Press release
Animal Stem Cell Therapy Market is set to Witness High Growth at a CAGR Of 5.2% and Reach US$ 437.3 Mn by the end of 2032
The animal stem cell therapy market is expected to witness significant growth in 2022 due to the increasing demand for animal stem cell therapy, the availability of advanced stem cell technologies, and the growing focus on the development of regenerative medicine. Animal stem cell therapy involves the use of stem cells to treat various conditions in animals, such as injuries, degenerative diseases, and immune disorders. The growing demand for animal stem cell therapy, the increasing research and development activities in the field of stem cell therapy, and the availability of advanced stem cell technologies, such as induced pluripotent stem cells, are expected to drive the growth of the market. In addition, the growing focus on the development of regenerative medicine and the increasing adoption of animal stem cell therapy by veterinarians are also contributing to the growth of the market.Request For Free Sample Report of "Animal Stem Cell Therapy Market"@ https://www.persistencemarketresearch.com/samples/14941
The global animal stem cell therapy market recorded sales of around US$ 249.9 Mn in 2021 and the market is predicted to experience healthy growth over the years ahead at a CAGR of 5.2% (2022 to 2032).
Animal stem cell therapies are treatments for disorders such as arthritis, soft tissue injuries, traumatic fractures, tendonitis, inflammatory bowel disease, and others that are given to animals. Hematopoietic stem cells and mesenchymal stem cells are used in these treatment procedures.
As the focus on giving animals a better quality of life grows, so does the adoption of such therapies across the world. The market for animal stem cell therapy is predicted to continuously increase owing to the growing need for higher levels of veterinary care.
Key Takeaways from Animal Stem Cell Therapy Market Study
Use of the mesenchymal stem cells, under the product type category for the animal stem cell therapy, is growing moderately. This segment held 71.1% market share by value in 2021.
Under the source category, high adoption of allogeneic stem cell therapy is being witnessed. Thus, the allogeneic source of animal stem cell therapy held the highest market share of 66.9% in 2021.
Osteoarthritis indication accounted for a market share of around 43.6% in 2021.
Increased adoption of canines is the reason this segment held the highest market share of 66.1% in 2021.
Under the end-user category, veterinary hospitals held 43.4% market share by value in 2021.
The Europe animal stem cell therapy market accounted for 31.5% of the global market share at the end of 2021.
"With rising disposable incomes and higher adoption rate of pet animals, the global market for animal stem cell therapy is set to gain traction over the coming years," says an analyst of Persistence Market Research.
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Market Competition
Key animal stem cell therapy providers are investing in innovating veterinary regenerative medicines and they are also coming up with new product launches for the well-being of animals.
Along with product innovation, market players are also aiming for various collaborations to strengthen their R&D in the field of animal stem cell therapy.
Boehringer Ingelheim, one of the key players in the animal stem cell therapy market, launched a new stem cell therapy that aims to improvise the healing capability of the tendon and suspensory ligament injuries in equines. This product, called RenuTend™, was launched in April 2022.
In April 2022, Exceed Equine collaborated with Medrego for determining stem cell treatments for a variety of ailments affecting performance horses.
What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the animal stem cell therapy market in its latest study, presenting historical demand assessment of 2012 - 2021 and projections for 2022 - 2032.
The research study is based on product type (hemopoietic stem cells and mesenchymal stem cells), source (allogeneic and autologous), indication (osteoarthritis, soft tissue injuries, traumatic fractures, tendonitis, inflammatory bowel disease, and others), species (canine, feline, and equine), and end user (veterinary hospitals, veterinary clinics, and veterinary research institutes), across seven key regions of the world.
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Key Questions Answered in This Report.
What are the Roadblocks for Animal Stem Cell Therapy Market Suppliers?
What are the Key Opportunities for Animal Stem Cell Therapy Market Manufacturers?
How is Focus on Safety Influencing Animal Stem Cell Therapy Market Demand?
What is the Regulatory Impact on Global Sales of Animal Stem Cell Therapy Market?
Which Region Offers the Largest Opportunity for Sales of Animal Stem Cell Therapy Market?
Where Does the U.S. Stand in the Market for Animal Stem Cell Therapy Market?
What Is the Outlook for Animal Stem Cell Therapy Market Manufacturers in China?
Why is Germany a Lucrative Market for Animal Stem Cell Therapy Market Manufacturers?
Why Will Belgium Outpace Other European Markets for Animal Stem Cell Therapy Market?
Why is There High Demand for Tires in Animal Stem Cell Therapy Market?
Why are Sales of Animal Stem Cell Therapy Market Surging?
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About Us
Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.
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