LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global stem cell therapy market to grow at a CAGR of almost 11% during the forecast period, according to their latest market research report.
The reimbursement facility is one of the major trends being witnessed in the global stem cell therapy market 2018-2022. Reimbursement by private players is based on features such as procedure caps, lifetime caps, pre-existing condition clauses, and preauthorization procedures. In Europe, reimbursement challenges vary among EU countries, and an approval does not guarantee reimbursement. For instance, products such as PROVENCE, ChondroCelect, and MACI are approved but not reimbursed in the EU. In Japan, the national healthcare systems make the reimbursement of stem cell products and other regenerative medicines less complex than in the US and EU.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
According to Technavio analysts, one of the key factors contributing to the growth of the global stem cell therapy market is the increase in awareness of stem cell therapy:
Global stem cell therapy market: increase in awareness of stem cell therapy
With the increasing advances in science and technology, awareness about stem cell therapy has also increased. In certain countries with universal health coverage, individuals may be paid by the government to be treated in other countries. These steps improve the patient’s accessibility and hence, the perception to consider stem cell as a feasible option. This has led to the development of ‘stem cell tourism’ in which patients travel to countries that do not have strict regulatory restrictions on stem cell therapy.
According to a senior analyst at Technavio, “Regional government bodies must undertake initiatives such as educational programs on stem cell designed specifically to meet the regional, cultural, and behavioral determinants of that population. Educating and certifying medical personnel in terms of stem cell therapy procedures and the potential side effects of the therapy also increase awareness.”
Global stem cell therapy market: Segmentation analysis
The global stem cell therapy market research report provides market segmentation by product (autologous transplants and allogeneic transplants), by end-user (hospitals and clinics, ASCs, dialysis centers, and others), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major types, the autologous transplant segment held the largest market share in 2017, contributing to around 90% of the market. This segment will dominate the global market throughout the forecast period.
The Americas held the largest share of the market in 2017, accounting for close to 56% share, followed by EMEA and APAC respectively. The dominance of the region can be due to the presence of major vendors such as Vericel, Organogenesis, Athersys, and Gilead.
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com.
