Stem cell umbilical cord blood market has billion dollar ($56.4 billion) boom by 2020 with a CAGR of 33.4%.
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The study observed that the global umbilical cord blood stem cell market is forecasted to reach a market value of over $11.5 billion in 2014 from $ 6.5billion in 2012. Developments and approvals for novel cord blood stem cells therapies are expected to drive the market growth. The market is expected to reach revenue of $56.4 billion by 2020, growing at CAGR of 33.4% from 2013 to 2020. The storage service market was valued at $7.4billion in 2013.
Increase in the prevalence rate of chronic diseases such as cancer, diabetes, blood disease, immune disease, metabolic disease, etc. Has increased the need for a cost-effective and efficient way of treatment. However, cord blood stem cells have the potential to treat these chronic diseases effectively. These stem cells have the special property of higher cell count in lower blood volume. Collection of these stem cells is much easier than other stem cells and could be stored in specialized preservation facilities called Cord Blood Stem Cell Banks.
Cord blood stem cells market is in its emerging phase. Significant applications of stem cells in the treatment of various disorders will be commercialized very soon as most of them are in the last phase of clinical trials. Patents for collection techniques and therapeutics methods are approved by respective government of developed countries, however, patents for UCB stem cells are comparatively less in developing economies.
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According to lead analyst Debbie Shields, the geographic analysis shows that the North American market for cord blood stem cell would account for approx. 44% of the total revenue generated by the cord blood market in 2013. However, much-expected growth is to occur in Asia-Pacific regions during the forecast period, because of a growing demand for chronic disease treatments and widely increasing awareness levels.
This report study offers an updated review about major market players present in this market such as researcher based pharmaceutical companies and therapeutics services companies. Company profiles in this report include - Advanced Cell Technology Inc., California Stem Cell Inc., Cytori Therapeutics Inc., Mesoblast Limited, Opexa Therapeutics Inc.(USA), Athersys Inc., Geron Corporation, and Neostem Inc.
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