Global Statistics Representing Cancer stem cell Market Scenario
Increasing application of stem cell therapy in cell transplant and treatment of cancers such as leukaemia, lymphoma, multiple myeloma and neuroblastoma is facilitating the growth of the market.
According to the World Health Organization (WHO), in 2015, approximately 8.8 million people died due to cancer. Increasing prevalence of cancer such as blood cancer, lung cancer, colorectal cancer, prostate cancer, breast cancer, and cervical cancer worldwide is influencing the growth of the cancer stem cell market. Growing stem cell-based clinical trials and growing funding stem cell research is propelling the growth of the market.For instance,in 2016to researchers at the Department of Cancer Biology, Mayo Clinic developed a combination therapy using auranofin, hamper the growth of lung CSCs.
The global cancer stem cells market size was valued at USD 745.5 million in 2017. The market is expected to expand at a CAGR of 10.58% during the forecast period.
The global cancer stem market is segmented by mode of action and application.
Based on the mode of action, market is segmented into targeted cancerous stem cells and stem cell-based cancer. Increasing focusing on the development of allogeneic cellular therapy products is contributing to the growth of the segment.
Based on application, the market is segmented into blood cancer, lung cancer, colorectal cancer, prostate cancer, breast cancer, cervical cancer, and others. The lung cancer segment is expected to gain significant growth owing to rising incidence of lung malignance worldwide.
Geographically, global cancer stem cell market is divided into four major regions such as North America, Europe, Asia Pacific (APAC), and Latin America and Middle East & Africa (LAMEA).
North America is expected to dominate the global cancer stem cell market. Increasing research on cancer stem cell is boosting the demand of the market on account of technological advancement in cancer stem cell treatment. Apart from this, rising incidences of nonmelanoma skin cancer in U.S. is driving the growth of the market. As per, Skin Care Foundation, diagnosis and treatment of nonmelanoma skin cancers is increased by 77% between 1994 and 2014.Around 90% skin cancer occur due to sun exposure.
Europe is expected to be the second leading region in the global cancer stem cell market in the coming years. European countries treat the cancer by replacing cancer stem cells in the tumour and treat the cancer in a specialised and targeted manner. Increasing prevalence of breast cancer in U.K, over 55,000 women werediagnosed with breast cancer each year in the U.K. Rise in number of cases of breast cancer owing to adoption of unhealthy life such less physically activity, increasing alcohol consumption, and obesity is driving the growth of the cancer stem cell market.
Asia Pacific (APAC) is expected to be the fastest growing region during the forecast period 2019–2026. According to the WHO Cancer Report, in India, rising new cases of lung, oral, lip, throat and neck cancers are the most common in men, while increasing prevalence of cervix, breast and ovarian cancers in women is driving the growth of the market.
LAMEA is expected to witness sluggish growth in the global market during the forecast period. This is attributed to the poor healthcare infrastructure in Africa and slow growing economies. However, growing urbanization, improving healthcare infrastructure, and high disposable income in the Middle East countries such as UAE and Saudi Arabiaare projected to drive the growth to some extent.
The some of the key players in cancer stem market include AbbVie, Inc., Inc., Bionomics; Lonza, Merck KGaA, , Inc., Thermo Fisher Scientific, MiltenyiBiotec, MacroGenics, Inc., Irvine Scientific, OncoMed Pharmaceuticals, Inc.,STEMCELL Technologies Inc., Stemline Therapeutics PromoCellGmbH, , and BIOTIME, INC., Sino Biological Inc.
Global Cancer Stem Cell Market Segmentation
By Mode of Action
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Our report covers cancer stem cell market insights, focusing on recent development in the market in different region and development strategies of the companies. Moreover, following sections are specifically covered in the report.