Global stem cell reconstructive market - Overview
Stem cell reconstructive surgery involves the treatment of injured or damaged part of body. Stem cells are undifferentiated biological cells which can divide to produce more stem cells. The major factors contributing to the market growth includes increasing number of geriatric population, rising number of patients suffering from chronic diseases and continuous development in the technology. Furthermore, increasing need for the alternative treatments for the diseases, government support for the development of the new products and increasing healthcare expenditure has fuelled the growth of market. According to International Diabetes Federation, in 2016, it was estimated that 420 million adult population was suffering from diabetes worldwide.
These cells are unspecialized and capable of perpetuating itself through cell division. It can give rise to differentiated cells with specialized functions. Stem cells are used in the treatment of various diseases such as cancer, diabetes and others. According to American Diabetic Association, in 2012 about 29 million Americans were suffering from diabetes, this increasing patient population in this region and continuously developing technology has stimulated the growth of this market in America.
This rising patient population has simultaneously increase the demand for the new treatment and thus driven the growth of the market. However, high cost of the treatment may hinder the growth of the market.
Industry Updates
May, 2016 NuVasive launched the next generation synthetic bone graft product namely AttraX Putty in U.S. This initiative has expanded the NuVasive’s biologics product portfolio.
July, 2014 Takara Bio Inc. entered into an agreement to acquire Cellectis SA, a stem cell business firm. This acquisition expanded Takara’s stem cell product portfolio in the field of regenerative medicines.
Global Stem cell reconstructive market - Regional Analysis
Global Stem Cell Market Analysis Fact Sheet, on the basis of regions is divided into Americas, Europe, Asia Pacific and Middle East and Africa.
America accounts for the largest and the fastest growing market of stem cell reconstructive owing to large patient population and well developed healthcare sector. America stem cell reconstructive market is segmented into two major regions: North America and South America. More than 80% of the market is shared by North America owing to the presence of US and Canada. According to the National Cancer Institute (2016), around 1,685,210 new cases of cancer have been diagnosed in the United States. According to World Health Organization (WHO), 9.3% of American population is suffering from diabetes. This increasing prevalence of cancer and diabetes in America is the major driving factor for the growth of this market. Moreover, government support for research and development, well developed technology and high healthcare expenditure has fuelled the growth of the market.
Europe accounts for the second largest market which is followed by Asia Pacific. Germany and UK accounts the major share in the Europe market owing to well developed technology and healthcare sector
Asia Pacific has the developing market for stem cell reconstructive. Japan and Australia are the major contributor for the market in Asia Pacific. The global market for stem cell reconstruction has expanded rapidly with new suppliers particularly in emerging economies such as India, China and Singapore. Available treatments span the full range of medical services but most commonly include dental care, cosmetic surgery, and fertility treatment.
Middle East and Africa contribute least in the global stem cell reconstructive market.
Global Stem cell reconstructive market - Company Analysis
The stem cell reconstructive market has huge opportunities. The prominent players in the market adopt various strategies such as product launches, product innovation, and R&D investment to increase their market. Moreover, tier 1 companies employ strategies like merger, and acquisition of the competition as their developmental strategies to sustain in the market.
In Feb 2012, Baxter initiated phase III adult stem cell clinical trial for chronic cardiac condition. A company is focusing of the development of the new products and investing a huge amount of capital in research and development.
Baxter (US), Cytori Therapeutics Inc. (U.S), Eleveflow (France), Mesoblast Ltd. (Australia), NuVasive Inc. (US), Osiris (US), Micronit Microfluidics (Netherlands), Takara Bio Inc.(Japan), Tigenix (Belgium), Cynata (Australia), Celyad (Belgium), Capricor Therapeutics (Canada), Astellas Pharma US, Inc. (US), Pfizer Inc. (US), StemCells Inc (US), STEMCELL Technologies Inc. (US), Caladrius (US) and others are some of the prominent players at the forefront of competition in the global stem cell reconstructive market and are profiled in MRFR Analysis.
