The market is one of the most rapidly growing markets. The market is currently valued at USD14 billion and is expected to grow at a CAGR of 13.7% over the forecast period. The CAGR of the developed countries is expected to be comparatively less than the emerging markets such as India and China, as recent developments such as a lenient regulatory framework and a very much large diseased population have made them an excellent prospect.
Global Stem Cell Services Market- Market Dynamics
Stem cell research is one of the most exciting areas of science in the 21st century and has the potential to revolutionize the way we treat conditions, including degenerative diseases for which few effective treatments currently exist. Researchers, governments, and the general public have high expectations from this field and they hope that this research will one day produce great results that might cure diseases such as Parkinson's, Diabetes, Cancer and Alzheimer's.
The report details several factors that drive the market. Some of these are as follows:
While the global stem cell services market has ample scope for growth, there are some factors restraining it as well. These include:
The stem cell research market is segmented on the basis of service, therapeutic application, treatment, and geography. On the basis of service, stem cell banking occupies the majority share of the market. The stem cell services market is valued at USD 6.2 billion and is expected to grow at a CAGR of 15% over the forecast period.
On the basis of geography, USA holds the majority of share of 30%, followed by the UK. Recently, the emerging markets have shown a higher CAGR compared to the developed nations.
Some of the key players in the market are:
Key Deliverables in the Study
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