Allogeneic Stem Cell Therapy Market: Introduction
- Stem cells are defined as cells that have self-renewing and clonogenic capabilities. These cells can differentiate into multiple cell lineages. Stem cells are basic cells of all multicellular organisms having the potential to differentiate into a range of adult cells. Totipotency and self-renewal are characteristic of stem cells.
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- Allogeneic stem cell therapy uses cells from a donor. In the most common type of allogeneic transplant, the stem cells are acquired from a donor whose tissue type closely matches that of the patient.
- Blood taken from the placenta and umbilical cord of newborns, called cord blood, is a newer source of stem cells for allogeneic transplants. This small volume of blood has a high number of stem cells that tend to multiply quickly.
- Researchers are looking for ways to use cord blood for transplants in larger adult population. One approach is to find ways to increase the number of these cells in the lab before transplantation. Another approach is the use of cord blood from two infants for one adult transplant, called a dual-cord-blood transplant.
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Key Drivers of Global Allogeneic Stem Cell Therapy Market
- The global allogeneic stem cell therapy market is primarily driven by increase in the unmet needs in chronic diseases and rise in funding for stem cell research
- Presently, several companies are developing a range of tissue engineered products and autologous and allogeneic cell therapies with the objective of bringing about an era of regenerative medicine which is likely to come up with ways to treat people with unmet medical needs
- Rise in prevalence of chronic diseases such as cancer and cardiovascular diseases is projected to drive the global allogeneic stem cell therapy market
- According to the American Cancer Society, an estimated 1,735,350 new cancer cases were diagnosed in the U.S. in 2018
- Moreover, internationally, stem cell research is supported by significant government investments, with Asia being one of the most favorable regions. Stem cell research funding by the National Institutes of Health (NIH) increased by 17% from US$ 1.2 Bn in 2013 to US$ 1.5 Bn in 2016.
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Adult Stem Cell Segment Accounted for Major Share of Global Allogeneic Stem Cell Therapy Market
- In terms of product type, the global allogeneic stem cell therapy market can be divided into adult stem cells, human embryonic stem cells, induced pluripotent stem cells, and others
- The adult stem cells segment is anticipated to dominate the global allogeneic stem cell therapy market during the forecast period
- The ability to create trillions of specialized cells is one of the advantages of adult stem cells. These cells could reduce the risk of rejection and repair tissue damage. These factors drive the segment.
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Therapeutics Companies Segment to Offer Attractive Opportunities
- Based on end-user, the global allogeneic stem cell therapy market can be classified into therapeutics companies, cell & tissue banks, tools & reagents companies, and service companies
- The therapeutics companies segment is expected to account for major share of the global allogeneic stem cell therapy market by 2027
- Rise in prevalence of chronic diseases and increase in investment by pharmaceutical & biopharmaceutical companies for stem cell research are the key factors boosting the growth of the therapeutics companies segment
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North America to Dominate Global Allogeneic Stem Cell Therapy Market
- In terms of region, the global allogeneic stem cell therapy market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to dominate the global market during the forecast period.
- Improved investment scenario, high economic growth, rise in prevalence of target chronic diseases, and technological advancements in the region are the key factors driving the allogeneic stem cell therapy market in North America
- According to the American Cancer Society, around 1,735,350 new cancer cases were diagnosed in the U.S. in 2018, with 609,640 deaths caused by the disease
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