Albany - NY, Oct. 20, 2015 (GLOBE NEWSWIRE) -- A recently released report from Transparency Market Research (TMR) forecasts that the global stem cells market will grow at a remarkable CAGR of 24.2% from 2012 to 2018. According to TMR, a market intelligence firm, the global stem cells market, which in 2013 stood at US$26.23 bn, is anticipated to reach US$119.52 bn by the end of the forecast period. The report, titled 'Stem Cells Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018', is available for sale on the company website.
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According to this market research report, the main factors driving the global stem cells market are the growing ubiquity of stem cells banking services, growing trend of medical tourism, greater government support, and unmet medical needs. Undifferentiated cells that have the capacity to differentiate into any cell type of the human body are known as stem cells. These cells produce cells of the non-regenerative variety. The rising presence of therapeutic research activities is another key factor that fuels the global stem cells market. Government support is mainly directed towards clinical research and development of stem cells. Increased awareness about drug discovery and screening, stem cell banking services, and regenerative treatment options is expected to fuel the demand from the global stem cells market.
The TMR report segments the global stem cells market on the basis of product, technology, application, and geography. On the basis of product type, this market is categorized into adult stem cells, human embryonic stem cells, induced pluripotent stem cells, rat neural stem cells, and very small embryonic-like stem cells. The adult stem cells segment holds the highest share in the global stem cells market because of the less tedious procedure of harvesting adult stem cell and greater acceptance of the same in the human body. The segment of adult stem cells is further categorized into umbilical cord stem cells, dental stem cells, neuronal stem cells, mesenchymal stem cells, and hematopoietic stem cells.
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On the basis of technology, the global stem cells market is segmented into culture, isolation, in-vitro fertilization, cryopreservation, and expansion and sub-culture. Application-wise, the global stem cells market is segmented into neurology, orthopedics, oncology, hematology, cardiovascular and myocardial infarction, wound care, spinal cord injuries, diabetes, liver disorders, incontinence, and others. Another prominent application segment of the global stem cells market is drug discovery and development. The application segment of regenerative medicine holds the highest share in the overall stem cells market.
Geographically, the global stem cells market is segmented into Asia, North America, Europe, and Rest of the World. In 2011, the global stem cells market was dominated by North America, followed by Europe, which held a market share of more than 25% of the total market share. Stringent regulations against the unethical harvesting of stem cells and the high cost of treatment are the two main factors that inhibit the growth of the global stem cells market. The report profiles the following companies in the global stem cells market: Stemcelltechnologies Inc., Osiris Therapeutics, Biotime Inc., Cytori Therapeutics Inc., Cellular Engineering Technologies, Cellartis AB, Celgene Corporation Inc., California Stem Cells Inc., Brainstorm Cell Therapeutics, Angel Biotechnology, Bioheart, and Advanced Cell Technology Inc., amongst others.
Major geographies analyzed under this research report are:
- North America
- Rest of the World
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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Source:Transparency Market Research