Stem cells are special human cells that can develop into several different cell types, from brain cells to muscle cells, and could also be used to repair damaged tissue in some cases. Stem cell therapy, on the other hand, is also called regenerative medicine and makes use of stem cells to prevent or treat a disease or chronic condition.
The success of regenerative medicine and the exponential growth of stem cell-based research are the primary factors that are expected to boost the global stem cells market outlook in the coming years. Moreover, the high incidence of infectious diseases, increasing demand for vaccine development, global awareness about the miraculous effects of stem cell therapy, ongoing R & D to expand the application potential, are projected to supporting the penetration of regenerative medicines, thereby driving the Stem Cells Market growth over 2020-2026.
In terms of product-market segmentation, the adult stem cells segment occupies the highest revenue share in the global stem cell market due to low-risk factors that do not interfere with human body compatibility. Also, these type of stem cells can be efficiently produced with subcultures and has minimal production labor requirements. Reliable sources estimate that The iPS segment is expected to record the fastest growth rate in the next decade due to its high potential for utilization in the development of advanced medicines. Besides, the implementation of iPS cells to identify the genetic link between patients and disease for customized treatment will further support the segmental expansion, eventually accelerating the stem cells market trends in the upcoming period.
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In terms of applications, the Regenerative Medicine segment dominates the overall stem cells market share due to ongoing developments to explore treatment potentials and increased adoption of personalized medicine for chronic diseases. Herein, the Neurology was the most profitable regenerative medicine segment due to the significant presence of FDA-approved products to treat challenging disorders such as Alzheimer's disease and Parkinson's disease. Neurological conditions are usually hard to treat, but neurodegenerative medicines have shown significant potentials in treating these diseases which are expected to drive segmental growth during the forecast period.
The North American region holds a majority of global stem cells market share due to high investments in R&Ds for cytological research. Other factors contributing to regional growth are extensive government funding and the presence of major biotech companies in the region. The Asia-Pacific stem cells market is also expected to grow at an exponential pace with rising awareness about safe and alternative treatment alternatives and the presence of a significant stem-cell-based therapeutic product portfolio.