Stem cells have revolutionized the medical sector ever since they were discovered in the last century. With these cells holding immense potential in the field of medical domain, a distinct stem cells market exists from a global perspective.
Increasing demand for highly efficient ways of medical treatment is one of the most notable factors driving the global stem cells market. Every year, scientists make some breakthrough or the other in terms of stem cells research. These breakthroughs range from techniques to ensure that the cells are capable of taking part in treatments to finding out new uses of these cells from both medical and non-medical processes. Several businesses are pouring extensive investments to develop infrastructure for carrying out stem cell research. This too is majorly driving the global stem cells market.
Revenue-wise, expert analyst indicate that the global stem cells market could register a healthy valuation of US$270.5 bn by 2025. This growth is prophesized to occur at a splendid CAGR of 13.80% between 2017 and 2025. The following section elaborates more about how the global stem cells market is expected to gain extensive growth.
Stem Cells Market Gets a Boost with Potential for Universal Transplantation
Scientists from the University of California, San Francisco are working on developing pluripotent stem cells that can pass through the immune system of a human body. In this way, by avoiding rejection by the immune system, the scientists hope to start universal transplantation trails, thus breathing hope into organ transplantation ideas. With growing prevalence of serious healthcare issues, many scientists are looking forward to make use of numerous new methods in the form of stem cell usage. Several companies are expanding provision of stem cell therapies provided. This factor too boosts growth in the global stem cells market.
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Less Penetration of Research in Remote Regions Hampers Growth Opportunities
However, setting up stem cell research is highly complex and may mandate companies and organizations to put extensive effort in the same. This could drag the progress achieved in the global stem cells market up to a significant extent, thereby posing as a key restraint. Moreover, enormous costs are required to conduct quality stem cell research. Until these costs are met, a minor part of the research remain unfinished. This could certainly affect the provision of appropriate steam cell treatment and organ transplants using the same. In this way, the global stem cell research market is extensively hampered owing to economic reasons. In remote and endangered regions, less availability of qualified personnel to work on stem cells is majorly responsible for thwarting the success of the global stem cells market.
Nonetheless, several players are working towards regulating operational costs of the global stem cells market. This could offset most restraints affecting the global stem cells market in the upcoming years.
Expectations Remain High For Easy Regulations from Governments The global stem cells market depicts the presence of an emerging competitive landscape. Most research based and healthcare organizations are mainly focusing on improving quality of solutions provided even it takes high costs to achieve. In addition, cost regulation is next on hand for most players in the market. However, this could mean requirement of extensive effort to increase not only the success rate of carrying out stem cell implants, but also getting favorable nods from regulatory bodies. Key companies being a part of the global stem cells market are STEMCELL Technologies Inc., U.S. Stem Cell, Inc., Takara Bio Inc., Cellular Engineering Technologies Inc., and BrainStorm Cell Therapeutics Inc., among several others.