The global stem cell therapy market is expected to reach $330 million by 2020, at a CAGR of 39.5% from 2015 to 2020.
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A number of factors such as increasing funding from government and private organizations, growing industry focus on stem cell research, and increasing global awareness about stem cell therapies through various organizations are driving the growth of the global market. Furthermore, increasing funding for new stem cell lines, development of advanced genomic methods for stem cell analysis, and rising approvals of clinical trials for stem cells therapy are other factors that are propelling the growth of the market.
In addition, increasing stem cell researches in developing markets, emergence of the induced pluripotent stem (iPS) cells as an alternative to ESCs, and the evolution of novel stem cell therapies unfolds new avenues for the growth of this market.
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Based on geography, the market is divided into North America, Asia-Pacific, Europe, and the Rest of the World (RoW). In 2015, North America is expected to hold the largest share in the global market, followed by Asia-Pacific, Europe, and the RoW (Rest of the World). The Asia-Pacific region is estimated to grow at the highest CAGR in the forecast period, owing to factors such as presence of huge patient population base, increasing regulatory support through favorable government policies, strong product pipelines of stem cell therapies, and rising licensing activities.
Major players such as Mesoblast Ltd. (Australia), Aastrom Biosciences Inc. (U.S.), Celgene Corporation (U.S.), and StemCells, Inc.(U.S.) are adopting several growth strategies such as new product approvals, partnerships, agreements, collaborations, joint ventures, mergers, and acquisitions in order to keep pace with the evolving industry trends.
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