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.
For
Market Research Report on “Stem Cells Market” Visit: http://www.grandviewresearch.com/industry-analysis/stem-cells-market
Further key findings from the study
suggest:
- 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
- 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.
- 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.
- 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
- Key industry participants include BioTime Inc., Advanced Cell Technology Inc., Cellular Engineering Technologies Inc., STEMCELL Technologies Inc., and Cellartis AB
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:
About Grand View
Research
Grand View Research, Inc. is a U.S. based market research and
consulting company, registered in the State of California and headquartered in
San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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Grand View Research, Inc.
United States
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sales@grandviewresearch.com
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