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The rising prevalence of cancer, cardiovascular disorders and neurodegenerative diseases and the role of stem cell therapy in treating these diseases is projected to drive the growth of stem cell characterization kit market. As per the American Cancer Society, in 2017 cancer accounted around 1 out of 4 deaths in the U.S. and was the second most common cause of deaths in the U.S. Stem cell therapy and stem cell transplant has huge potential to treat such chronic diseases, which is expected to have a positive impact on the growth of the stem cell characterization kits market.
The growth of the stem cell characterization kits market is expected to be being fuelled by government funding for stem cell research. In 2017, the federal spending for stem cell research was US$ 1.8 Bn of the total spending, where 31% was spent on nonembryonic non-human stem cells, 20% was spent on human-induced pluripotent stem cells, 27% was spent on nonembryonic human stem cells, embryonic human stem cells research contributed 12% of total spending, whereas 8% and remaining 2% of total spending was spent on embryonic non-human and placenta stem cells research, respectively. Increasing focus on stem cell research is expected to make stem cell characterization kits market one of the lucrative areas of business.
Stem cell transplant is useful for the treatment of spinal cord injury, stroke, and AlzheimerÂ’s disease, which is expected to fuel the adoption of stem cell characterization kits over the forecast period. The Stem Cell Agency, California, is working on the development of new stem cell-based therapies for chronic diseases such as cancer and rare diseases, where stem cell characterization kits are primarily required. Stem cell characterization kit is also required to identify the appropriate stem cells for the treatment of Î²-Thalassemia. Due to the increasing research and study on stem cells, the stem cell characterization kit market is expected to witness significant growth over the forecast period.
The role of stem cell characterization kit is very important because if the stem cells are not characterized properly into required adult cell type, transplanted stem cells may revert back to teratomas and there is a possibility of transplant rejection. This is expected to influence the growth of the stem cell characterization kit market.
To gain a comprehensive and better understanding of the future market equity, the stem cell characterization kits market is segmented based on stem cell type, application, end user, and region.
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Based on type of stem cell, the stem cell characterization kits market is segmented into:
- Stem Cell Characterization Kits for Adult Stem Cells
- Stem Cell Characterization Kits for Induced Pluripotent Stem Cells
- Stem Cell Characterization Kits for Mesenchymal Stem Cells
- Stem Cell Characterization Kits for Neural Stem Cells
- Stem Cell Characterization Kits for Hematopoietic Stem Cells
- Stem Cell Characterization Kits for Umbilical Cord Stem Cells
- Stem Cell Characterization Kits for Human Embryonic Stem Cells
North America and Europe are expected to witness significant growth in the global stem cell characterization kit market over the forecast period. This is owing to presence of key manufacturers and researchers of stem cell based therapies in these regions. Moreover, manufacturers such as ThermoFisher Scientific, and Becton Dickinson providing stem cell assays are present in North America region. Asia Pacific is expected to show significant growth in the stem cell characterization kit market over the forecast period, as researchers from China and Japan are working on stem cell based therapies. For instance, in 2017, clinical trials of embryonic stem cells were launched in China for ParkinsonÂ’s disease.
Examples of some of the key participants in the stem cell characterization kits market identified across the value chain include Merck KGaA, Celprogen, Inc., Creative Bioarray, Thermo Fisher Scientific Inc., BD Biosciences, R&D Systems, Inc., System Biosciences, Cosmo Bio USA, BioCat GmbH, and DS Pharma Biomedical Co., Ltd.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Argentina, Mexico, Brazil)
- Europe (Germany, Italy, U.K, Spain, France, Russia, Poland)
- Asia Pacific Excluding Japan (India, Australia & New Zealand, China, ASEAN)
- Middle East and Africa (GCC, South Africa, Rest of MEA)
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