Albany, NY (PRWEB) August 19, 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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The 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 d
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