According to the latest research by InsightAce Analytic, the Global Cancer Stem Cells Market is valued at US$ 2.1 Bn in 2023, and it is expected to reach US$ 4.5 Bn by 2031, with a CAGR of 9.7% during the forecast period of 2024-2031.
According to the latest research by InsightAce Analytic, the Global Cancer Stem Cells Market is valued at US$ 2.1 Bn in 2023, and it is expected to reach US$ 4.5 Bn by 2031, with a CAGR of 9.7% during the forecast period of 2024-2031.
Market Analysis:
Stem cells in cancer are a kind of cancer cell that can transform into any cell in a tumor sample; they are very similar to normal stem cells in many respects. The cancer stem cell business is growing rapidly worldwide due to the rising incidence of cancer, the expansion of research and development efforts, and the acceptance of stem cells.
In addition, a number of groups on a worldwide scale are conducting their research and coordinating their efforts to find better ways to use cancer stem cell therapy. However, the industry is expected to be hindered by regulatory hurdles related to the approval and utilization of stem cell therapies. Also, the market is expected to see a slowdown throughout the projected period due to specific manufacturing and pharmacological challenges related to this cell therapy development.
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Moreover, there is a growing need for a safe and effective treatment that can eradicate all cancer cells from the body while minimizing the chances of recurrence because the global prevalence of cancer continues to rise. This has led to a dramatic increase in the budgets allocated to cancer research and the development of novel treatment methods. These factors are expected to drive the growth of the cancer stem cell market during the projected timeframe.
Recent Developments:
- In April 2024, STEMCELL Technologies is proud to announce that the U.S. Food and Drug Administration officially classified their innovative EasySepTM Human Bone Marrow CD138 Positive Selection Kit as a groundbreaking in vitro diagnostic medical device for hematopoietic cell enrichment.
- In March 2024, Merck, a frontrunner in the scientific and technological industries, introduced the world to the first comprehensive, laboratory-validated genetic stability test. Accelerating biosafety assessment and the transition into commercial production, the AptegraTM CHO genetic stability assay utilizes whole genome sequencing and bioinformatics.