There is a constant rise in demand for autologous transplant of stem cells, which replace damaged or diseased stem cells. These are collected in advance (from the same person) and returned whenever required. This procedure is commonly used during the treatment of various types of blood cancers, solid tumors and such other diseases and disorders. This treatment provides patients with better chance of survival and quick recovery from that particular disease. Considering the vital role this process plays in the treatment of various diseases, global autologous stem cell market is making swift growth in terms of demand, innovation, applications and market revenue.
Overview of Autologous Cell Therapy (ACT) Market
Autologous stem cell market is witnessing great rise in demand. This therapy is safe, efficient, easy, deliverable and affordable as compared to its conventional counterparts. As a result, autologous cell therapy is increasing adopted in the healthcare sector. Rising demand from the potential therapeutic areas for the industry is the strongest driver for the industry. There is a great rise in the instance of various types of cancer, different types of cardiovascular diseases, and autoimmune diseases like diabetes, skin diseases and skin transplantation. Advancements in the available technologies are also a major driving factor for the global autologous stem cell market.
The ACT market is constantly evolving with innovation, rise in applications and inventions. As a result, researchers are expecting the industry to progress at an impressive compound annual growth rate. The industry is segmented based on the types of stem cell and non-stem based cells. The market is also categorized based on the types of diseases where these therapies are used. Demand across different geographic regions is also taken into consideration while drawing conclusive figures about market revenue and forecasting reports for the ACT industry. Analysis of all these segments shows that the global market is expected to grow at a projected CAGR of 21%.
At the estimated compound annual growth rate, autologous stem cell market is expected to grow on to become worth more than $2.2 billion by 2017. Currently, the industry is estimated to be at $650 million. According to the experts, autologous cell therapy is anticipated to reform the approach of medicinal treatments. Advancements in the existing stem cell therapies will broaden the horizons for the industry, which is a great sign as far as the future of this industry is concerned. Government backing in the form of funding to research and development of these therapies will drive the industry further in different geographic regions like North America, Asia Pacific, Europe and rest of the world.