BANGALORE, July 30, 2015 /PRNewswire/ --
According to a new market research report, 'Global Stem Cell Market - Growth, Trends & Forecasts (2015-2020)', published by Mordor Intelligence, the Global market is expected to be worth US$ 30.25 billion by the end of 2020, with North America being the largest market globally accounting for more than 40% of the global market size. The Global market for Stem Cells is expected to grow at a CAGR of 13.7% during the period of (2015-2020).
Stem Cell Research is one of the most exciting areas of the 21st century science. Stem cell research has the potential to revolutionize the way we treat conditions, including regenerative diseases for which few effective treatments currently exist. There is a lot of hope expectations invested in this field by researchers, Governments and the general public, that this research will one day produce great results which will one day cure diseases such as Parkinson's, Diabetes, Cancer and Alzheimer's disease.
Regenerative Medicine is one of the fastest growing therapeutic applications of Stem Cells. It involves the usage of innovative medical therapies for the body to repair or replace the diseased or damaged cells. Body Builders is considered to be the emerging science of regenerative medicine.
In the recent times, emerging nations from Asia Pacific have shown greater growth aspects. This can be attributed to the developing economies investing large amounts in Medical research and healthcare facilities coupled with the fact that there is an increase in incidences of chronic diseases like cancers. The stem cell market in Asia Pacific will be one of the largest contributing markets in the near future.
Increase in approval rates of clinical trials in Stem cell research, emergence of human derived stem cells, increase in chronic patient population and emerging markets offering excellent prospects are the major factors driving the growth of the Global Stem Cell Market. However, ethical & moral concerns, regulatory complications and highly expensive procedures are hindering the market's growth.
The Global Stem Cell Market can be segmented on the basis of Service (Stem Cell Banking, Stem Cell Acquisition & Testing and Cryopreservation), Therapeutic Applications (Regenerative Medicine, Neurological Disorders, Orthopedic Treatments, Oncology, Diabetes, Injuries & Wounds and Cardiovascular Disorders), Treatment Types (Allogeneic Stem Cell Therapy, Autologic Stem Cell Therapy, Syngeneic Stem Cell Therapy) and Geography (North America, Europe, Asia Pacific, Middle East & Africa, Latin America and Rest of the World).
The major players in the market are Vericel Corporation, Ocata Therpeutics, Athersys Inc., Cryo-Cell International, Geron Corporation, StemCells, Inc. and a few others.
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Mordor Intelligence is a global market research and consulting firm offering in-depth market analysis reports and consulting services.
SOURCE Mordor Intelligence LLP