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Growing Prevalence of Cancer Compels Governments to Fund Cancer Stem Cells Research Projects Health Articles | September 9, 2016
Cancer stem cells (CSCs) refer to the cells obtained from tumor that posses potential to reproduce all types of cancer cells found in a cancer sample.
The latest report by Transparency Market Research observes that the high incidence of cancer is likely to augment the demand for cancer stem cells research and development. The research report, titled “Cancer Stem Cells Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020,” assesses the factors supporting this market and the ones inhibiting it. It uses a SWOT analysis to examine the strengths, weaknesses, opportunities, and threats impacting the segments of the overall market. The report states that the remarkable advancements in technology that are specific to targeting cancer cells and improving the life expectancy of the patient are expected to propel the market in the near future.
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The ascending rate of mortality due to cancer has prompted researchers and scientists across the globe to tap into the vast pool of medical needs. This has intensified the demand for cancer stem cells. Stem cell research plays a key role in designing a treatment for the cancer patients. The soaring awareness amongst patients about stem cells and cell therapy to treat cancer has also fueled the growth of the global cancer stem cells market. However, the lingering skepticism about cancer stem cells therapy and the stringent regulations surrounding its commercialization have hampered the growth of this market.
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The market is expected to overcome this hurdle as the world is staggering under the weight of increasing cancer cases, some of which remain unknown to science. Thus, the widening gap between growing medical needs and lack of treatment options is projected to accelerate the pace of research of stem cell therapy for lung cancer, colorectal cancer, skin cancer, breast cancer, bone cancer, and brain cancer. Changing mindsets of various governments is also projected to boost the market as it will bring in funding for cancer stem cell research.
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North America has a dominant position in the global cancer stem cells market. The region is benefitting from the well-equipped research facilities, a significant pool of skilled professionals, and an economy that is sensitive to the development of the health care sector. Europe is expected to follow North America’s lead quite closely in the coming few years. Meanwhile, Asia Pacific is expected to exhibit a remarkable progress in the overall market with governments of China and India taking a noteworthy initiative in advancing their research and development activities to improve medical facilities. Japan is also expected to be a key country in the growth of the cancer stem cells market in the near future.
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Some of the key players in the global cancer stem cells market are AdnaGen GmbH, AVIVA Biosciences Corporation, Celula, Inc., Advanced Cell Diagnostics, Inc., Epic Sciences, Inc., Rarecells USA, Inc., Silicon Biosystems, S.p.A., and Fluxion Biosciences, Inc. The research report evaluates the business strategies adopted by these players and recommends strategic changes that players could adopt to earn sizeable revenues in the near future.
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