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Description
The global stem cells market is projected to reach USD 403 million by 2027 from USD 185 million in 2020, at a CAGR of 16.9% during the forecast period owing to increase in prevalence of target chronic diseases and higher adoption of technological advancements coupled with rise in the economy and per capita expenditure are expected to drive the growth of the market. Moreover, rising investments in R&D owing to increased demand for stem cell production for potential investigation in disease management and cellular therapies are also recognized as the next major advancements in transforming healthcare. Additionally, Market players are expanding their cellular therapy portfolio understanding the future potential of the segment which fuels the growth of the market. However, expensive procedures for the development of stem cell therapies and regulatory complications restrains the growth of the market. Global stem cells market is surging due to increased approvals and strategic collaborations among the market players to strengthen their position different regions of the globe. For instance, In April 2018, Pluristem Therapeutics Inc., a developer of placenta based stem cell products announced that the U.S.FDA has cleared the emergency use of its therapy to treat acute radiation exposure in a nuclear event. In September 2017, Pluristem Therapeutics Inc. has announced that the company has issued two new patients by Hong Kong Patents Registry for its cell therapy products relating to two of the company’s leading indications, Critical Limb Ischemia (CLI) and muscle regeneration.
