BURNABY, Canada, October 29, 2015 /PRNewswire/ --
Growing presence of stem cells research centers, increasing consumer awareness and rising medical tourism is driving Indian stem cells market
According to recently published Pharmaion report, "India Stem Cells Market Forecast & Opportunities, 2020", stem cells market in India is anticipated to grow at a CAGR of over 28% over 2015 - 2020. Growth in the market is anticipated on account of increasing investments from the government as well as various private organizations, growing industry focus on stem cell research, and rising awareness about stem cell banking. Moreover, emergence of induced pluripotent stem (iPS) cells as an alternative to embryonic stem cells (ESCs), and evolution of new stem cell therapies are anticipated to boost growth in stem cells market in India over the next five years.
Being considered as the "building blocks of life", stem cells are capable of treating various diseases, such as diabetes, multiple sclerosis, Parkinson's, Alzheimer's, arthritis, blindness, stroke and heart diseases. Moreover, scientists across the country are working on techniques to further enhance the efficacy of stem cell therapy. For instance, menstrual stem cell technology is a budding trend, which is capable of growing heart muscles at a success rate of more than 100 times higher than the 0.2-0.3% for stem cells taken from bone marrow. These cells can revolutionise the way many diseases are being treated and transform the lives of millions of people across the country in the coming years.
On the basis of services offered, India stem cells market has been segmented into two categories, namely, stem cell banking and stem cell research. Stem cell research dominated the market in 2014, and is anticipated to continue its dominance during 2015 - 2020 on account of growing focus on commercialization of public and private research, rising number of stem cell research groups, and escalating cost for traditional drug development. In 2014, adult stem cells accounted for a majority share in the India stem cells market owing to a large number of research being carried out using adult stem cells. Region-wise, South India dominated the country's stem cells market in 2014.
"Private stem cell banks are adopting various marketing tactics in order to increase their product visibility across the country. Sales force of these private firms are visiting consumers and educating them about stem cell banking concepts and associated advantages. Moreover, in India, the stem cell industry is witnessing increasing level of collaborations among the various stakeholders, which is positively impacting the stem cells market in the country." said Mr. Karan Chechi, Research Director with Pharmaion, a research based global pharmaceutical and healthcare consulting firm.
"India Stem Cells Market Forecast & Opportunities, 2020" report has analyzed the potential of stem cells market and provides statistics and information on market size, shares and trends. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with major drivers, challenges and opportunities in the India stem cells market.
Pharmaion is a research based management consulting firm focused exclusively on Healthcare & Pharmaceutical industry. Led by a team of dynamic industry experts, Pharmaion provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, Pharmaion's clients lead rather than follow market trends. Pharmaion has developed a proprietary database which focuses on identifying the unexplored opportunities in Healthcare and Pharmaceutical industry.
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