The COVID-19 pandemic is expected to impact the global cancer stem cells market in a positive way. Bladder cancer segment will flourish with healthier rate of revenue in the global market. Targeted cancer stem cells application segment is foreseen to gather a considerable amount of the global market share. Considering regions, Asia-Pacific region has dominated the global market share in the forecast period.
The world is facing an unexpected change and many of the industries are experiencing thought provoking situation due to the COVID-19 pandemic. The COVID-19 outbreak has positively impacted the cancer stem cells market. Many government bodies are investing money for research & development activities to enhance the utilization of cancer stem cells for the treatment of cancer cells.In addition, development of stem cells for stem line banking and developing induced pluri-potent stem cell (PSC) lines can be done for treatment of broad range of diseases from diabetes to arthritis. During this coronavirus crisis situation, we are helping our clients in understanding the impact of COVID-19 on the cancer stem cells market.
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According to a new report published by Research Dive, the global cancer stem cells market is projected to generate a revenue of $1,898.3 million by 2026, at a CAGR of 11.8% in the forecast time from 2019 to 2026.
The global market segmentation has been done on the basis of cancer forms, application, and region. The report provides detailed information about drivers, opportunities, restraints, segmental analysis and competitive players of the market. As per our analysts, increased risk of cancer around the world and increased trend among youth for smoking is increasing the risk of cancer, which is significantly driving the market growth.
Based on cancer forms, the overall market is segmented intobreast, blood, lung, brain, colorectal, pancreatic, bladder, liver, and other. Among these, bladder cancer segment dominated the market in the year 2018 and is expected to register for $303.9 million in 2026. Deaths around the world due to bladder cancer account for nearly 150,000 per year. Many other treatments such as systemic immunotherapy, radiotherapy, and chemotherapy are used to treat but treating bladder cancer by utilization of cancer stem calls has resulted in positive outcome. According to the U.S. government, bladder cancer is the fifth most occurring cancer amongall other cancer types and thus positive impact of CSCs in the treatment will accelerate the growth of the market in the projected time.
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On the basis ofapplication, the cancer stem cells market is classified into stem cells cancer therapy and targeted cancerous stem cells. The market for targeted cancerous stem cells application segment will witness to rise at a rate of 13.0% CAGR and is predicted to register for $910.0 million till the end of 2026. Targeted cancerous stem cells have the potential to attract normal cells and can be utilized positively to target cancer cells owing to the interaction between normal cells and CSCs, resulting in reduced inflammation, angiogenesis, and tumor proliferation. These factors will fuel the market size in the forecast time.
Asia-Pacific market has dominated the global market share, and is estimated to reach up to $405.1 million till 2026. This dominance is attributed due to thepresence of significant number of associations actively engaged in the R&D of stem cell therapy. Asia-Pacific cancer stem cells market will experience a remarkable growth and projected to generate revenue of $405.17 million by the end of 2026, at a CAGR of 12.8%. This expected rise in the Asia-Pacific market is majorly due to funding agencies are providing permission to research associations to accelerate their R&D on cancer stem cells in other Asian countries and this aspect is predicted to boost the market growth in the projected time.
The most prominent players in the global cancer stem cells market include Thermo Fisher Scientific Inc., Merck KGaA, AbbVie Inc., Stem Cell Technologies Inc., Irvine Scientific, OncoMed Pharmaceuticals, Sino Biological Inc., BioTime Inc., MiltenyiBiotec and others.
Look for more statistical information at: https://www.prnewswire.com/news-releases/cancer-stem-cells-market-expected-to-generate-revenue-of1-722-7-million-growing-at-a-cagr-of-10-3-by-2026300996071.html
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Read more from the original source:
Potential Impact of COVID-19 on Cancer Stem Cells Market: What to Expect from Industry in 2020? – Scientect