Stem cell therapy including the conventional bone marrow transplant treatment helps in the process of preventing various diseases and serious health conditions. Increased research and development activities are driving the global stem cell therapy market at a highly impressive growth rate. Growing applications of these therapies in the treatment of different diseases and disorders are projected to drive the market further ahead. Innovative marketing and numerous health benefits of these treatments along with the awareness toward health and wellbeing are expected to steer the global industry into the positive direction. According to the experts, some of the crucial issues to keep an eye include governmental initiatives and technological advancements in the industry.
Segments in Stem Cell Therapy Market
The global market is segmented on the basis of the modes of therapies, applications of these treatment in various health conditions including diseases and disorders, and demand in the stem cell therapy market across different geographic regions. Based on the modes of therapy, the industry is categorized into autologous and allogeneic therapies. Both these segments are further divided into the sub-segments such as wounds and injuries, diseases of GIT, eye, immune system, metabolic, CNS, CVS, musculoskeletal and other diseases and disorders. Naturally, all the aforementioned diseases have therapeutic applications of stem cell treatments. Geographically, the industry is divided into Europe, North America, Asia Pacific and the rest of the world.
Drivers and Forecasts
A number of factors are responsible for the rapid growth rate witnessed by the global stem cell therapy market. the strongest of these factors include rising funding from various government bodies, authoritative organizations and private institutes, growing research and development activities, development of advanced genomic methods, growth in the number of applications and approvals for clinical trials, and growing instances of different chronic diseases and disorders. Growth in demand and awareness towards the advantages and applications of these therapies, especially across emerging markets are the vital driving factors for the overall global market.
Based on all the aforementioned factors, segments and key drivers, the global stem cell therapy market is expected to grow at a CAGR of over 39% from 2015, which will take the industry to $330 million by the end of the year 2020. Growth in the funding and approvals for clinical trials are expected to drive the demand and applications segment for the industry even further. These are considered to the excellent signs for the global businesses. Additionally, key investments from leading players of the world and growth in healthcare sector of the emerging nations are also anticipated to help the industry grow in a massive manner.