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