Seattle, Jan. 25, 2019 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global stem cell cartilage regeneration market was valued at US$ 254.4 million in 2017, and is projected to exhibit a CAGR of 8.9% over the forecast period (2018–2026).
Key Trends and Analysis of the Stem Cell Cartilage Regeneration Market:
Growing osteoarthritis incidence among the global population and increasing adoption of minimally invasive surgery procedures is in turn expected to boost the stem cell based cartilage regeneration market. For instance, according to November 2017, Arthritis Foundation data findings, with the increase in global geriatric population, degenerative disease disorders such as osteoarthritis will impact at least 130 million individuals around the globe by 2050.
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Moreover, research and development (R&D) activities by key players are focused to address issues such as ensuring optimal and stable chondrogenic cellular phenotype and cartilage matrix production, preventing matrix and cellular degradation, promoting appropriate cartilage integration, and delivering antioxidant and anti-inflammatory factors to provide durable cartilage constructs.
For instance, in January 2018, a group of researchers at Osaka University developed a synthetic tissue using synovium-derived mesenchymal stem cells (MSCs) for treating damaged cartilage, which had previously been incurable and had no effective therapies. Following the first in-human clinical trial at Osaka University Hospital, the surgery of the first patient was performed in the Phase III clinical study to confirm efficacy and safety of this therapy.
Growing engagement of various key players in developing stem cell therapy as commercially viable, safe, efficient, and less expensive therapeutic agent for cartilage regeneration is expected to drive the global stem cell cartilage regeneration market growth. Various key players in the market are also increasingly engaged in clinical trial studies and development of new therapies such as generation of cartilage repair from patient’s own stem cell. Application of stem cell therapy for orthopedic procedures is being studied to increase its efficacy and safety. In December, Orthocell commenced treatment of its 1,000th patient, in its TGA licensed manufacturing facility using the company’s proprietary tissue engineering process.
Companies are also focusing on strategic collaborations in order to maintain competitive edge in the market. For instance, in March 2015, Fujifilm Holding Corporation acquired Cellular Dynamics International, Inc. (CDI). CDI’s technology platform enables the production of high-quality fully functioning human cells, including induced pluripotent stem cells (iPSCs), on an industrial scale, which will help the Fujifilm Holding Corporation to strengthen its position in this segment. In December 2017, Xintela signed a collaboration agreement with CellSeed, a Japan-based cell therapy company, for development of its cell therapy product for the treatment of cartilage damage in knee joint.
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Key Market Takeaways:
- The global stem cell cartilage regeneration market is expected to exhibit CAGR of 8.9% during the forecast period (2018–2026). The factors impacting growth of stem cell cartilage regeneration market include increasing adoption of minimally invasive surgery procedures.
- Increased funding by governments and private sector and growing industry focus on induced pluripotent stem cells and related research are major factors driving growth of the market. For instance, according to the NIH’s Estimate of Funding for Various Research, Condition and Disease Categories (RCDC), human embryonic stem cell research received fund of US$ 1.48 billion from 2009 till 2017.
- Key players operating in the global stem cell cartilage regeneration market include Theracell Advanced Biotechnology Ltd., Orthocell Ltd., Xintela AB, CellGenix GmbH, Merck KGaA, Osiris Therapeutics, Inc., BioTissue SA, and Vericel Corporation.
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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.