New York, May 14, 2020 (GLOBE NEWSWIRE) — The global Cancer Stem Cells market is forecast to reach USD 2.18 Billion by 2027, according to a new report by Reports and Data. The market for stem cells for cancer is experiencing increased growth due to the rising number of clinical trials globally. Stem cells are used in regenerative medicine, particularly in the field of dermatology. However, its applications in oncology will witness higher growth rate due to a large number of ongoing pipeline projects for the treatment of cancer or tumors.
Cancer has rapidly grown in the coming years. According to the World Health Organization, there were 18.1 million new cases in 2018 and 9.6 million deaths in that very year. The cancer research UK has stated that the population suffering from cancer is expected to grow in the future. It is predicted that there will be 27.5 million new cases each year globally by the year 2040.
Stem cell transplant is a method that uses restored blood-forming stem cells in patients who have had theirs destroyed by the high dosage of radiation or chemotherapy. Embryonic stem cells are the major source of stem cells for therapeutic purposes, owing to their indefinite lifespan and high totipotency. These benefits are expected to propel the demand for the market in the coming years.
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The COVID-19 impact:
The market will witness a surge as biopharmaceutical innovators are in the front line for the human response to the global COVID-19 pandemic. A significant number of biotech firms are in the middle of the race to investigate the virus’s genome and are preparing a viable vaccine. These companies are investigating the virus at an unprecedented rate, and considerable funds are being put into the research. The companies are in trial, and the public and private sectors are working continuously for the development of the vaccine. The cancer stem cells market will grow as public and private organizations are investing more in research.
Further key findings from the report suggest
- Allogeneic Stem Cell Transplant held the largest market share. The market has an advantage as they produce their own immune stem cells, which has the potential to kill cancer cells that remain after high-dose treatment with cytotoxic drugs. Allogeneic transplant is recommended for patients with a high risk of relapse after successful treatment of chemotherapy. An increase in the case of cancer relapse has fueled the demand for the segment.
- The rise in the number of people suffering from lung cancer is one of the major factors driving the market growth. The risk factors such as air pollution, cigarette smoking, passive smoking, and occupational exposure are increasing the incidence of the disease globally.
- North America is expected to account for a significant share of the global cancer stem cell market. The United States will be the primary contributor and is likely to witness high growth due to the huge amount of funding by the government and private firms for clinical trials.
- Key participants include AbbVie, Inc., Bionomics, Thermo Fisher Scientific, Inc., Merck KGaA, LONZA, Miltenyi Biotec, Stemline Therapeutics, Inc., PromoCell GmbH, Irvine Scientific, and MacroGenics, Inc., among others.
- Launch of innovative novel drugs for the treatment of advanced cancer stem cells is supporting the growth during the forecast period. In October 2017, Gilead was approved by the FDA for the production of its Yescarta, which is used in the treatment of people who have relapsed large B-cell lymphoma.
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For the purpose of this report, Reports and Data have segmented the global Cancer Stem Cells market on the basis of treatment type, end-user, disease type, and region:
Treatment Type Outlook (Revenue, USD Billion; 2017-2027)
- Allogeneic Stem Cell Transplants
- Autologous Stem Cell Transplants
- Syngeneic Stem Cell Transplants
Disease Type Outlook (Revenue, USD Billion; 2017-2027)
- Blood Cancer
- Lung Cancer
- Breast Cancer
- Brain Cancer
- Liver Cancer
- Colorectal Cancer
- Bladder Cancer
- Pancreatic Cancer
- Others
End-User Outlook (Revenue, USD Billion; 2017-2027)
- Hospitals and Surgical Centers
- Cell Banks and Tissue Banks
- Academic Institutes, Research Laboratories, and CROs
- Pharmaceutical and Biotech Companies
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/cancer-stem-cells-market
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Europe
- Asia Pacific
- MEA
- Latin America
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