to this, technical limitations related to production scale-up pose a key challenge for players operating in the stem cell therapy market.
Market Drivers
The major factors influencing the growth of the global stem cell therapy market are:
- Increased focus on stem cell research
- Increased funding from government and private organizations
- Growing awareness about stem cell therapies
Moreover, advancements in genomic methods for the analysis of stem cells, increased support and funding for new stem cell lines, and rise in the number of approvals of clinical research for stem cell therapy is further stimulating the growth of this market.
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However, lack of suitable infrastructure in developing nations, issues related to embryonic stem cells and preservation of stem cells, inadequate reimbursement scenarios, and higher costs of stem cell processing are some of the factors hampering the growth of this market.
As of 2015, Osiris Therapeutics, Inc. (U.S.), MEDIPOST Co., Ltd. (South Korea), Anterogen Co., Ltd. (South Korea), Pharmicell Co., Ltd. (South Korea), Holostem Terapie Avanzate S.r.l. (Italy), JCR Pharmaceuticals Co., Ltd. (Japan), NuVasive, Inc. (U.S.), RTI Surgical, Inc. (U.S.), and AlloSource (U.S.) are some of the key players operating in the global stem cell therapy market.
