Albany, New York (PRWEB) August 02, 2013
According to a new market report published by Transparency Market Research "Stem Cells Market (Adult, Human Embryonic , Induced Pluripotent, Rat-Neural, Umbilical Cord, Cell Production, Cell Acquisition, Expansion, Sub-Culture)- Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018," the market for stem cells was valued at USD 26.23 billion in 2011 and is expected to reach an estimated value of USD 119.51 billion in 2018, growing at a CAGR of 24.2% from 2012 to 2018.
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The market growth is majorly attributed to therapeutic research activities led by government support worldwide owing to the growing number of patients with chronic diseases across the globe. In addition, rising awareness of regenerative treatment options and growing importance of stem cell banking services are also fostering the growth of the market. Apart from these, development of medical tourism hubs in developing nations such as India and China and in turn migration of patients from developed nations such as the U.S., and Europe for quality treatment at significantly lower prices will also serve the market as a driver especially for the Asian stem cells market.
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Stem cells market will be driven by rising proportion of patients with neurological and other chronic conditions and rising disposable incomes of patients induced by economic growth of Asian regions in the next five years In addition, increasing dependence on stem cells for drug discovery and screening will boost the growth of the market in future. Increased outsourcing of contract research and clinical trials to developing Asian regions will further encourage growth of the stem cells market.
Adult stem cells held majority share of the overall stem cells market in 2011 at over 80%. This is due to less laborious procedure of harvesting, and less probability of contamination during expansion and sub-culture of adult stem cells. However, fewer post-transplant complications and lesser risk of graft vs. host reaction from the recently introduced induced pluripotent stem cells will lead to its rapid inclusion in research activities and help the global induced pluripotent stem cells market to grow at a relatively faster CAGR during the forecast period.
Browse the full report with TOC at http://www.transparencymarketresearch.com/stem-cells-market.html.
Regenerative medicine dominated the stem cells market by applications in 2011, and is expected to maintain its leading position till 2018. Considerable research activities and the resultant developed therapies in neurology will drive the stem cells market in the forecast period.
North America was the market leader of the total stem cells market in 2011 and is expected to maintain its leading position till 2018. North American market is a center for stem cells research owing to greater support offered by federal government, and higher affordability of treatment in the region.
High prevalence of chronic diseases in the region and support in terms of funding from government and private organizations is driving the European stem cells market.
The key players in stem cell research and technology include Advanced Cell Technology Inc., Stem Cell Technologies Inc., Cellular Engineering Technologies Inc., BioTime Inc., and Cellartis Ab among others.
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