Stem cells are divided into two major classes; pluripotent and multipotent. Pluripotent cells are stem replicating cells which are derived from the embryo or fetal tissues. The pluripotent stem cells facilitate the development of cells and tissues in three primary germ layers such as mesoderm, ectoderm, and endoderm.
Expansion of facilities related to stem cell therapies is expected to propel growth of the stem cell therapy market. For instance, in January 2018, the University of Florida, U.S. launched the Center for Regenerative Medicine that is focused on development of stem cell therapies for the treatment of damaged tissue and organ. The Centre for Regenerative Medicines is divided into two segments such as focus groups and shared services. Focus groups such as research and development activities for stem cell therapies; and the shared services segment provides technical resources related to stem cell therapies.
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Furthermore, rising collaboration activities by key players are expected to drive growth of the global stem cell therapy market. For instance, in May 2018, Procella Therapeutics and Smartwise Medtech Company collaborated with AstraZeneca Pharmaceuticals. Under this collaboration, AstraZeneca was able to utilize Procella Therapeutics’ stem cell technology for development of stem cell therapies in cardiovascular diseases.
Stem cell banks facilitate extraction, processing of stem cells, and storage of stem cells for future use. Increasing launches of stem cell banks is expected to boost the stem cell therapy market growth. For instance, in January 2018, Lifecell Biotechnology launched a stem cell bank in India, which preserves and provides umbilical cord stem cells for stem cell transplantation. In a stem cell transplantation therapy damaged, diseased cell or tissues are replaced or repaired by using stem cells. Hence, stem cell banking is expected to support the stem cell therapy market growth.
Increasing number of approvals from regulatory authorities are expected to drive growth of the global stem cell therapy market. For instance, in March 2018, TiGenix NV and Takeda Pharmaceuticals received central marketing authorization from the European Commission to market Alofisel (an allogeneic stem cell therapy) in Europe. This therapy is used for the treatment of complex perianal fistulas in adult patients.
Key players in the stem cell therapy market are focused on launching new products in order to strengthen their position in the market. For instance, in November 2015, Osiris Therapeutics, Inc. launched its new product Stravix. Stravix is a viable cryopreserved human placental tissue, and is a used in soft tissue repair therapies.
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Moreover, increasing research and development activities around the world are expected to propel the stem cell therapy market growth. For instance, in December 2017, Mayo Clinic initiated the clinical phase I study on safety and feasibility of mesenchymal stem cells therapy in patients with recent intracerebral hemorrhage. This therapy is used for treating acute spontaneous hemorrhagic stroke. The study is expected to complete in December 2020.
Furthermore, In October 2017, University of California, San Francisco, U.S. initiated the clinical phase I study to evaluate the safety and efficacy of “In Utero Hematopoietic Stem Cell Transplantation” for treatment of fetuses with alpha thalassemia major. This is a blood disorder which reduces production of hemoglobin. The study is expected to complete in February 2024.
Major players operating in the global stem cell therapy market include Osiris Therapeutics, Inc. Novartis AG, GlaxoSmithKline Plc., MEDIPOST Co., Ltd., Anterogen Co., Ltd. Pharmicell Co., Ltd. Holostem Terapie Avanzate S.r.l. JCR Pharmaceuticals Co., Ltd. NuVasive, Inc. RTI Surgical, Inc., and Fibrocell Science, Inc.
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