Axis Research Mind
Global stem cells market is forecasts to reach US$63.8 billion by 2015 from an estimated value of US$21.5 billion in 2010, exhibiting a triple fold growth rate during the period 2010-2015. The major application use in stem cells market is classified into oncology, cardiology, and bone & cartilage. Among the applications areas, neurology is forecasts to exert highest support to the stem cells market growth with a CAGR of 24.4% during 2010-2015. Hematology and diabetes are expected to lead the stem cell market during 2010-2015. Our study on the stem cell technologies reveals that cord blood banking and xenotransplantation are expected to lead the technologies during 2010-2015. Drug discovery and stem cell transplantation techniques are also expected to ground in the upcoming years.
The stem cell market is expected to witness a substantial growth in the upcoming years, with a CAGR of 24.2%, globally. Although North America will likely post highest market value by 2015, Asian economies are expected to maintain large CAGR of 27 percent during 2010-2015. The higher growth rate indicates improved industry investments in the Asia-Pacific region in comparison with North America and Europe, going ahead.
Improving health consciousness in Europe will likely maintain the Union competent with Asia-Pacific/North America. India possesses the potential to occupy the leading position in stem cell market growth with a CAGR exceeding 28 percent through 2015. Spain, Sweden and Germany are anticipated to top among the European countries with an annual compounded growth rate of more than 27 percent respectively through 2010-2015. Latin American countries will not likely experience a massive growth rate in comparison with North American/Asian economies. Overall, emerging economies could tag higher growth rate stem cells market in the next few years.
New trends in stem cell technologies realized multidisciplinary research consortia among academic, medical, government and industry partners. Anticipating a boom in technological space, the consortia members are expected to be benefitted in the application front and in practicing stem-cell technology in life science arena.