(PharmaNewsWire.Com, January 04, 2017 ) Global stem cells market is expected to grow at a CAGR of approximately 23% during the forecasted period of 2015-2021. The market is driven by various factors which includes increasing prevalence and incidence rate of cancer and cancer related diseases. Rising research and development programs, increasing awareness related to regenerative treatment, increasing use of biomarkers and growth in biopsy market are also driving the market. High prevalence of cancer in children is also a key driving factor for stem cell study. The number of stem cell banks has increased exponentially. Number of hospitals and research centres in developed countries are capable of storing stem cells. Even in countries such as China and India, the growing awareness amongst the professionals and masses is key driver for the market. India, China and other emerging nations are also offering stem cell therapies and services and lower cost which is leading to emergence of medical tourism in stem cells market.
The market is segmented on the basis of product type, applications and by technology. The product types consist of adult stem cells, human embryonic stem cells market, induced pluripotent stem cells market and very small embryonic like cells market. Applications include regenerative medicines market which is further segmented as cancer regenerative medicines market, orthopaedics regenerative medicines market, haematological regenerative medicines market, neurological regenerative medicines market, cardiovascular regenerative medicines market, regenerative medicines market, injuries regenerative medicines market and others regenerative medicines market. Drug discovery is also a major application. Stem cells market by technology includes bone marrow harvest, apheresis, umbilical blood cord, therapeutic cloning, in vitro fertilization, isolation, cell culture, cryopreservation, and expansion and sub culture. Geographically, the market is segment as North America, Europe, Asia Pacific and rest of the world. North America has the highest market share followed by Europe and Asia Pacific. Asia Pacific is expected to report highest growth rate for the forecasted period. Key companies in the market includes STEMCELL technologies, Millipore, Corning, BioTime Inc, Advanced Cell technology Inc, Cellular engineering technologies and other major companies.
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Biotechnology & Pharmaceuticals resource center today to browse our selection of 600+ complimentary Biotechnology & Pharmaceuticals magazines, white papers, webinars, podcasts, and more. Get popular titles including:
