Stem Cell Therapy is a type of regenerative medicine designed to repair damaged cells within the body by reducing inflammation and modulating the immune system.
This phenomenon makes stem cell therapy a viable treatment option for a variety of medical conditions. Stem cell transplantation is a type of cancer treatment that helps restore the stem cells responsible for blood-forming in patients who have had their blood-forming stem cells destroyed, either through radiotherapy or chemotherapy.
Stem cell cancer treatment is used to help treat patients with certain types of cancers, namely leukemia, and lymphoma. However, it can also be used to help treat neuroblastoma as well as multiple myeloma. In a stem cell transplant, the patient receives healthy blood-forming stem cells through a needle in a vein.
Once they enter the bloodstream, they will travel to the bone marrow, where they take the place of the cells that were destroyed by treatment. The blood-forming stem cells used in transplants can come from the bone marrow, bloodstream, or umbilical cord. Transplants can be Autologous, Allogeneic, Syngeneic.
Additionally, the adoption of stem cell procedures for managing various types of cancer is increasing the demand for stem cell transplants.
The global Cancer Stem Cell Therapy market growth is driven by the growing incidence of cancer cases, Increasing demand for therapies, a Strong pipeline of drugs, and advanced technological facilities are among the key factors driving the market growth.
The increasing prevalence rate of cancer cases is expected to drive the growth of the global Cancer Stem Cell therapy market during the forecasting period.
As per the Globocan 2020 fact sheet estimates, about 19,292,789 new cancer cases were diagnosed worldwide. Additionally, according to International Agency for Research on Cancer (IARC) estimates, by 2040, global cancer cases are expected to grow to 27.5 million new cancer cases worldwide. Thus, the demand for stem cell therapy and the increasing incidence of cancer cases are expected to drive the need for advanced cancer therapies to treat patients effectively and grow the market share.
A strong drug pipeline is expected to drive the growth of the global Cancer Stem Cell therapy market during the forecasting period.
The prevalence of cancer worldwide is driving many vendors in the market to develop novel stem cell therapies. Several drugs are in the late stages of clinical trials and are expected to receive marketing approvals over the forecast period. For instance, Cordgenics, LLC, conducts Standard Chemotherapy Versus Cancer Stem Cell Assay Directed Chemotherapy in Recurrent Platinum-Resistant Ovarian Cancer. The Diagnostic Test: ChemoID Assay
Drug: Standard Chemotherapy is currently in Phase III of clinical trials and is expected to be launched in the US by 2021.
North America holds the largest market in the global cancer stem cells market due to the high incidence of cancer, according to the International Agency for Research on Cancer (IARC), which claims 13 million new cancer cases worldwide.
The World Cancer Report provides that the incidence rate of new cancer cases is increased by 50% to 15 million in 2020. The existence of a highly developed healthcare system, the high degree of acceptance by medical practitioners of novel chemotherapy and immunotherapy methods, the total availability of advanced technological tools, FDA approval of new drugs, and also the presence of a vast number of organizations engaged in R&D activities related to stem cell therapy and there are several internationally recognized hospitals and medical institutes, such as Cancer Treatment Centers of America at Midwestern Regional Medical Center, which offer stem cell transplant therapies.
Competitive Landscape
The Global Cancer Stem Cell Therapy Market is quite competitive with some key competitors like AVIVA BioSciences, AdnaGen, Advanced Cell Diagnostics, Silicon Biosystems, Thermo Fisher Scientific, Inc, Cellerant Therapeutics, Inc, Celularity Inc, Gamida Cell Ltd, Nohla Therapeutics, Inc, Sumitomo Dainippon Pharma Co. Ltd.
The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, contributing to the market’s growth globally. For instance, the Canadian Cancer Trials Group with NCIC Clinical Trials Group conducted a Randomized phase III trial to compare the effectiveness of high-dose chemotherapy plus peripheral stem cell transplantation with that of standard therapy in treating women with metastatic or recurrent breast cancer.
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