Therapy that uses stem cells – undifferentiated human cells – to treat a range of diseases is called stem cell therapy. In recent years, the global stem cells market has grown due to several reasons. The biggest advantage of stem cells is their ability to differentiate into specialized cells of the human body.
Increasing Research Activities Motivate Global Stem Cells Market
A report published by Transparency Market Research states that the global stem cells market was valued at US$26.2 bn in 2013 and is expected to reach $119.5 bn by 2018. This growth, at a CAGR of 24.2% from 2012 to 2018, is completely attributable to the growing support from various governments in the world for clinical research and development of stem cell therapy. In addition to this, the expansion of the medical tourism industry, growing number of stem cell banking services, and high number of unmet medical needs are driving the global stem cells market. Some of the other factors improving the prospects of the global stem cells market are the increasing availability of therapeutic research activities and stem cell banking services, and rising awareness about drug discovery and screening and regenerative treatment options.
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BrainStorm Cell Therapeutics’ NurOwn Could be a Cure for ALS
Some of the important players engaged in the global stem cells market are Cellartis AB, Stemcelltechnologies Inc., Biotime Inc., Cellular Engineering Technologies, Cytori Therapeutics Inc., Bioheart, Celgene Corporation Inc., Osiris Therapeutics, California Stem Cells Inc., Angel Biotechnology, Brainstorm Cell Therapeutics, and Advanced Cell Technology Inc. Several players in the market are trying to solve chronic conditions and diseases with stem cell therapy. For instance, Brainstorm Cell Therapeutics announced that the Data and Safety Monitoring Board (DSMB) conducted the second round of its pre-planned safety review for the double-blind, randomized, placebo-controlled phase 2 clinical trial of NurOwn® for usage in the treatment of amyotrophic lateral sclerosis (ALS).
DSMB stated that Brainstorm could continue its study, as no safety concerns were found in the trial. Data collected for 47 out of 48 patients showed no adverse issues, lab abnormalities, or protocol deviations related to the trial. BrainStorm Cell Therapeutics’ NurOwn uses a technique developed by Profs. Eldad Melamed and Daniel Offen, Tel Aviv University. It relates to growing and improving stem cells taken from the patients’ own bone marrow. As these cells secrete high levels of nerve-growth factors, they protect motor neurons present in the body, thereby promoting motor neuron growth and restoring nerve-muscle interaction. Such efforts are expected to change the life expectancy of ALS patients and the whole disease management scenario for ALS in the near future.
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Currently, North America dominates the global stem cells market. Europe holds the second position with a market share of over 25% in the overall stem cell market. Though analysts predict that this market will reach newer heights in the coming years, the strict regulatory framework against the unethical harvesting of stem cells and high prices of stem cell treatments will limit the growth of this market.