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Autologous Cell Therapy Market is Predicted to Reach a Valuation of US$23.7 bn by 2024
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As per TMR, the global market for autologous cell therapy will cross US$23.7 bn by 2024. Between 2016 and 2024, this market is slated to expand at a CAGR of 21.9%. On the basis of type of source, the global autologous cell therapy market is led by the bone marrow segment. This market segment is anticipated to cross US$12.0 bn by the end of 2024. By end users, the autologous cell therapy market is led by the hospital segment through 2024 thanks to the stupendous increase in surgical procedures across hospitals. The ambulatory surgical centres segment is also expected to expand at a considerable pace in the coming years. This is because ambulatory surgical centres offer cost effective procedures, have reduced waiting time period before surgery, and offers high confidentiality and privacy of data.
In terms of geography, North America is leading in the market due to high investments in treatment facilities. Asia Pacific will witness a high paced growth rate in the coming years, thanks to the rising medical tourism sector in the region. Moreover, the improving healthcare infrastructure in countries such as China and India is also expected to accelerate the growth of this market.
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Increasing Number of People Suffering from Cancer Worldwide Behind Growth
As per the America Cancer Society, a million people are suffering from cancer in the U.S. alone, and this will only increase every year. Sedentary lifestyle and poor dietary choices has fuelled the incidences of malignancy across the globe. This is expected to propel the growth of the global autologous cell treatment market. The continents in Asia, Africa, and Central America alone have 60% of its population suffering from cancer. This will create many growth opportunities for the global autologous cell treatment market.
Moral Issues Regarding Killing of Embryos Restricting Growth of Market
On the other hand, the debate about the moral issues of killing the embryos upon extraction of cells is a constant challenge for the global autologous cell treatment market. This issue is also restricting further innovative work relating to embryonic stems cells, which in turn will inhibit the growth of the global autologous cell treatment market. Moreover, the lack of repayment arrangements for cell treatment will dampen the growth of this market. The high cost of the treatment is one of the key factors restraining the growth of this market further.
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About Us
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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