Can UCB Stem Cells Be Permanent Solution For Chronic Disorders
21 Jan 2014
Rich in stem cells, Umbical Cord Blood Cells are collected at the time of birth of a child, which are used in research and treatment of genetically diseases. The umbilical cord blood cells have hematopoietic stem cells - alike in the bone marrow - and which can be used to generate red blood cells and cells of the immune system. Cord blood stem cells are presently used to cure of blood disorders and immune system conditions such as leukemia, anemia and autoimmune diseases.
As per the study conducted by Allied Market Research, global umbilical cord blood stem cell market is estimated to reach $11.5 billion in 2014 from $6.5 billion in 2012. Further, it is expected to reach $56.4 billion by 2020 growing at a CAGR of 33.4%.
As per experts, cord blood stem cell therapies are very much efficient and cost effective when compared to other therapies. It also helps to discover new therapies for treatment of chronic disorders. Rising awareness and increasing government support for cord blood stem cell is boosting its growth.
Rising rate of diseases like diabetes, immune disease, cancer, metabolic disease etc has increased the demand for an enhanced and cost effective treatment. As per the report, these stem cells give a higher cell count in low volume of blood and can be easily stored in Cord Blood Stem Cell Banks.
As per the analysts, application of cord stem cell would be commercialized soon as most of them are in last stage of clinical trials. Report prepared by them clearly showed that in developed countries patents for therapeutics and collection methods are approved by their respective governmental organization. However, UCB stem cell patents are not significant in developing countries.
In terms of geographical locations, reported stated that the 44% of total revenue generated alone by North America in 2013. However, as per the study made by AMR experts, Asia Pacific region will show higher growth in UCB stem cells market due to rising demand for chronic disorder treatments and rising awareness.
Some of the key companies profiled by this report in the field of UCB stem cell application are Geron Corporation, Mesoblast Limited, Advanced Cell Technology Inc, Opexa Therapeutics Inc.(USA) etc.
Research Analyst at Allied Market Research
Deepa Tatkare has an experience of more than 3.5 years in market assessments and forecasts in healthcare & medical device industry. She is actively involved in providing critical insights on business research to clients with her subject matter expertize. Her profile includes planning, commissioning, and executing syndicate as well as customized research projects. She has successfully analyzed and presented data for studies related to medical devices, biotechnology, and pharmaceutical domains.