The European stem cell market is forecasted to grow from USD 3696.03 Million in 2023 and to USD 6455.71 million by the end of 2028, growing at a CAGR of 11.80% during the forecast period.
Stem cells are cells with the unique ability to create into a special type of cell in the body. These cells are used to replace the damaged cells because of any diseases. There are two types of stem cells in the human body, i.e., embryonic stem cells and induced pluripotent stem cells.
Regenerative medicine is perhaps the most important use of stem cells, and other essential areas include oncology, hematology, orthopedics, cardiology, and neurology. Another widely found application is drug discovery and development. Stem cells are a research tool, as their in vitro study would allow scientists to understand the role of various organs and the development of particular illnesses; stem cells may also enable drug developers to test emerging therapies on diseased cells. For example, stem cell therapy has shown a substantial potential to treat cancer successfully. Cancer stem cells that have been tested on animals have shown satisfactory results.
Some of the key drivers of the European stem cell market are improved funding from various government and private organizations for research and development for unmet medical needs, growing industry attention on stem cell research, and increasing global awareness about stem cell therapies. In addition, the development of cutting-edge genomic techniques for stem cell analysis and increasing approvals for clinical trials of stem cell therapy are other factors propelling the market's growth.
While on the other hand, ethical issues are involved in stem cell research, and strict regulations to conduct trials on humans are some restraining factors. Also, factors such as lack of required infrastructure and complications associated with the preservation of stem cells are limiting the growth of the stem cells market.
This research report on the European Stem Cell Market has been segmented and sub-segmented the Europe Stem Cell Market into the following categories:
By Treatment mode:
By Cells Type:
Regionally, the European region is always known as the hub of biotechnology research. Rising demand for research and development activities of drugs and vaccines is one of the significant factors accelerating the Europe Stem cell market growth. In addition, Europe has standard research quality with regenerative medicine, which solely boosts the market's growth rate. For example, TiGenix & Alofisel recently developed the first allogeneic stem cell therapy to treat luminal Crohn's disease and received approval for use in Europe.
During the forecast period, the UK stem cell market is predicted to dominate the European market. Increasing support from government bodies to promote quality services is elevating the market's demand in the UK.
The German stem cell market is expected to register healthy CAGR from 2022 to 2027. As per the German researcher, stem cell injections also cure type 2 diabetes, cardiovascular diseases, heredity eye disease, neurological disorders such as Parkinson's, Alzheimer's, and even cancer. In Germany, there is a center for regenerative medicine & stem cell therapy. The Centre provides treatment through cutting-edge technology & innovative medicine to cure the disease. Therefore, the adoption of the latest technologies is bolstering the growth rate of the market in Germany.
The stem cell market in France is expected to be another lucrative regional market in Europe. A country like France is focusing on clinical trials. The researcher is studying the intravenous injection of autologous mesenchymal stem cells therapy to cure ischemic stroke. These strokes happen when a blood clot blocks the blood flow in the brain.
KEY MARKET PLAYERS:
A few of the prominent companies leading the Europe Stem Cell Market profiled in the report are Athersys, StemCells Inc, Cryo-Cell International, Geron Corporation, Mesoblast Ltd, Aastrom Biosciences Inc, Celgene Corporation, Invitrogen and Cytori Therapeutics Inc.
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