Stem cell therapy market is projected to surge owing to increasing government spending on research activities aimed at development of stem cell therapy for treatment of life-threatening diseases. Stem cell therapy, also known as regenerative medicine, promotes repair response of dysfunctional, diseased, or injured tissue using derivatives of stem cells. Researchers are examining different aspects of stem cell therapy for its applications in neurological disorders and other diseases.
Increasing research and development of personalized medicines and novel therapies coupled with favorable government initiatives will positively impact stem cell therapy industry growth. Governments across nations are ensuring that academic centers and laboratories for research are well-equipped with advanced devices and necessary equipment for facilitating the stem cell therapy research processes.
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How will prevalence of chronic diseases fuel stem cell therapy market growth?
Growing prevalence of chronic diseases owing to genetic disorders and unhealthy lifestyle adoption among masses will positively impact stem cell therapy market outlook. Stem cell therapy offers various benefits over conventional therapeutic methods, which makes it preferable for curing degenerative cell disorders. For instance, researchers are extensively seeking to regenerate healthy heart cells from placenta to treat patients after myocardial infarction. Advancing researches in stem cell therapy offer better prospects for curing cardiovascular diseases and minimizing mortality rates.
Geriatric population is susceptible to degenerative diseases such as Alzheimer’s and Parkinson’s disorders. Recent stem cell therapies aid production of healthy cells by replacing the defective cells via minimally invasive techniques. Geriatric population will come to heavily rely on stem cell therapies and hence add impetus to stem cell therapy market trend for expansion.
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How does the application of stem cell therapy in orthopedic segment gain traction?
Stem cell therapy is gaining popularity owing to application in treatment of bone-joint injuries, which may include fractured bones and spinal defects, femoral head, osteogenesis imperfecta and ligament tendon. To cure orthopedic diseases such as osteoporosis and arthritis, mesenchymal stem cell therapy is gaining traction due to its ability to differentiate into cartilage and bone.
With rise in accidents and trauma cases that are being registered across the globe, stem cell therapy industry is estimated to garner considerable proceeds from orthopedic segment. Over the forecast timeline, orthopedic segment is projected to witness growth of more than 9%.
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How will APAC stem cell therapy market trend contribute to the overall growth of the industry?
Rising government initiatives for promoting stem cell therapy in developing countries will propel stem cell therapy industry growth in the APAC region. Governments across developing countries are encouraging researchers and scientists to carry out studies to advance stem cell therapies in order to develop innovative solutions for treating chronic diseases. Moreover, many countries in the region are being backed by government funds to establish stem cell centers. For instance, Biopolis, a biomedical research center for stem cell research has been established by Singapore JTC Corporation. Such government initiatives in Asian countries are estimated to expand stem cell therapy market share. In 2018, APAC stem cell therapy market held around 20% revenue garnered by the global stem cell therapy market.
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