Published on : Mar 16, 2017
ALBANY, NY, March 16, 2017: The report is titled, “Global Stem Cell Therapy Market 2017-2021.” The study examines the growth of the market followed over the last few years and the prospects of growth in the near future. The research report details out the causes accountable for the variations in the market and analyses them thoroughly. The impact of certain trends has also been discussed in the report. It further provides data on the market shares, strategies, and products of leading companies.
Stem cell therapy is the employment of stem cells for treating or preventing a disease or a condition. The most widely employed stem cell therapy is bone marrow transplant closely trailed by the therapies extracted from umbilical cord blood. Several researches are being undertaken for the development of several sources such as skin, bone marrow, and cord blood cells for stem cells and to use them for treating several disorders such as neurodegenerative diseases and ailments such as diabetes, heart disease, and other various conditions.
According to the report, the global stem cell therapy market is likely to expand at a CAGR over 36% during the forecast period. The key drivers of the market are the limitations in conventional organ transplantations. The rising concerns regarding organ transplantations have triggered the demand for products related to stem cell therapy. The risks associated with traditional organ donation include rejection, immunosupppression, and infection.
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Moreover, with the growing demand for organ transplantation, physicians and doctors are getting highly reliant on organ donors. In order to address these issues, researchers are now striving to explore ways in order to identify the applications of stem cell therapy in different types of transplants. For instance, pluripotent stem cells are an unlimited source of human cells, which derives maximum of the cells in the body. Furthermore, the graft rejection can be decreased with stem cells, as these grow using the similar individual cells. These benefits of organ transplantations are expected to boost the demand for stem cell therapy in the coming years.
In terms of application, the global stem cell therapy is segmented into cardiology, musculoskeletal, and dermatology. The segment of dermatology is expected to lead the market in the coming years owing to the growing use of stem cell therapy for treating damaged skin and chronic wounds. Stem cell therapy is also used to decrease the post-effects of treatments for burns such as poor adhesion, infection, and scarring.
Region-wise, the Americas are expected to dominate the market during the forecast period owing to the growing funding and initiatives being undertaken by the government and the rising research and development activities in the region. The leading companies in the market are Vericel, Osiris Therapeutics, Organogenesis, JCR Pharmaceuticals, and Holostem Advanced Therapies.
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