Albany, NY, Feb. 05, 2018 (GLOBE NEWSWIRE) -- The report provides detailed analysis of the current and emerging trends in the global stem cells market. The market size according to product type, source, application, end users and geography is provided in the report. Geographically, the global stem cells market has been segmented into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Increasing incidence of life threatening diseases, such as different cancer, immune system disorders, accidents and development of point – of – care treatment are few factors driving the growth of global stem cells market.
North America dominates the global stem cell market according to geography. The improved investment scenario, high economic growth, growing prevalence of target chronic diseases, and technological advancements in the region are key factors driving the Stem Cells Market in North America. According to the American Cancer Society, there would be an estimated 1,688,780 new cancer cases diagnosed and 600,920 deaths caused by cancer in the U.S. by the end of 2017. Stem cell based therapies may cost between US$ 145,000 for treatment of metabolic diseases to over US$ 1.2 Bn for organ transplants. Moreover, no insurance plan covers treatment with cell therapy currently. Collaborations of the U.S. medical institutes with research institutes in Germany, China, the U.K. is also important factor driving the growth of the regions. Rising health care costs; growing elderly population; technological innovations in biomaterials, nanotechnology, drug delivery, and cell therapies are fueling the development of new regenerative medicines.
Europe is the second largest contributor in terms revenue for the growth of the global stem cells market. Patients from other countries in Europe as well as the U.S. and Canada travel to Germany to receive medical treatments at reasonable costs. Also, an increasing number of patients are taking the decision of undergoing stem cell procedures in Germany. Increase in the number of collaborations of different countries with the U.K. for stem cell research and rise in sponsorship by research institutes are key factors driving the U.K. Stem Cells Market. In total, 32 countries have collaborated with the U.K. for stem cell research. In 2014, 23,883 hematopoietic stem cells were transplanted in Europe. Rapidly aging population and growing prevalence of chronic diseases in Europe are factors driving the autologous segment of the market in the region.
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Asia Pacific stem cells market is expected to grow at higher CAGR of 14.6% during the forecast period. Australia is considered a leading market for stem cells, due to research in areas such as in-vitro fertilization technology and bone marrow transplantation conducted in the country. Australia has initiated development of critical infrastructure required for regenerative medicine research. It has also started forming partnerships such as the one with ARMI-MDI Biological Laboratory, which enable knowledge-sharing and accelerate discoveries in different therapy areas. In 2016, India’s first government-owned stem cell preservation center was unveiled in Kolkata. It would be utilized in the treatment of patients suffering from congenital and genetic problems. Growing prevalence for chronic diseases such as cancer and diabetes and increasing healthcare awareness among people, increasing demand for cell lines and cell banking, rising focus of CMOs/CROs on providing end-to-end services by expanding their service portfolio and collaborating with biopharmaceutical companies are few factors driving the growth of the Asia Pacific stem cell market during the forecast period.
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Latin America and Middle East & Africa are emerging regions of the global stem cells market in terms of revenue. Rapid aging population, growing prevalence of cardiovascular diseases, and emerging economy are the driving factors of the Brazil stem cells market. The major focuses in heart disease in Brazil are Chagas cardiomyopathy and ischemic heart disease. According to the World Health Organization, 31% of the population in Brazil is living with cardiovascular diseases. Growing prevalence of chronic diseases, specifically cardiovascular diseases, and collaboration activities for development of regenerative medicines are the key driving factors of the segment.
In 2014, the Brazilian Biosciences National Laboratory (LNBio) and the Australian Regenerative Medicine Institute (ARMI) promoted the Brazil-Australia meeting on the development of regenerative medicine. Factors such as high health care expenditure, growing awareness among people, and developed infrastructure are the key fueling factors for the growth of the Saudi Arabia stem cells market. According to the World Health Organization, the government accounted for 65.8% of health care spending. The health care spending is projected to rise by an average of 6.2% per year between 2014 and 2018.
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Major players operating in the global stem cells market are STEMCELL Technologies Inc., Astellas Pharma Inc., Cellular Engineering Technologies Inc., BioTime Inc., Takara Bio Inc., U.S. Stem Cell, Inc., BrainStorm Cell Therapeutics Inc., Cytori Therapeutics, Inc., Osiris Therapeutics, Inc., Caladrius Biosciences, Inc. and others.
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