Increase in Prevalence of Chronic Disorders Expected to Drive Global Stem Cell Therapy Market: Ken Research
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Referring to the study, Global Stem Cell Therapy Industry Research Report 2021 Segmented by Major Market Players, Types, Applications and Countries Forecast to 2027. Some of the key companies operating in the global stem cell therapy market include JCR Pharmaceutical, Chiesi Pharmaceuticals, Osiris Therapeutics, Anterogen, Takeda (TiGenix), NuVasive, Medi-post, Molmed, Pharmicell and among others.
Based on types, Global stem cell therapy market can be segmented as Allogeneic and Autologous. Allogeneic stem cell therapy holds major share in global market owing to rise in prevalence of cancer and related diseases among people. In addition, based on applications, market can be segmented as cornea, wounds & injuries, cardiovascular diseases, musculoskeletal disorder and others.
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Increase in GMP-certification approvals for cell therapy production facilities, followed by growth in availability of funding for stem cell research, rise in advent of advanced genomic procedures used in stem cell analysis, increase in funds in the development of new stem lines, greater emphasis on human embryonic stem cells and increase in clinical trials for stem cell based-therapies are some major factors, which are responsible for growth of the stem cell therapy market. Apart from this, high cost of cell-based research and ethical concerns related to embryonic stem cells may impact the market. Moreover, rise in demand for cell & gene therapies and emergence of iPSCs as an alternative to ESCs are leading opportunities for global market.
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Based on regional analysis, the North-America is a leading region in global stem cell therapy market owing to increase in number of clinical trials, extensive research & development, presence of key players engaged in developing stem cell therapies and rise in public awareness related to the therapeutic potency of stem cells in disease therapy across the region. The Asia-Pacific and Europe regions are estimated to witness higher growth rate due to large patient population, establishment of several stem cell banks, and increase in government support by providing funds and strong product pipelines in regenerative therapies during the forecast period. It is projected that future of the global stem cell therapy market will be bright on account of rise in prevalence of chronic diseases and growth in development of stem cell-based therapies during the forecast period.
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