Increasing Prevalence of Chronic Diseases and R&D in Stem Cell Therapy to Augment Growth of Stem Cell Assay Market

 

Stem Cell Assay Market

Stem cells are a new generation of specialized cells which are not like the rest of your body cells. A stem cell is an undifferentiated mass of tissue which has the amazing capacity to multiply indefinitely without dividing as other body cells do. It is further distinguished into different specialized cells like bone cells (osteocytes), skin cells (melanocytes), blood cells (leukocytes), nerves, and heart cells.

Market Dynamics

Increasing prevalence of chronic diseases is expected to propel growth of the global stem cell assay market. For instance, according to the American Cancer Society, in 2019, there will be an estimated 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths in the U.S. Moreover, effectiveness of autologous hematopoietic stem cell transplant in treatment of various diseases is also expected to aid in growth of the market. For instance, in November 2020, the National MS Society stated that autologous hematopoietic stem cell transplant represents “a useful treatment option” for patients with relapsing multiple sclerosis who experience breakthrough disease activity despite disease-modifying therapy.

R&D in stem cell therapy is expected to offer lucrative growth opportunities for players in the global stem cell assay market. For instance, in March 2020, researchers from Dankook University and Catholic University, South Korea, reported investigation of the types and degrees of physical and psychological discomfort experienced by hematopoietic stem cell donors before, during, and after the donation process.

Moreover, ability of stem cell assays to predict developmental toxicity potential of nicotine-containing products is also expected to aid in growth of the market. For instance, in December 2020, the new study, “The use of human induced pluripotent stem cells to screen for developmental toxicity potential indicates reduced potential for non-combusted products, when compared to cigarettes,” published online in the journal Current Research in Toxicology, supported the utility of the devTOX quickPredict (devTOXqP) human induced pluripotent stem cell (iPS)-based assay from Stemina Biomarker Discovery (Stemina) as the first human-based in vitro assay to effectively predict risk to early embryonic development induced by chemical exposure, including that from nicotine-containing products.

Competitive Analysis

Major players operating in the global stem cell assay market include, Merck & Co., Thermo Fisher Scientific, GE Healthcare, Agilent Technologies, Bio-Rad Laboratories, Promega Corporation, Cell Biolabs, PerkinElmer, Stemina Biomarker Discovery, Inc., Miltenyi Biotec, HemoGenix, Bio-Techne Corporation, Tiziana Life Sciences plc, STEMCELL Technologies, and Cellular Dynamics International.

Major players operating in the global stem cell assay market are focused on adopting various strategies to enhance their market share. For instance, in May 2020, Tiziana Life Sciences plc announced that two abstracts on the company’s stem cell biology-based genomic tool, StemPrintER, for the prediction of disease recurrence in breast cancer patients, will be presented at the American Society of Clinical Oncology’s 2020 Virtual Conference. 

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