Global Stem Cell Therapy Market Analysis and Forecast (2019-2024) The Courier – The Courier

During the projected period, the world stem cell therapy market is projected to rise to a CAGR of 10.6 percent and by 2024, its market size will reach 214.5 million USD. The global demand for stem cell treatment is driven mainly by increasing awareness of the therapeutic power of stem cells and the growth of stem cell banking and processing infrastructure. Due to the easy production scale process and the growing commercialization of allogeneic treatments, the industry has experienced strong demand for allogeneic therapies in the past couple of years. Two kinds of stem cell therapy are available, allogeneic and autologous. Both are larger in the allogeneic segment, and in the coming years, are expected to expand rapidly on the market due to their comprehensive therapies, increased marketing of allogeneic products, easy processing, and the increasing number of clinical trials relating to allogeneic therapies.

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The market was segmented based on therapeutic application into gastrointestinal disease, musculoskeletal disorders, cardiovascular disease, and injury. Musculoskeletal problems have led to the highest revenues in the market because musculoskeletal disorders and bone and joint diseases are on the increase and because stem cell products are available for treating musculoskeletal disease and because patients are increasingly favored for effective and early-treatment strategies.

Adipose originating from tissue-derived mesenchymal stem cells, cord blood cells, and bone marrow-derived mesenchymal stem cells were also categorized into a global stem cell therapy market by cell source. Of all categories, mesenchymal stem cells originating from bone marrow are used more and more for therapeutic purposes. The primary drivers of growth in stem cell therapy are increased awareness about the therapeutic potential of stem cell systems, development of stem cell banking and processing facilities, development of advanced cell analysis techniques based on genome, and the increase of private-government investment in stem cell therapy development. Globally, more than 50,000 transplants are carried out annually and they expand each year, according to the World Health Organization (WHO). The growth of the market also fosters a growing prevalence of chronic diseases, regulatory support across developing countries, and technical innovation in health care, cell therapy, and the discovery of new stem cell lines. Any of the diseases that can be treated by stem cell treatment may include osteoarthritis, multiple sclerosis, heart failure, hearing loss, and cerebral palsy. For example, the WHO predicts that by 2050 there will be a disabling hearing loss for an estimated 900 million people. In addition, the preventable cause of 60 percent childhood hearing loss.

Furthermore, the growth of the stem cell treatment market is stimulated by restrictions to traditional organ transplants such as organ donor dependence, risk of infection, immunosuppression rejection and threats and increasing pipelines for new applications and the development of medicinal products. North America is the the biggest market in stem cell therapy and the fastest growth in the market is seen. Factors that contribute to growth in the US stem cell therapeutics market include the an increasing number of trials to determine products therapeutic potential, increased chronic disease prevalence, a growing patient base for target diseases, increased public awareness of the therapeutics potential of therapy, and increased public-private grants for research and funding. Europe is expected to see substantial growth in stem cell therapy in the coming years.

The production of technologically innovative and advanced products is capitalized by major players in the industry, which is strengthened in the stem cell therapy market. Prestige Lyotechnology, a storage system for living cells and tissues, was introduced by Osiris Therapeutics in March 2017. In addition, MEDIPOST announced that in February 2018, the FDA has approved its drug NEUROSTEM for clinical trials for its stem cell-based Alzheimers disease drug. Some of the major players providing services are Osiris Therapeutics, Ing, RTI Surgical, Inc., MEDIPOST Co., Ltd, Nuvasive, Inc., Pharmicell, Ltd, Holostem Terapie Avanzate Srl, JCR Pharmaceuticals Co., Ltd., Anterogen Co., Ltd., and Allosaurus.

Update :

20 years old, a life-saving stem cell transplant was carried out in an anonymous donor in Germany to fight rare blood cancer. Swindons Luke Hope lost his sight in the right eye and got a 30% chance of acute lymphoblastic leukemia survival (ALL). In October, after a match was made with a man from Germany, he received a transplant at Churchill Hospital, Oxford. The UK stem cell transplantation waiting list currently has 2,000 participants.

In some private clinics patients with the healing power of stem cells charge thousands of pounds for unproven and non-regulated treatments. And some of these therapies can cause serious damage to experts. Stem cells can be used to heal damaged tissue and can transform several forms of body cells, from muscle to brain. However, only certain blood disorders, skin grafts, and repair of damaged corneas have been authorized.

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Contact Person- Kundan Kumar Email ID Source: VynZ Research

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Global Stem Cell Therapy Market Analysis and Forecast (2019-2024) The Courier - The Courier

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