The global stem cells market size is expected to reach USD 170.15 billion by 2020, according to a new report by Grand View Research, Inc. The market is expected to grow because of increasing research and development to develop therapeutic solution for chronic diseases and the huge funding by the government for drug discovery and development to serve the large unmet medical needs.
The WHO statistics on Cancer (2012) concluded that it is the leading cause for global mortality and morbidity, with around 14 million new cancer cases and 8.2 million cancer related deaths which is estimated to reach 22 million in next two decades. Stem cells in combination with gene therapy along with DNA repair is anticipated to be used to treat many intractable diseases and is classified under orphan drugs.
The California’s Stem Cell Agency has spent around USD 1.4 billion for stem cell research and still has USD 872 million to provide for the same. In addition to this, in 2013 the National Institute of Health has funded around USD1.3 million stem cell researches.
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Adult stem cell leads the market due to low contamination during sub-culture and expansion, relatively low labor production and compatibility with the human body. Induced pluripotent stem cells are expected to report revenue of over USD 4.5 billion by 2020, on account of analogous nature of its origin.
Different types of technologies include cell acquisition, cryopreservation, cell production, expansion and sub-culture. For any technique in stem cell production, stem cell acquisition is the basic step; hence, this segment is likely to dominate the market with revenues estimated at USD 10.9 billion by 2020.
Application of stem cell in regenerative medicines is exponentially increasing and hence dominates the market as compared to its application in drug discovery and medicine. Geographical presence of stem cell market is in North America, Asia Pacific, Europe and rest of the world. North America held the largest industry share due to huge government funding and initiative for stem cell research and rise in the acceptance of stem cell therapies.
However, Asia-Pacific is expected to be the fastest growing segment with a CAGR of over 25.0% due to rising contract research outsourcing and medical tourism. Key industry contributors include Advanced Cell Technology Inc., CellartisAB, Cellular Engineering Technologies Inc., BioTime Inc. and International Stem Cell Corporation.
In March 2015, International Stem Cell Corporation received patent from Japan for it human cell bank production from pathogenically activated eggs. This is in alignment with the companies’ strategy to make its intellectual property position strong and also develop relationship with Japan. Moreover, in June 2015, Cellaris AB launched a new xeno free culture called Cellartis EF-CS
Factors such as government funding, key player engagement to update the techniques, collaboration with domestic players for country specific market entry are expected to boom the stem cell market.
Grand View Research has segmented the global stem cells market on the basis of product, application, technology and region:
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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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