Global Human Embryonic Stem Cells Market Drivers:
Increase in incidence/prevalence of cardiac and malignant diseases across the world is expected to augment growth of the global human embryonic stem cells market over the forecast period. Human embryonic stem cells (hESC) have high potential for use in treatment and may become a standard of care for cardiac/malignant diseases. According to the World Health Organization (WHO), cardiac diseases are one of the leading cause of death worldwide, taking an estimated 17.9 million lives each year; an estimated 32% of all deaths worldwide.
Rising demand for regenerative medicines across the globe is expected to boost growth of the global human embryonic stem cells market over the forecast period. For instance, in February 2022, in an effort to support the research and development (R&D) in regenerative medicine in the country, the Government of India has helped setting up state-of-the-art stem cell research facilities in 40 premier health research and educational institutions. It has also spent around Rs. 8.13 crore through Indian Council of Medical Research (ICMR) under certain projects.
Global Human Embryonic Stem Cells Market Opportunities:
Favorable government initiatives or rise in support from governments or private organisations are expected to offer lucrative growth opportunities for players in the global human embryonic stem cells market. For instance, in June 2022, a global stem cell research collaboration that will develop new treatments for cancer, diabetes, and cardiovascular diseases has been launched at the Murdoch Children’s Research Centre (MCRI). The center is made possible through a record stem cell drug grant of €300 million over 10 years from the Novo Nordisk Foundation.
Increase in focus on the development of stem cell therapies is expected to provide significant growth opportunities for players in the human embryonic stem cells market. For instance, the embryonic stem cells are the future of the medicines. These cells can be used for therapeutic purposes. In January 2022, Cellino Biotech raised about US$ 80 million in a Series A financing round. Cellino Biotech planned to expand access to stem cell-based therapies by building the first autonomous human cell foundry in 2025.
Global Human Embryonic Stem Cells Market Restraints:
Stringent regulatory guidelines and ethical issues are expected to hamper growth of the global human embryonic stem cells market. The National Academies urged all institutions conducting such research to establish oversight committees to ensure that the guidelines will be followed. According to the National Research Council and Institute of Medicine, guidelines are intended to enhance integrity of privately funded hESC research by encouraging responsible practices. In India, it takes around a year to get the Drugs Control General of India (DCGI)’s approval for conducting any type of stem cell clinical trial.
High cost of the procedure is expected to hinder growth of the global human embryonic stem cells market. For instance, cost of stem cell manufacturing and banking is significantly high. Stem cell therapy costs can range anywhere from US$ 5000 - US$ 50,000. However, treatment cost will vary dramatically depending on a variety of different factors. The cost of the media used for human embryonic stem cell manufacturing is even more costly. Medium of Thermo Fischer cost around INR 32,954 for just 500ml. The cost of manufacturing hESC act as a barrier to the growth of the human embryonic stem cells market.
Human Embryonic Stem Cells Market Report Snapshots
Joining thousands of companies around the world committed to making the Excellent Business Solutions.
View All Our Clients