Healthcare market research reports are suggesting a considerable market growth in the area of stem cells and regenerative medicine and the reason is a new study. Though stem cells are important in the body as they repair damaged tissue, however, there has to be a specific cell type to be functional. If one analyzes the process of stem cell development, it can bring out new opportunities to be more effective, thereby contributing to treating several health conditions.
Global cell therapy market suggests that new studies have been conducted to explore regenerative medicine. In one such study, it is found that the fetal intestine can develop into stem cells. The area can help researchers to progress in stem cell therapy.
The research also suggested that immature cells in the intestine are nor determined in advance. With this, healthcare industry market research observes a greater demand owing to the new development projects in stem cell therapy.
Taking the immature stem cells development ahead, researchers are planning to take the study ahead to explore how they can improve the ability of stem cells. They hope that research would help future therapies dependent on regenerative medication. This will encourage self-healing and believed to be useful for IBD patients where people suffer from belly cramps, diarrhea or discomfort.
The global stem cell and regenerative medicine market is expected to grow from $21.8 billion in 2019 to reach $55.0 billion by 2024 at a compound annual growth rate (CAGR) of 20.4% for the period of 2019-2024.
In the global market, North America held the highest market share in 2018. The Asia-Pacific region is likely to grow at the highest CAGR during the forecast period.
The growing government funding for regenerative medicine in research institutes along with the growing number of clinical trials based on cell-based therapy and investment in R&D activities is expected to supplement the growth of the stem cell and regenerative market in Asia-Pacific region during the forecast period.