Published on : Mar 21, 2016
Stem cells refer to biological cells that can be differentiated further into specialized cells and can also be classified in order to produce more stem cells when required. In the recent years, stem cells studies have witnessed technological advancements, owing to which the global market for stem cell has been gaining traction across the globe. As a result, several treatments such as autoimmune diseases and growing tissues as per demand for an organ replacement will be turning into a reality in the next few years.
Some of the major application of stem cells are:
- Liver disorders
- Myocardial infarction
- Wound care
- Spinal cord injuries
The booming sector of medical tourism has encouraged the growth of stem cells therapy across the globe. In addition, the unmet medical requirements, increasing support from governments, and tremendously increasing stem cells banking services are some of the major factors that are anticipated to fuel the growth of the global stem cells market in the next few years. Moreover, the increasing disposable income in developing nations, growing contract research industry, replacing animal tissue in drug discovery and development, and increasing neurodegenerative disease patients are the other factors that are providing potential opportunities for the players of the stem cell market in order to expand their horizon and create a position across the globe.
On the other hand, the high cost of treatment and stringent government regulations against the unethical harvesting of stem cells are the key factors, which are projected to hamper the growth of the global stem cell market in the near future.
The global stem cells market is estimated to witness a high growth rate in the next few years, owing to which many players are expected to enter the global stem cells market so as to gain a competitive advantage in the overall market. The prominent players operating in the global market for stem cells include Celgene Corporation Inc., Angel Biotechnology, Cytori Therapeutics Inc., Bioheart, Brainstorm Cell Therapeutics, California Stem Cells Inc., Osiris Therapeutics, Cellartis AB, Advanced Cell Technology Inc., STEMCELL Technologies Inc., Cellular Engineering Technologies, and Biotime Inc.