(MENAFN- PR Newswire)
SANTO DOMINGO, Dominican Republic, July 13, 2022 /PRNewswire/ -- The cancer stem cells market growth is driven by several factors, such rise in prevalence of cancer cases globally which has increased the funding for stem cell research and cancer research therapy & development.
Cancer Stem cells Market by Cancer Type (Blood Cancer, Breast Cancer, Colorectal Cancer, Lung Cancer, Liver Cancer, Brain Cancer, Others), by Mode of Action (Stem Cell-Based Cancer Therapy, Targeted Cancerous Stem Cells (CSCs), by End User (Hospitals, Specialized Cancer Treatment Centers, Research Institutes, Others): Global Opportunity Analysis and Industry Forecast, 2029-2029.' According to the report, the global cancer stem cells market generated USD million in 2021, and is expected to reach USD million by 2029, witnessing a CAGR of 15% from 2022 to 2029.
Drivers, Restraints, and Opportunities
The factors driving the growth of the global cancer stem cells market are increasing funding for stem cell research and cancer and the growing anti-CSCs therapeutics pipeline. However, clinical concerns relating to stem cell therapy development and implementation is one major factor expected to hinder the market growth. Contrarily, the rising applications of cancer stem cells and increasing research is expected to create large opportunities in the forecast period.
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- COVID-19 has impacted several industries, including the cancer stem cell market.
- Stem cell therapies, and more recently, their released extracellular vesicles (EVs), are emerging as novel promising treatments that may reduce inflammation while also repairing COVID-19-induced lung damage.
- There are currently 17 clinical trials examining MSCs for the treatment of COVID-19, the majority of which are administered intravenously, with just one experiment testing MSC-derived exosomes by inhalation.
The stem cell-based cancer therapy segment to continue its dominant share during the forecast period
Based on mode of action, the stem cell-based cancer therapy segment contributed to the highest market share in 2021, accounting for more than XX% of the global cancer stem cells market, and is estimated to continue its dominant share during the forecast period. Stem cell transplants are treatments that help people who have had their blood-forming stem cells destroyed by heavy doses of chemotherapy or radiation therapy used to treat certain cancers. The stem cell-based cancer therapy is further segmented into autologous SC transplants and allogeneic transplants. People who require severe doses of chemotherapy and radiation to cure their conditions frequently have autologous stem cell transplants. Hence, the demand for stem cell therapies is expected to drive market growth.
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Based on the end user, hospitals is dominating segment in the global cancer stem cells market
The hospital segment held the highest share in 2021, and is projected to maintain its leadership status by 2029. The growth of this segment is attributed to several factors such as, as hospitals provide with maximum health insurance facilities and are a most trusted resource for treatment and also growing adoption of minimally invasive surgical procedures and also equipped with advanced infrastructure and adequate facilities for the treatment of various cancer types.
The North America region is expected to hold the largest market share in the global cancer stem cells market
Based on region, North America contributed to the highest market share in terms of revenue in 2021 and is estimated to dominate by 2029. This is attributed to rising prevalence of cancer and growing R&D. For instance, as per the CDC, there were about 1,752,735 new cancer cases were reported in 2019 and 599,589 cancer deaths in the United States. In addition, several major companies in this region are contributing to the growth of the market, such as Thermo Fisher Scientific, Inc., AbbVie, Inc., Stemline Therapeutics, Inc, STEMCELL Technologies Inc, among others.
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Leading Market Players
- Merck KGaA
- Thermo Fisher Scientific, Inc.
- AbbVie, Inc.
- Stemline Therapeutics, Inc
- PromoCell GmbH
- Miltenyi Biotec
- STEMCELL Technologies Inc
- BIOTIME, Inc
Modernization of healthcare in terms of both infrastructure and services have pushed the healthcare industry to new heights, Stay Updated with Latest Healthcare Industry Research Reports by DataM Intelligence: Cancer Stem Cell Therapy Market : The global cancer stem cell therapy market is set to chart a compound annual growth rate (CAGR) of CAGR of 15.8% from 2022 to 2029. This will translate to a higher market share over the period – from 2021 to 2029 Allogeneic Stem Cells Market : The global allogeneic stem cells market is expected to reach the value of USD Mn by the end of 2029. It is estimated to expand at a CAGR of 12.04% from 2022 to 2029. Autologous Stem Cell and Non-Stem Cell Based Therapies Market : The global autologous stem cell and non-stem cell based therapies market was valued at USD Mn in 2021 and is projected to expand at a CAGR of 4.25% from 2022 to 2029 to reach USD Mn by 2029. Stem Cell Therapies Market : The global depth of stem cell therapies market is anticipated to reach USD by the end of 2029. It is projected to grow at a CAGR of 9.5% from 2022 to 2029. Stem Cell Therapy for Diabetes and Related Conditions Market : The global stem cell therapy for diabetes and related conditions market is estimated to grow at a CAGR 18% during the forecast period (2022-2029) to reach USD Mn by 2029. Stem Cell Banking Market : The global stem cell banking market size was valued USD million in 2021 and is estimated to reach USD million by 2029, growing at a CAGR of 16% during the forecast period (2022-2029). Induced Pluripotent Stem Cell (iPS Cell) Market : The global induced pluripotent stem cell (iPS Cell) market is expected to reach the value of USD Mn by the end of 2029. It is estimated to expand at a CAGR of 9.9% from 2022 to 2029. Cell Culture Market : The global cell culture market size was valued at USD -- Mn in 2021 and is estimated to reach USD Mn by 2029, growing at a CAGR of 8% during the forecast period 2022-2029. Cell & Gene Therapy Manufacturing Services Market : The global cell & gene therapy manufacturing services market was valued at USD Mn in 2018 and is anticipated to expand at a CAGR of 15% from 2022 to 2029. Animal Stem Cell Therapy Market : The global animal stem cell therapy market is anticipated to expand at a revenue CAGR of 5% during 2022-2029. The global miRNA tools and services market is expected to reach USD Mn by 2029.
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