Stem Cell Therapy Market Insights 2020
Increasing Awareness Related to the Stem Cells Therapy in Effective Disease Management
Stem cell research has been widely investigated globally to enhance human health in a medical setting. For this, creating public awareness about stem cell research is vital for realizing this potential. The stem cell’s main role is to replace dying cells and reconstruct damaged tissues. Based on the extensive stem cell research results, many scientists have claimed that the cells could probably generate cures and treatment for various diseases, including cancers, cardiovascular disease, and others. Newly developed stem cell therapies having the capability to replace disease, causing cells. Hence, patients now started relying on stem cell therapy that has long term positive outcomes. There is an increasing number of potential treatments that are undergoing in clinical trials phase. The FDA has approved very few stem cell therapies. For instance, in 2019, Fedratinib, approved by the FDA for the first-line treatment for fibrosis. Bone marrow transplantation is widely used stem cell based therapy. Blood forming stem cells were the first to be used in the clinic. This stem cell therapy has benefited thousands of patients who have leukemia.
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Product launches and FDA approvals strategy is commonly adopted by companies to expand their footprint worldwide and meet the growing demand. This strategy is most commonly adopted by the market players in order to expand its product portfolio.
The market players operating in the stem cell therapy market adopt the strategy of collaborations to enlarge customer base across the world, which also permits the players to maintain their brand name globally.
- Pharmicell Co., Inc.
- BioTime Inc. (Lineage Cell Therapeutics, Inc.)
- Mesoblast Limited
- Holostem Terapie Avanzate Srl
- U.S. Stem Cell, Inc.
- Caladrius Biosciences, Inc.
- TiGenix NV
The stem cell therapy market is expected to grow, owing to factors such Increasing awareness related to the stem cells therapy in effective disease management, growing demand for regenerative medicines, and growing cancer prevalence across the globe are likely to have a positive impact on the growth of the market in coming years.
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