Transparency Market Research, in a report titled “Stem Cells Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018”, states that the global stem cells market is projected to witness remarkable growth from 2012 to 2018, fueled by increasing government support, unmet medical needs, rising stem cell banking services, and growing medical tourism. Driven by these factors, the global stem cells market is anticipated to expand at a 24.20% CAGR during the forecast period, rising from a value of US$26.2 bn in 2013 to US$119.5 bn by 2018.
Rise in disposable income in emerging economies, the increasing prevalence of neurodegenerative disorders, development of the contract research industry, and replacement of animal tissue in drug discovery are also anticipated to contribute towards the overall growth of the stem cells market.By product, the stem cells market is categorized into adult stem cells, induced pluripotent stem cells, very small embryonic-like stem cells, human embryonic stem cells, and rat neural stem cells. Adult stem cells, which dominated the overall market in 2011, include mesenchymal stem cells, dental stem cells, neuronal stem cells, hematopoietic stem cells, and umbilical cord stem cells.
On the basis of technology, the stem cells market is segmented into stem cell acquisition, production, cryopreservation, and expansion and sub-culture. Stem cell acquisition is the largest as well as the most rapidly developing technological segment and includes bone marrow harvesting, umbilical cord blood, and apheresis. The segment of stem cell production includes cloning, isolation, in-vitro fertilization, and cell culture.
On the basis of application, the stem cells market is bifurcated into regenerative medicine and drug discovery and development. Regenerative medicine, which holds the larger share in the stem cells market, covers major disciplines such as orthopedics, hematology, wound care, diabetes, incontinence, neurology, oncology, cardiovascular and myocardial infarction, spinal cord injuries, and liver disorders.
Geographically, the global stem cells market is divided into Europe, Asia Pacific, North America, and Rest of the World. North America dominates the overall market, followed by Europe owing to increased prevalence of neurological and cardiac disorders, state initiatives and provision of grants from several organizations, development of innovative therapies, strong research activities, and effective marketing solutions. The Asia Pacific stem cells market is anticipated to witness impressive growth over the next two years thanks to rapidly growing contract research outsourcing and booming medical tourism.
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The leading companies profiled in the stem cells market report are Osiris Therapeutics, Advanced Cell Technology, Cellartis AB, Bioheart, Cellular Engineering Technologies, Biotime Inc., Cytori Therapeutics Inc., Angel Biotechnology, Stemcelltechnologies Inc., California Stem Cell Inc., Brainstorm Cell Therapeutics, and Celgene Corporation Inc. These players are analyzed based on aspects such as company and financial overview, product portfolio, business strategies, and recent developments.
North America Leads Global Stem Cells Market, Asia Pacific to Register Fastest Growth
Regionally, the global stem cells market is segmented into Europe, Asia Pacific, North America, and Rest of the World. Of these regions, North America led the global stem cells market in 2011, holding a majority share in the global market. The region was followed by Europe, with a share of over 25% of global stem cells market the same year. High prevalence of neurological and cardiac diseases in the U.S, which, according to the Centers for Disease Control and Prevention, causes more than 50% of the total deaths in the country every year, is a significant factor contributing to the growth of the stem cells market in North America.
In the next couple of years, the stem cells market in Asia Pacific is expected to register a double-digit CAGR. The rapidly growing sector of medical tourism and increase in contract research outsourcing to the region are the factors likely to boost the stem cells market in Asia Pacific.
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