Stem Cells Market To Grow At A CAGR Of 7.9%| Increasing demand for regenerative medicine augment the market growth: Growth Plus Reports
NEW YORK, Oct. 27, 2021 /PRNewswire/ --
The Global Stem Cells Market is expected to clock US$ ~24.4 billion by 2031 owing to growing number of clinical trials of stem cells for treating several chronic conditions and the technological advancement in stem cell therapeutics.
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Growth Engines
Growing influx of funding for stem cell research from different organizations is driving the growth of the stem cells market. For instance, in February 2021, Notch Therapeutics announced closing of the US$ 85 million Series A financing. With the help of these, Notch will continuing development of iPSC-derived T cell therapeutic product candidates and clinical readiness of the company's proprietary Engineered Thymic Niche (ETN) platform. Similarly, in June 2020, Sana Biotechnology Inc., a spin-off enterprise from Harvard Medical School (a cell therapy start-up) received US$ 700 million of funds. The company is dedicated to develop regenerative medicine therapies with stem cells.
The global stem cells market has been analyzed from four perspectives: Cell Source, Type, Application, and Region.
Excerpts from 'By Cell Source Segmentation'
Based on cell source, the stem cells market has been segmented into human embryonic stem cells, adult stem cells, induced pluripotent stem cells, and other types of stem cells. Adult stem cells held the largest share of the stem cell market in 2020. Major factors attributing to the growth of this segment include low chances of rejection by the body and high success rate.
Excerpts from 'By Region Segmentation'
Regionally, the global stem cells market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America held the largest share of the global stem cells market in 2020. Major factors attributing to the growth of stem cells market in this region include the availability of greater funding for stem cell research, increasing prevalence of the chronic conditions, and relatively greater adoption of regenerative medicine.
Excerpts from 'Competitive Landscape'
- Pfizer Inc.
- Osiris Therapeutics, Inc. (Smith & Nephew)
- ReNeuron Group plc
- GlaxoSmithKline plc
- Holostem Terapie Avanzate S.r.l
- Baxter
- AlloSource
- Astellas Pharma Inc
- Pluristem Therapeutics Inc
- Regen BioPharma
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