New York, USA, Aug. 02, 2021 (GLOBE NEWSWIRE) -- A recently published report by Research Dive states that the global cancer stem cells market is expected to witness a rise in revenue from $786.3 million in 2018 to over $1,722.7 million by 2026 rising at a steady CAGR of 10.3%from 2019-2026.
Market Analysis
The rising cases of different variants of cancer among people have been the primary reason for the growth of the global cancer cells market. There have been several efforts by organizations to reduce the number of cancer deaths and cases among people. Many public and private organizations have been ensuring an increase in efficiency in the process of cancer treatments. In one such effort, the Indian Council of Medical Research (ICMR) in partnership with the Department of Biotechnology (DBT) has been working on research and development. There have also been initiatives to ensure that the regulatory processes are standardized. This will help in providing a decision about the effectiveness of a certain treatment method. To add further, the Indian Journal of Medical Research also provided an insight into a new method of using stem cells. This technique helps men and women who have been through multiple cancer treatments regain their fertility which has proved to be a dominant factor in the growth of the global cancer stem cells market.
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On the contrary, the uneconomical price of the stem cell treatment is one of the foremost factors restraining the growth of the market. As per the CBC Canada, the standard cost for these treatment range from $5000-$8000. To add further, a majority of the population belonging to the middle and lower classes is unable to avail any advanced treatment or technology due to economic limitations. These factors are responsible for hindrance in the growth of the market.
Segmental Analysis
The market is segregated into multiple segments based on- cancer form, application, and region.
Breast Cancer Sub- segment to Experience Swift Revenue Growth
By cancer form, the breast cancer sub-segment is expected to garner revenue of $295.0 million by 2026, rising from $133.7 million in 2018 in the estimates time frame. This growth is due to the various changes in lifestyle among people along with genetic factors being one of the primary causes for people being diagnosed with cancer. Also, consumption of certain harmful substances such as alcohol and hormones could further contribute to the prevalence of cancer among them, leading to the growth of the sub-segment.
Stem Cell Based Cancer Therapy Sub-segment to Gain Highest Market Share
By application, the stem cell based cancer therapy sub-segment is predicted to witness a tremendous rise in revenue from $440.3 million in 2018 to over $896.9 million by 2026 from 2019-2026. One of the methods of stem cell therapy known as Allogenic HSCT (Hematopoietic Stem Cell Transplantation) is stated to be more effective in the treatment of breast cancer. This technique involves cancer free grafts as well as immune-mediated GvT (Graft vsTumor) which ensure the effects are transmitted through the cells provided by a donor. This is expected to further propagate the growth of the segment.
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Regional Analysis
As per the report, the North America region is set to dominate in the global market and expected to generate a revenue of $783.8 million by 2026, rising from $365.6 million in 2018 in the forecast period. The U.S and Canadian industries have been leading several initiatives in the cancer stem cells market. To add further, doctors’ giving their patients the suggestion to opt for stem cell therapy and in turn promoting its use has added to the growth of the market in the region. The fact that the therapy is also legal, ethical and also regulated makes it one of the primary choices by doctors for diagnosis of patients.
Cancer Stem Cells Market Major Key Participants are-
The report contains a list of notable market players who have been ensuring the constant growth of the market. They are as listed below:
- AdnaGen GmbH
- AVIVA Cell Diagnostics, Inc
- Epic Sciences, Inc
- Rarecells USA, Inc
- Advanced Cell Diagnostics, Inc
- Celula, Inc
- Fluxion Biosciences, Inc
- Silicon Biosystems, S.p.A
The report also provides an overview of many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments. For instance, in February 2021, Menarini Silicon Biosystems, an expert in liquid biopsy as well as single cell technologies, launched a new product line termed as Cell Mag. This innovative technique can be used for manual enrichment as well as staining of rare circulatingtumour cells (CTCs). The technology is extremely simple and also provided a trustworthy tool that can help researchers work efficiently on translational projects. These involve the studying the heterogeneous biology of CTCs which are the main reason responsible for a lack in the accuracy of the prognosis of metastatic carcinomas.
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