Cancer Stem Cells Market Projected to Increasing Number of Cancer Patients Across the Globe and Rising R&D Activities on Stem Cell

The cancer stem cells market is expected to grow immensely due to the rising prevalence of cancer worldwide. The breast cancer sub-segment is predicted to be highly dominant. The North America region to be highly lucrative by 2026.

According to the report, the global cancer stem cells market is predicted to surpass a revenue of $1,722.7 million and grow at 10.3% CAGR during the 2019-2026 forecast period.

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Dynamics of the Market

Drivers: The growing number of cancer patients across the world along with the consequent requirement of rapid therapy to identify pathogens are the prime driving factors for the global cancer stem cells market growth during the forecast period. In addition, the increasing geriatric population which is susceptible to such infections due to suppression of immunity is yet another boosting factor for the market growth.

Restraints: High costs of cell therapy treatment may hamper market growth during the forecast period.

Opportunities: Increasing technological advancements along with rising research and development activities on stem cells are the main factors to provide abundant growth opportunities for the global cancer stem cells market during the analysis timeframe. Moreover, innovative and effective launches of some therapeutic options by key market players to limit the growth of cancer cells is projected to augment the industry growth by 2026.

COVID-19 Impact on the Market

The global cancer stem cells market has witnessed tremendous growth during the COVID-19 pandemic, unlike most industries, since blood culture is considered as the standard for diagnosis of the infection. Moreover, the rising cases of cancer patients in Europe and the US along with the consequent requirement for proper diagnosis and treatment led to the surge in the market growth. Additionally, the corona virus has been undergoing several mutations that led to increased research and development activities to curb the virus spread and the introduction of cost-efficient and easy-to-use devices. These factors boosted market growth amid the catastrophic times.

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Segments of the Cancer Stem Cells Market:

According to the report, the market has been divided into multiple segments based on cancer form, application, and regional analysis.

By cancer form, the breast cancer sub-segment of the global cancer stem cells market is estimated to hold a dominating market share by 2026 mainly due to increasing cases of breast cancer patients across the globe. Breast cancer can be influenced by variations in women's lifestyles, hereditary influences, and increased consumption of alcohol and hormones. This type of cancer is a frequent human malignancy and causes most deaths globally.

By application, the stem cell-based cancer therapy is expected to have the highest growth rate and gather a significant revenue during the analysis years. This is mainly because stem cell cancer therapies are considered efficient and secure and is a crucial step for hunting better cancer treatments. Moreover, stem cell cancer therapy is currently the only chance for cancer biology which further bolsters the sub-segment's growth.

By region, the cancer stem cells market in the North America region is projected to witness abundant growth opportunities and grow at significant CAGR during the forecast timeframe. This is mainly due to the presence of renowned biomedical research institutes, simple approval procedures for clinical trials and growing R&D activities related to stem cell therapy.

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Key Market Players

Some key cancer stem cells market players include AdnaGen GmbH, Silicon Biosystems, S.p.A., Epic Sciences, Inc., Advanced Cell Diagnostics, Inc., Celula, Inc., Fluxion Biosciences, Inc., AVIVA Biosciences Corporation, Rarecells USA, Inc., and many more. These players are working on developing strategies such as product development, merger and acquisition, partnerships and collaborations to sustain the market enhancement.

For instance, in May 2022, Gilead Sciences Inc., an American biopharmaceutical organization, announced its collaboration with Dragonfly Therapeutics, a clinical-stage biotech that develops first-in-class cancer therapeutics, to boost the latter's production of novel natural killer (NK) cell engager-based immunotherapies for oncology and inflammation symptoms.

The report also summarizes many crucial aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.

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