According to the new market research report “Synthetic Stem Cells Market by Application (Cardiovascular Disease, Neurological Disorders, Other Applications (Cancer, Diabetes, Gastrointestinal, Musculoskeletal Disorders)), Region (North America (US, Canada), Europe, APAC, RoW) – Global Forecast” published by MarketsandMarkets™.
The Synthetic Stem Cells Market is expected to grow from USD 14 million, at a CAGR of 22.5% during the forecast period.
Major Market Growth Drivers:
- Ethical Concerns Regarding Embryonic Stem Cells
- Risk of Tumor Formation and Immune Rejection of Natural Stem Cells
Major Market Growth Opportunities:
- Costly Storage and Fragility of Natural Stem Cells
- Potential Application in Major Indications
- Increasing Stem Cell Research Funding
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Market Segmentation in Depth:
The major applications of synthetic stem cells include cardiovascular diseases, neurological disorders, and other diseases that require regenerative therapy. Cardiovascular diseases have high prevalence across the globe. Currently, synthetic mesenchymal cells have been developed only for cardiac tissue and have been tested in mice models. The research on cardiac synthetic stem cells is expected to enter the clinical phase in the coming 2-3 years, and the first commercial product would be cardiac synthetic stem cells in the next five years.
Key questions addressed by the report:
- What is synthetic stem cell technology?
- What could be the future of this technology in the coming years?
- What are the regional growth trends and the largest revenue-generating regions for synthetic stem cells?
- What are the major applications of synthetic stem cells?
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North America is estimated to account for the largest share of the market in 2023. North America is the pioneer of synthetic stem cell technology. Also, North America leads in the R&D of stem cell therapies globally, with the registration of the highest number of clinical trials (more than 1400) on stem cells till 2018. This is further backed by the high rate of adoption of advanced therapies in the US (more than 600 stem cell therapy clinics in the US in 2016).
The key developers of synthetic stem cell technology are North Carolina State University (NCSU) (US) and Zhengzhou University (China).