World Stem Cells Market Is Expected Grow at a CAGR of Over 12.0% Till 2020: Grand View Research, Inc
Online, June 3, 2014 (Newswire.com) - The Global Market for stem cells is expected to reach USD 170.15 billion by 2020, according to a new study by Grand View Research, Inc. Growing prevalence of chronic diseases such as cardiovascular and liver disease, diabetes and cancer coupled with the presence of high unmet medical needs in these disease segments is expected to drive market growth during the forecast period. Moreover, increasing government support pertaining to funding R&D initiatives and the growing demand for medical tourism and stem cell banking services is expected to boost the demand for stem cells over the next six years. The future of this market is expected to be driven by opportunities such as the growing global prevalence of neurodegenerative diseases, increasing demand for contract research outsourcing services and the substitution of animal tissues by stem cells.
The stem cells technology market was valued at USD 12.88 billion in 2013 and is expected to grow at a CAGR of over 12.0% during the forecast period. This market was dominated by the cell acquisitions technology segment in terms of share in 2013 owing to the fact that this technology serves as the foremost step to process involving stem cells culture. The global stem cell acquisition technology market is expected to reach USD 10.88 billion by 2020, growing at a CAGR of over 14.0% over the next six years.
The report "Stem Cells Market Analysis By Product (Adult Stem Cells, Human Embryonic Cells, Pluripotent Stem Cells), By Application (Regenerative Medicine, Drug Discovery and Development) And Segment Forecasts To 2020," is available now to Grand View Research customers and can also be purchased directly at grandviewresearch.com/industry-analysis/stem-cells-market
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Further key findings from the study suggest:
1. Adult stem cells segment dominated the overall market in 2013 with a share of over 80.0% on account of features such as low contamination probability, better acceptance by the human body and a relatively easier harvesting procedure
2. Regenerative medicine was identified as the largest stem cells application market and was valued at USD 30.16 billion in 2013. High global prevalence of neurology and orthopedic disorders and cancer is one of the most significant drivers of this market.
3. North America was the largest regional market in 2013, accounting for over 55% of global revenue. The presence of sophisticated healthcare infrastructure supporting R&D and strong government support in terms of funding are some of the drivers attributing to its large share.
4. Asia Pacific is expected to grow at the highest CAGR of over 25.0% during the forecast period owing to the growing demand for medical tourism and contract research outsourcing in emerging countries such as China and India
5. Key industry participants include BioTime Inc., Advanced Cell Technology Inc., Cellular Engineering Technologies Inc., STEMCELL Technologies Inc., and Cellartis AB
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For the purpose of this study, Grand View Research has segmented the global stem cells market on the basis of product, application, technology and region:
i. Stem Cells Product Outlook
- Stem Cells Platforms
- Sequence Analysis Platforms
- Adult Stem Cells
- Hematopoietic Stem Cells
- Mesenchymal Stem Cells
- Neuronal Stem Cells
- Dental Stem Cells
- Umbilical Cord Stem Cells
- Human Embryonic Stem Cells
- Induced Pluripotent Stem Cells
- Natural Rosette Cells
- Very Small Embryonic Like Stem Cells
ii. Stem Cells Application Outlook
- Regenerative Medicine
- Neurology
- Orthopedics
- Oncology
- Hematology
- Cardiovascular and Myocardial Infraction
- Injuries
- Diabetes
- Liver Disorder
- Incontinence
- Others (Crohn's Disease, Infertility, Immunodeficiency Disorder, Organ Transplants, Ophthalmic Disorder)
- Drug Discovery and Development
iii. Stem Cells Technology Outlook
- Cell Acquisition
- Bone Marrow Harvest
- Apheresis
- Umbilical Blood Cord
iv. Cell Production
- Therapeutic Cloning
- In Vitro Fertilization
- Isolation
- Cell Culture
- Cryopreservation
- Expansion and Sub-Culture
v. Stem Cells Regional Outlook
- North America
- Europe
- Asia Pacific
- RoW
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