(PharmaNewsWire.Com, May 08, 2021 ) The report “Synthetic Stem Cells Market by Application (Cardiovascular Disease, Neurological Disorders, Other Applications (Cancer, Diabetes, Gastrointestinal, Musculoskeletal Disorders)), Region (North America (US, Canada}, Europe, APAC, RoW) – Global Forecast to 2028“, the artificial stem cells market size is expected to grow from USD 14 million in 2023 to USD 37 million by 2028, at a CAGR of 22.5% during the forecast period.
Market Size Estimation;
The top-down approach was used to estimate and validate the total size of the synthetic stem cells market. The approach was also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- Synthetic stem cells that could be used as therapy were identified through secondary research, and their market shares in the respective segments were determined through primary and secondary research.
- The procedure included extensive interviews with industry leaders such as CEOs, VPs, directors, and marketing executives for key insights.
- All percentage shares, splits, and breakdowns were determined using secondary sources and are verified through primary sources.
- All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
The cardiovascular diseases segment is expected to command the largest share of the overall synthetic stem cells market during the forecast period.
The synthetic stem cells market, by application, is estimated to be dominated by the cardiovascular diseases segment in 2023. This is attributed to the fact that the synthetic stem cells have been firstly developed for cardiac tissue and are tested in mice models. After the successful pre-clinical testing of cardiac synthetic stem cells, these cells will enter the clinical phase of development and are expected to hit the market by 2023.
North America to lead the synthetic stem cells market with accelerated R&D activities in stem cell therapy research.
North America is estimated to account for the largest share of the market in 2023. North America is the pioneer of synthetic stem cell technology. Also, North America leads in the R&D of stem cell therapies globally, with the registration of the highest number of clinical trials (more than 1400) on stem cells till 2018. This is further backed by the high rate of adoption of advanced therapies in the US (more than 600 stem cell therapy clinics in the US in 2016).
Key Market Players;
The technology is developed and patented by North Carolina State University (NCSU) (US) and Zhengzhou University (China).
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