The U.S. currently holds a 60% share of the global stem cell market; and forms an especially lucrative market for areas such as bone marrow transplantation through stem cells
The global stem cells market is estimated to reach $88.3 billion at a CAGR of 14.8 %, driven by the increasing demand of stem cell therapy in the field of regenerative medicine. The markets for stem cell products, technology and services are expected to grow at a CAGR of 13.9 %, 12.3 % and 16.1 % respectively. In addition to regenerative medicine, stem cells have applications in the field of drug discovery and development in cell based assays for ADME and toxicity studies. The enormous potential of stem cells in the treatment of chronic and several incurable diseases is boosting the overall stem cells therapy market.
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The recent reversal of 2001 ban on human embryonic stem cells research by US President Barack Obama has enabled immense market growth in US, inviting investments in this area. Meanwhile, Asian countries such as Singapore, China and Japan have developed robust infrastructure, taking advantage of the ban on human embryonic stem cells research due to religious and political issues in US and Europe. Increasing public support is pushing the market further.
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Adult stem cells form the chief share of the market as they are the only cells presently that are marketable as a therapy. Moreover, availability of safety and efficacy data is also significant in making it a major profit making component in the market. Animal and human embryonic stem cells are in clinical trials for their applications in chronic diseases.
Stem cell have vast potential in disease areas such as cardiovascular, neurological, diabetes, Parkinson’s and Alzheimer’s with various clinical trials underway in the mentioned focus areas. The use of stem cells as a drug discovery tool is a new development in this area which is driving the market with pharmaceutical giants such as Pfizer and Roche now adopting it. Market players are now focusing on new product and service development to enhance their commercial portfolios. Strategic collaborations among companies are also a common trend in the industry.
The stem cell market is growing rapidly due to increasing regulatory approval and public acceptance bodies. The benefits of stem cell therapy are attracting an increasing number of patients. The product submarket for human and embryo stem cells are expected to drive the growth of the overall market. In addition, intensive R&D efforts and the increasing investments into research on stem cells therapy are soon expected to improve the efficacy of stem cell treatment. However, the high cost of the therapy may affect market growth.
The agenda for the briefing includes discussion on key high growth market, marking the growth trend in the product, technology, services and applications of stem cells. Furthermore, a briefing will be conducted on the competitive scenario and geographic opportunities for the same topic. It analyzes the major opportunities for the global stem cells market; and also evaluates the major trends in the macro- and micro-markets with respect to different geographic regions.
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