San Francisco, California (PRWEB) June 23, 2014
The global market for stem cells is expected to reach USD 170.15 billion by 2020, according to a new study by Grand View Research, Inc. Growing prevalence of chronic diseases such as cardiovascular and liver disease, diabetes and cancer coupled with the presence of high unmet medical needs in these disease segments is expected to drive market growth during the forecast period. Moreover, increasing government support pertaining to funding R&D initiatives and the growing demand for medical tourism and stem cell banking services is expected to boost the demand for stem cells over the next six years. The future of this market is expected to be driven by opportunities such as the growing global prevalence of neurodegenerative diseases, increasing demand for contract research outsourcing services and the substitution of animal tissues by stem cells.
The stem cells technology market was valued at USD 12.88 billion in 2013 and is expected to grow at a CAGR of over 12.0% during the forecast period. This market was dominated by the cell acquisitions technology segment in terms of share in 2013 owing to the fact that this technology serves as the foremost step to process involving stem cells culture. The global stem cell acquisition technology market is expected to reach USD 10.88 billion by 2020, growing at a CAGR of over 14.0% over the next six years.
The report “Stem Cells Market Analysis By Product (Adult Stem Cells, Human Embryonic Cells, Pluripotent Stem Cells), By Application (Regenerative Medicine, Drug Discovery and Development) And Segment Forecasts To 2020,” is available now to Grand View Research customers at http://www.grandviewresearch.com/industry-analysis/stem-cells-market.
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Further key findings from the study suggest:
For the purpose of this study, Grand View Research has segmented the global stem cells market on the basis of product, application, technology and region:
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About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com/.
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