The study observed
that the global umbilical cord blood stem cell market is forecasted to reach
market value over $11.5 billion in 2014 from $ 6.5billion in 2012.Developments
and approvals for novel cord blood stem cells therapies is expected to drive the
market growth. The market is expected to reach revenue of $56.4 billion by
2020, growing at CAGR of 33.4%during 2013 to 2020.The storage service market
was valued at $7.4billion in 2013.
"Cord blood stem cell application is
increasing at faster rate than other stem cell techniques because of its
efficient and cost effective treatment process. Cord blood is assisting the
healthcare industry to discover novel therapies on chronic diseases. UCB stem
cell market is evidencing significant growth due to increasing public awareness
and government support. “state analysts.
Increase in prevalence rate of
chronic diseases such as cancer, diabetes, blood disease, immune disease,
metabolic disease etc. has increased the need of cost effective and efficient
way of treatment. However, cord blood stem cells have the potential to treat
these chronic diseases effectively. These stem cells have special property of
higher cell count in lower blood volume. Collection of these stem cells is much
easier than other stem cells and could be stored in specialized preservation
facilities called as Cord Blood Stem Cell Banks.
Cord blood stem cells market is in
its emerging phase. Significant applications of stem cells in the treatment of
various disorders will be commercialized very soon as most of them are in the
last phase of clinical trials. Patents for collection techniques and
therapeutics methods are approved by respective government of developed
countries however patents for UCB stem cells are comparatively less in
developing economies.
According to lead analyst Debbie
Shields, the geographic analysis shows that the North American market for cord
blood stem cell would account for approx. 44% of total revenue generated by the
cord blood market in 2013. However, much expected growth is to occur in
Asia-Pacific regions during the forecast period, because of growing demand for
chronic disease treatments and widely increasing awareness levels. This report
study offers updated review about major market players present in this market such
as researcher based pharmaceutical companies and therapeutics services
companies. Company profiles in this report include - Advanced Cell Technology
Inc., California Stem Cell Inc., Cytori Therapeutics Inc., Mesoblast Limited,
Opexa Therapeutics Inc.(USA), Athersys Inc., Geron Corporation, and Neostem
Inc.
Inquire about this report at: http://www.marketresearchreports.com/allied-market-research/global-stem-cell-umbilical-cord-blood-ucb-market-storage-service-therapeutics
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