Human Embryonic Stem Cells Market, By Product (Regenerative Medicine, Stem Cell Biology Research, Tissue Engineering, and Toxicology Testing) and By Geography (North America, Europe, Asia Pacific, and Rest of the World) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028
Stem cells are biological cells that can differentiate into other types of cells, and are used for therapeutic purposes. Recent developments or advancements have paved the way for a plethora of potential therapies, due to which, therapies involving human embryonic stem cells are being widely adopted worldwide. Human embryonic stem cells have emerged as attractive candidates for cell-based therapies that are capable of restoring lost cell and tissue function. Furthermore, human embryonic stem cells (hESC) have a high potential for use in treatment and may become a standard of care for cardiac and malignant diseases.
Market Dynamics:
Rise in incidence of cardiac and malignant diseases, increase in focus on the development of stem cell-based therapies, growing demand for regenerative medicines, and increasing support from government and private organizations are major factors expected to drive growth of the global human embryonic stem cells market during the forecast period.
For instance, in April 2021, Vertex Pharmaceuticals received the United States Food and Drug Administration (FDA) Fast Track Designation for VX-880, and the company initiated a clinical trial for VX-880 in patients who have type 1 diabetes with severe hypoglycemia and impaired hypoglycemic awareness.
In February 2020, Global Institute of Stem Cell Therapy and Research (GIOSTAR) announced the inauguration of a new stem cell / cancer research and therapy center in India. This facility represents the latest milestone in global expansion efforts spearheaded by GIOSTAR in India, Mexico, the United States, and numerous other countries.
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