Market Trends of Human Embryonic Stem Cells Industry
Stem Cell Biology Research Segment is Expected to Show Better Growth in the Forecast Year
- Stem cells are biological cells that can differentiate into other types of cells. Additionally, various types of stem cells are used for therapeutic purposes. With multiple applications at the clinical stage for various diseases such as cancer and neurological conditions, these have been explored extensively by many biopharmaceutical companies in recent times. Stem cell biology research will show better growth, owing to the high prevalence of diseases such as Parkinson's disease, cancer, and Others.
- The data from Parkinson's Foundation published in June 2022 stated that every year, around 90,000 people in the United States are diagnosed with Parkinson's Disease. According to the article from DVC Stem published in August 2022, it was observed that the goal of stem cell therapy for Parkinson's disease is to replace destroyed brain cells with healthy, undifferentiated stem cells.
- Furthermore, in September 2021, Tabar, a physician-scientist at Memorial Sloan Kettering Cancer Center in New York City, led a clinical trial to inject stem cells into the brains of people with Parkinson's disease to restore dopamine levels. Additionally, to accelerate stem cell research, the government is providing funding opportunities to researchers.
- For instance, the PubMed data published in February 2022 mentioned that the total funds released by the Indian Council of Medical Research (ICMR) under stem cell research in fellowships in 2021 were USD 3 million. Therefore, increasing research in the field of stem cells is boosting its adoption, which is contributing to the segment growth.
- Thus, owing to these factors, the market studied is expected to witness a high growth rate over the forecast period.
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North America to Hold a Major Share in the Human Embryonic Stem Cells Market Over The Forecast Period
- North American region is expected to hold a significant share of the market studied owing to extensive research activities and the region's high burden of chronic diseases and genetic disorders. The United States also shows a high incidence of diabetes, heart disease, renal failure, and osteoporosis. Human embryonic stem cells have a high potential for use in treatment and may become a standard of care for these diseases. For instance, researchers are trying to use HESC to generate healthy replacement tissues and cells for various diseases and injuries such as heart disease, Parkinson's disease, spinal cord injuries, and diabetes.
- In April 2021, Vertex Pharmaceuticals Incorporated received the United States Food and Drug Administration (FDA) Fast Track Designation for VX-880, and the company initiated a clinical trial for VX-880 in patients who have type 1 diabetes (T1D) with severe hypoglycemia and impaired hypoglycemic awareness. VX-880 is one of the first investigational stem cell-derived therapies utilizing fully differentiated, insulin-producing pancreatic islet cells for the treatment of type 1 diabetes. Such increasing approvals are expected to drive the growth of the market.
- Also, the increasing research funding for the development of various therapies is expected to drive the growth of the market in this region. For instance, in May 2022, UBC Medicine researchers were awarded over USD 2.5 million from Canada's Stem Cell Network to advance six regenerative medicine research projects and clinical trials.
- Hence, these factors are expected to influence the growth of the human embryonic stem cells market over the forecast period.
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