Autologous Stem Cell And Non-Stem Cell Based Therapies MarketSize and Trends

A primary driver for this market is the worldwide increase in occurrence of diabetes and cancer, across all age groups. According to the World Health Organization (WHO) 2018 statistics, the number of people with diabetes has risen from 108 million in 1980 to 422 million in 2014. Moreover according to the World Health Organization cancer factsheet 2018, Cancer is the second leading cause of death globally, and is responsible for an estimated 9.6 million deaths in 2018. Furthermore, increasing old age population is another driver, which is anticipated to create a high growth scenario for the market. As per the World Population Prospects 2019 revision, the number of people aged 80 years or over is projected to be triple, from 143 million in 2019 to 426 million in 2050.

Increasing prevalence of cancer will drive the overall autologous stem cell and non-stem cell based therapies market

According to a report by National Cancer Institute, in 2016, around 1,685,210 new cases of cancer were diagnosed in the U.S. alone. Moreover, it was also noted that around 595,690 people died from the disease in the same year. Autologous stem cell and non-stem cell based therapies is likely to become one of the preferred treatment for cancer. As the prevalence of cancer is rising at a considerable rate, the market is likely to grow during the forecast period.

North America, followed by Europe accounted for the major share of the autologous stem cell and non-stem cell based therapies market. This is due to minimization of risks related with the treatment. Moreover, the demand for these treatments is high due to their ability to cure a significant number of infectious diseases. Autologous stem cell and non-stem cell based therapies do not need an outside donor; therefore the treatment is less infectious and convenient. These factors are likely to boost the growth of the market in North America. However, Asia Pacific is expected to show the maximum growth in the forecast period. The demand in this region will be led by countries such as China, India, Malaysia, and Vietnam. The demand is likely to grow as autologous stem cell and non-stem cell based therapies aid in the efficient management of cardiovascular diseases as well. Growing healthcare infrastructure as well as increasing collaboration and acquisition by market players in this region is also expected to help in the growth of the autologous stem cell and non-stem cell based therapies market in the Asia Pacific. For instance in January 2018, Vericel Corporation made a licensing agreement with Innovative Cellular Therapeutics (ICT) for development and distribution of autologous stem cell based therapy products such as MACI, Epicel, ixmyelocel-T and Carticel in Greater China, South Korea, Singapore, and other countries in the region