A stem cell is a cell of a multicellular organism and has the ability to give rise to indefinitely more such cells of the same kind from which some other types of cells arise by differentiation.
Stem cell is an undifferentiated cell and is used for medical purposes.
Market analysis of the Stem cell industry
The United States Stem Cell Market based on the product types is segmented into Embryonic Stem Cell, Umbilical Cord Blood Stem Cell, Adult Stem Cell, and various others.
Rising at a compound annual growth rate of more than 9%, the market of stem cells at a global level is expected to witness an immense growth in the future years and is forecasted to hold,reach and expand it's market to more than 15 U.S. Billion dollars in the next 8-9 years, which in itself is a great achievement.
This growth rate is subject to the market driving factors influencing the market industry of stem cell globally. Use of the stem cells by researchers to study and broaden the scope, use, and application of stem cell is considered to be a major factor fuelling the market growth of this industry.
Due to continuous efforts and research work of the researchers in studying and analysing the stem cell, many new doors have opened for its utility purpose. Moreover researches have led to the discovery of clinical use of stem cells which will be helping in curing the diseases better and will assist in making the treatments modified in a new way. Stem cells because of its clinical applications will become a part of pharmaceutical industry as well leading to a rise in its market growth even more.
In order to cope up with the increasing demand with subject to increasing utility of stem cells, scientists are continuously working towards finding new methods for creating human stem cells.The stem cell would be helping in the development of regenerative medicines that will help the damaged body tissues and cells heal completely and regenerate which is nearly impossible for most diseases today. This will aid in the rising market growth of stem cell market industry.
Cellular therapies are to be expanded by the firms in the near future for introducing transformations in health care and medical sector.The cellular therapy is planned to be expanded because firms are understanding its power and potential to eradicate, cure and treat diseases like Alzheimer's disease, type 1 diabetes, spinal cord injury, Parkinson's disease and a few others.
Studies also reveal that the adult stem cells are currently dominating the market industry of stem cell globally and is expected to do the same in the future as well. Also the market growth of regenerative medicines sector of stem cell is forecasted to rise even more in the future subject to the significant number of pipeline projects associated with it. Moreover this sector is to hold a prominent share in total revenue of stem cell market at a global level.