New York, USA, Feb. 13, 2020 (GLOBE NEWSWIRE) -- The global cancer stem cell market is estimated to reach $ 1,722.7 million by 2026 from $786.3 million in 2018 at a CAGR of 10.3% during the forecast period, according to a report published by Research Dive. The report provides a definition of the market, segment analysis, recent developments, its primary characteristics and differentiators, and sheds light on the various aspects of the competition the market has been witnessing. The report also includes an overview of the market size, different segments of the market, scope, trends and opportunities in the market.
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Key segments of the market
The report offers an overview of the global cancer stem cell market with a precise outlook of its primary segments. The report segments the market by cancer form, application, and region.
Based on cancer form, the report divides the market into lungs, livers, breast, pancreas, brain, bladder, colon, and blood. Based on application, the report divides the market into targeted cancerous stem cells, stem cell-based cancer therapy, and others. By geography, the report bifurcates the market into North America, Europe, Asia-pacific, and LAMEA.
Major Growth Drivers
Rising prevalence of cancer all over the globe is giving significant boost to the growth of cancer stem cells market. Poor food habits, rising prevalence of deskbound work and increase in alcohol consumption among populace are the frequent reasons for the increasing number of cancer patients in the world. According to the Cancer Research UK, there were around 17 million cancer cases registered in 2018, out of which 9.6 million were fatal cases. There are many key factors that may affect the success rate of chemotherapy and a person's survival rate such as age, overall health and cancer stage.
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Restraints
Inequality issues coupled with expensive cell therapy treatments will pose a severe threat to the Cancer Stem Cells Market growth. On the other hand, according to CBC Canada, stem cell treatment for each person costs around $5,000 to $8,000. Therefore, due to economic inequalities among the population, the people from middle class and lower middle class sectors are unable to adopt this technology. Moreover, inequalities in diagnosis and treatments through stem cell treatment is significantly hampering the growth of cancer stem cells market.
Growth estimations by Segments
By cancer form, breast cancer market generated a revenue of $133.7 million in 2018, and is further projected to reach upto $295.0 million by the year of 2026. Differences in lifestyle, genetic influences of hormones and consumption of alcohol are the common reason for rising cases of cancer patients around the world.
By application segment, stem cell based cancer therapy generated a revenue of $440.3 million in 2018, and is projected to reach upto $896.9 million by the end of 2026.
North America to dominate the market
According to analyst expert, North America will dominate the global market during the projected period, owing to the rising number of cancer cases, and increasing treatments. North America market was $365.6 million in 2018, and is further projected to generate revenue of $783.8 million by 2026. In this region, U.S. and Canada are mainly heading the cancer stem cell market. The North America market is expected to grow over the forecast period due to various factors. One of the main factors is the increasing doctors’ involvement in the promotion of stem cell interventions, which are ethical, legal, and regulatory. For instance, the Canadian physicians are getting involved in promoting and providing unproven & unapproved stem cell interventions.
Top market players in Cancer Stem Cell Industry
The report highlights the major market players. They include AdnaGen GmbH, Advanced Cell Diagnostics, Inc., AVIVA Biosciences Corporation, Celula, Inc., Epic Sciences, Inc., Fluxion Biosciences, Inc., Rarecells USA, Inc. and Silicon Biosystems, S.p.A.