Stem cells market to grow 23% by 2021
The global stem cells market is forecast to grow at a compound annual growth rate (CAGR) of 23 percent between 2015 and 2021, according to the Global Stem Cells Market 2015 – 2021 report, which is now available from market research store Research and Markets.
According to the report, the global stem cells market is driven by a number of factors, including the increasing incidence of cancer and cancer-related diseases, the rising number of research and development programs, increasing awareness of regenerative treatment and increased use of biomarkers – a measurable indicator of a biological state or condition – and growth in the biopsy market.
High prevalence of cancer in children is also key to driving stem cell study, and the number of stem cell banks, which store stem cells to ensure a perfect match and avoid the body rejecting donated cells should the depositor require stem cell treatment, increased exponentially.
There are different methods of harvesting stem cells for storage, but the only non-invasive and pain-free method is through a naturally shed tooth. While stem cells can be taken from adult teeth extracted for orthodontic purposes, the best stem cells are those taken from baby teeth, as the quality of these will not have been compromised by ageing or pollution.
Growing awareness among both professionals and the public in countries such as China and India is also playing a key role in driving the global stem cells market, with China and other emerging countries offering stem cell therapies and services more cheaply, leading to stem cells medical tourism.
North America has the largest share of the global stem cells market, according to the report, followed by Europe and Asia Pacific, with the latter expected to experience the highest growth rate between 2015 and 2021.