Global Stem Cells Market – Impact of Coronavirus (COVID-19) Pandemic
Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.
COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, the U.A.E., Egypt, and others, are facing problems with the transportation of drugs from one place to another.
However, the COVID-19 pandemic had a positive impact on the global stem cells market. This was due to the surge in research and development activities that occurred during the pandemic. For instance, in August 2022, StemCyte India Therapeutics Pvt. Ltd., a biopharmaceutical company, obtained approval from the U.S. FDA for their Phase II clinical trial for Post-COVID Syndrome using umbilical cord blood stem cell therapy.
Global Stem Cells Market - Key Players
Major players operating in the global stem cells market include Advanced Cell Technology, Inc., Angel Biotechnology Holdings PLC, Biotricity, Lineage Cell Therapeutics, Inc., BrainStorm Cell Limited., CIRM, Celgene Corporation (A subsidiary of Bristol-Myers Squibb Company), Takara Bio Inc., Cellular Engineering Technologies., Cytori Therapeutics Inc., and STEMCELL Technologies.
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