New York, USA, Dec. 08, 2020 (GLOBE NEWSWIRE) -- The cancer stem cells market is anticipated to grow rapidly in the Covid-19 outbreak due to usage of cancer stem cells for treating cancer. According to a report published by Research Dive, the cancer stem cells market is expected to cross a margin of $1,898.3 million, from a market size of $786.3 million in the year 2018, with significant CAGR of 11.8% during 2019-2026.
This report consists of in-depth viewpoints of the effects of COVID-19 crises on the future and current evolution of the industry worldwide. This is carried out by analyzing significant facets such as limitations, drivers, newest trends, size and scope, advances, and the position of the regional markets during the pandemic phase. The report also mentions that the COVID-19 pandemic has positively impacted the market conditions.
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Aspects Affecting the CAGR Figures in Pre and Post Covid-19 Situation
Market forecasts before the Covid-19 outbreak suggest that CAGR stood at 10.3% and according to 2020 estimates the market is predicted to reach CAGR of 11.8%.
The growth in the market is due to the utilization of cancer stem cells for treating cancer that is diagnosed in metastatic stage. Moreover, rise in morbidity and mortality rate is also driving the market forward.
Factors Affecting the Revenue in Pre and Post Covid-19 Period
The cancer stem cells market is predicted to garner a revenue of $982.5 million in 2020, from an estimated market size of $956.6 million as anticipated before the Covid-19 outbreak.
Investments by government authorities for cell-based research are considered to propel the market growth. In addition, increase in R&D and personalized medication for treating various types of cancers by utilizing cell-based therapies will enhance the market growth. All these factors are responsible for the growth of the market.
Future Scope of the Market
This market will grow due to heavy investments in research and development fields that focus mainly on therapeutic effects on stem cells for stem cell banking and disease treatment. Moreover, PSC (pluri-potent stem cells) development for generating different germ cell layers is also projected to propel the market growth. The cancer stem cells market will rise significantly in the future due to the above stated reasons.
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Some of the well-known market players of the cancer stem cells market are -
- AbbVie Inc.
- Merck KGaA
- Irvine Scientific
- MiltenyiBiotec
- Stem Cell Technologies Inc.
- Thermo Fisher Scientific Inc.
- Sino Biological Inc.
- OncoMed Pharmaceuticals
- BioTime Inc.
Further, the report presents and outlines several aspects of these key players such as SWOT analysis, business performance, recent strategic moves & developments, and product portfolio. Quick Download Top Companies Development Strategies Summary Report
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