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Asia-Pacific Regions are the Major Markets Involved in the Development of Stem Cell Based Therapeutics
Stem cell therapy is an emerging branch of medicine that has the potential to restore organ and/or tissue function of patients suffering from serious injuries or chronic diseases, in which the body’s own responses are not capable of repairing damaged tissues/organs. These therapies are estimated to hold high therapeutic potential for the treatment of various incurable diseases throughout the world.
Most of the stem cell based therapeutics are in the research and development stage. North America and Asia-Pacific regions are the major markets involved in the development of stem cell based therapeutics. After 2015, developing regions such as Asia-Pacific (China and India), Latin America, and the Middle East are expected to form the new revenue pockets for this market. The stem cell therapy market in these emerging regions is primarily driven by rising regulatory support through favorable government policies, strong product pipeline, and increased licensing activities. Moreover, the presence of a large patient population, low cost of conducting clinical trials compared to developed nations, and growing focus of both international and domestic players on the Asia-Pacific stem cell therapy market are the key factors fueling the growth of the market in these regions.
These regions provide favorable conditions for the growth of market players and have a high demand of stem cell therapy products along with related tools and technologies. As a result of this, a number of players in the stem cell therapy market are focusing on the emerging economies to strengthen their market position. In September 2012, the U.S.-based Vitro Diagnostics, Inc. signed an agreement With StemGenesis, Inc. (U.S.) for exclusive distribution of its products in Chinese provinces. Likewise, in December 2013, Korea-based Medipost Ltd. entered into a licensing agreement with Alkem Laboratories Ltd. (an Indian pharmaceutical company) for its stem cell-based cartilage repair drug Cartistem.
Emergence of induced pluripotent stem (iPS) cells as an alternative to embryonic stem cells (ESCs) is expected to unfold new opportunities for the commercialization of stem cell therapies. Human-induced pluripotent stem cells (iPSCs) were first derived artificially in 2007. iPSCs are adult cells that can be genetically reprogrammed to behave like embryonic stem cells. iPS cells hold similar potential to that of embryonic stem cells for their use in drug discovery and development process, with reduced ethical concerns. As a result, government bodies are increasingly ruling out various initiatives to upsurge the use of iPSCs in stem cell based researches. For instance, Japan has eased its regulatory policies for the approval of iPS-based stem cell research. Consequently, in June 2013, the country approved the world’s first iPS stem cell-based clinical trial for the treatment of age-related macular degeneration (AMD).
Stem Cell Therapy Market by Treatment Mode (Autologous & Allogeneic), Therapeutic Applications (CNS, CVS, GIT, Wound Healing, Musculoskeletal, Eye, & Immune System) - Regulatory Landscape, Pipeline Analysis & Global Forecasts to 2020
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