WELLESLEY, Mass., Jan. 17, 2018 (GLOBE NEWSWIRE) --
Cancer stem cells have been found in a range of human tumors and are potential targets for cancer treatment. The global cancer stem cell market has the potential to reach $1.9 billion by 2022 at a compound annual growth rate (CAGR) of 21.2%, according to BCC Research.
Cancer stem cells have the ability to produce all cell types found in a single type of cancer. Cancer stem cells are believed to occur in tumors as a distinct population and produce new tumors by relapse and metastasis. Development of therapies that target cancer stem cells holds hope for improvement in survival and quality of life of patients with cancer. From a market worth an estimated $745 million in 2017, global expansion of cancer stem cell research is predicted, according to the report Cancer Stem Cells: Technologies and Global Markets.
By type, the cancer stem cells market is segmented by lung cancer, breast cancer, colorectal cancer, leukemia, melanoma, prostate cancer, brain cancer, bone cancer and other types of cancer.
Research Highlights
- Leukemia is the biggest contributor to market growth. However, brain cancer is expected to be the fastest-growing segment by type.
- By region, North America held the largest market share in 2016 and is forecast to expand at a CAGR of 17.6%.
- Asia-Pacific is projected to grow the fastest, at a CAGR of 25.0%. The majority of markets in the Asia-Pacific and Rest of World regions are untapped.
“The rising incidence of cancer worldwide has increased the need for a reliable and effective therapy that will completely eliminate cancer cells and reduce the risk of relapse or metastasis,” said Robert G. Hunter, BCC Research senior editor, healthcare. “Thus, there is an uptick in cancer research and funding for the advancement of technology.”
Ethical Issues and High Costs
The rise in R&D activities will help to improve researchers’ knowledge of cancer stem cells and how these can be used as targets to improve the efficiency of conventional cancer therapies. However, ethical issues related to stem cells and high costs of cancer stem cell therapeutics could hamper market growth. Success in preclinical trials will help to open new avenues.
Editors/reporters requesting analyst interviews should contact steven.cumming@bccresearch.com.
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About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.