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The global Cancer Stem Cell (CSC) therapeutics market size was USD 971.1 Million in 2021 and is expected to register a revenue CAGR of 9.5%.
NEW YORK CITY, NY, UNITED STATES, May 1, 2023 /einpresswire.com / -- The cancer stem cell (csc) therapeutics market revenue globally was USD 971.1 Million in 2021 and is projected to experience a CAGR of 9.5% during the forecast period. The market growth is attributed to various factors such as advancements in the biotechnology sector, surging demand for cell and gene therapies, increasing stem cell-based clinical trials, and growing support for stem cell research by public and private organizations worldwide.
The Indian government has recently funded stem cell research through organizations such as the Indian Council for Medical Research (ICMR), the Department of Biotechnology (DBT), and the Department of Science and Technology (DST), which has led to innovative facilities at over 40 prestigious health research and educational institutions in India. The market growth is also driven by the increased demand for cell and gene therapies for induced immune and blood replenishing following tumor therapies.
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Additionally, the acceptance of cancer stem cell therapy as a means of delivering anti-cancer drugs and regenerating damaged tissues and the presence of improved healthcare infrastructure, rapid urbanization and digitization, higher levels of awareness, more intensive Research and Development (R&D), and increased investments are contributing to the market revenue growth of cancer stem cell treatment.
Segments Covered in the Report –
The global cancer stem cell therapeutics market can be segmented based on different factors. In terms of type, the market is categorized into cell culturing, cell separation, cell analysis, molecular analysis, and others. Cell culturing and cell separation are used for isolating and cultivating cancer stem cells, while cell and molecular analysis is used to identify, profile, and characterize these cells.
Based on cancer type, the market is segmented into breast cancer, blood cancer, lung cancer, brain cancer, colorectal cancer, liver cancer, and others. Breast cancer and blood cancer are the most common types of cancer and are expected to have the highest revenue growth during the forecast period.
By application, the market is divided into stem cell-based cancer therapy and targeted CSC. Stem cell-based cancer therapy is a form of regenerative medicine that uses stem cells to regenerate healthy cells and tissues to treat various cancers. Targeted CSC therapy is a form of cancer treatment that uses drugs that target specific cancer stem cells, allowing for more efficient and effective treatment.
The cancer stem cell therapeutics market is driven by several factors, including advancements in the biotechnology industry, increasing clinical trials of cancer stem cell-based therapeutics, and rising public and private support of stem cell research. In addition, the market is expected to grow due to the rising global demand for cell and gene therapies. Improved healthcare infrastructure, higher levels of awareness, and increased investments in R&D are also contributing to the market's growth.
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Strategic development:
Century Therapeutics and Bristol-Myers Squibb have entered into a research cooperation and licensing agreement to create and promote up to four modified natural killer cell (iNK) and/or T cell (iT) therapies for treating hematologic malignancies and solid tumors. The collaboration aims to leverage Century's expertise in developing induced pluripotent stem cell (iPSC) derived cellular therapies and Bristol-Myers Squibb's knowledge in oncology drug development to bring innovative cancer treatments to patients.
Competitive Landscape:
The global cancer stem cells therapeutics market has a moderately consolidated competitive landscape, with a few major companies operating on global and regional levels. These companies are focused on product development and strategic alliances to expand their product portfolios and strengthen their presence in the global market. Among the major players in the market are AbbVie Inc., Aviva Systems Biology Corporation, Becton, Dickinson and Company (BD), Bionomics, Immunocellular Therapeutics, Ltd., Lonza Group AG, Merck KGaA, Novartis AG, Pfizer Inc., and STEMCELL Technologies Inc.
AbbVie Inc. is engaged in the research and development of stem cell-based therapies for cancer treatment. Aviva Systems Biology Corporation provides stem cell products and services for research purposes. Becton, Dickinson and Company (BD) is a global medical technology company that produces and sells medical devices, instrument systems, and reagents. Bionomics is a biotechnology company focused on developing stem cell-based therapies for cancer and central nervous system disorders.
Immunocellular Therapeutics, Ltd. is a clinical-stage company that develops cellular immunotherapy products for the treatment of cancer. Lonza Group AG is a Swiss multinational company that provides pharmaceutical, biotech, and specialty ingredients products and services. Merck KGaA is a German multinational pharmaceutical and life sciences company that develops and markets stem cell-based therapies for cancer.
Novartis AG is a Swiss multinational pharmaceutical company that provides innovative healthcare solutions. Pfizer Inc. is a multinational pharmaceutical company that produces and sells medications and vaccines for various diseases. STEMCELL Technologies Inc. is a Canadian biotechnology company that develops and markets stem cell-based products for research purposes.
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With ongoing R&D efforts, increasing investments, and improved healthcare infrastructure, the cancer stem cells therapeutics market is expected to continue growing and provide patients with new and innovative treatment options in the years to come.
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