LONDON--(BUSINESS WIRE)--The global cancer stem cell therapeutics market is expected to post a CAGR of close to 11% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the global cancer stem cell therapeutics market is the strong pipeline of novel cancer stem cell therapies. The rising incidence of tumor recurrence, metastases, and the increasing incidence of cancer are encouraging players in the market to focus on the development of cancer stem cell therapeutics. Several drugs in late-stage clinical trials are also expected to be launched during the forecast period, which will drive the market growth. Moreover, vendors in the market are increasingly focusing on developing cancer therapeutics designed to inhibit cancer stemness pathways. Hence, with the increasing number of trial therapies to be launched in the US by 2021, the demand for cancer stem cell therapeutics will rise considerably in the forthcoming years.
As per Technavio, the availability of stem cell markers in the identification of cancer stem cells will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global cancer stem cell therapeutics market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global cancer stem cell therapeutics market: Availability of stem cell markers in identification of cancer stem cells
The availability of stem cell markers has eased the identification of cancer stem cells in cervical cancer and breast cancer. Cervical cancer is one of the most common types of cancer and is the leading cause of death among women worldwide. Stem cell markers are increasingly being used for the identification of cervical cancer stem cells. In addition, cancer stem cells are increasingly becoming targets for cancer treatment due to their capacity of self-renewal and tumorigenicity. Therefore, with the rising use of stem cell markers, the identification of cancer stem cells is increasing, which will boost the cancer stem cell therapeutics market growth in the forthcoming years.
“The market is witnessing the development of first-in-class therapeutics using induced pluripotent stem cells. These stem cells are differentiated cells that are reprogrammed into an embryonic-like state using nuclear programming. Induced pluripotent stem cells are widely being implemented for the development of cancer stem cell therapeutics. Such developments will lead to the growth of the market,” says a senior research analyst at Technavio.
Global cancer stem cell therapeutics market: Segmentation analysis
This market research report segments the global cancer stem cell therapeutics market by type (allogenic stem cell transplant and autologous stem cell transplant) and geographic regions (North America, Europe, Asia, and ROW).
North America led the market in 2018, followed by Europe, Asia, and ROW respectively. The market growth in North America can be attributed to the growing prevalence of cancer in the US. Europe will account for the fastest growth in the market due to the rising incidence of cancer reported in the UK, Germany, and France.
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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
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