New York, June 27, 2022 (GLOBE NEWSWIRE) -- The global animal stem cell therapy market recorded sales of around US$ 249.9 Mn in 2021 and the market is predicted to experience healthy growth over the years ahead at a CAGR of 5.2% (2022 to 2032).

Animal stem cell therapies are treatments for disorders such as arthritis, soft tissue injuries, traumatic fractures, tendonitis, inflammatory bowel disease, and others that are given to animals. Hematopoietic stem cells and mesenchymal stem cells are used in these treatment procedures.

As the focus on giving animals a better quality of life grows, so does the adoption of such therapies across the world. The market for animal stem cell therapy is predicted to continuously increase owing to the growing need for higher levels of veterinary care.

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Regulatory bodies are also encouraging veterinary regenerative medicine research & development.

The European Commission has approved a few stem cell-based products within the region.

The animal stem cell therapy market is moderately fragmented with a few key market players and presents numerous opportunities for new market entrants to create a foothold in the industry. Increased pet adoption rate can be a beneficial factor for manufacturers of stem cells to expand into emerging markets.

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Key Takeaways from Market Study

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With rising disposable incomes and higher adoption rate of pet animals, the global market for animal stem cell therapy is set to gain traction over the coming years, says an analyst of Persistence Market Research.

Market Competition

Key animal stem cell therapy providers are investing in innovating veterinary regenerative medicines and they are also coming up with new product launches for the well-being of animals.

Along with product innovation, market players are also aiming for various collaborations to strengthen their R&D in the field of animal stem cell therapy.

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What Does the Report Cover?

Persistence Market Research offers a unique perspective and actionable insights on the animal stem cell therapy market in its latest study, presenting historical demand assessment of 2012 2021 and projections for 2022 2032.

The research study is based on product type (hemopoietic stem cells and mesenchymal stem cells), source (allogeneic and autologous), indication (osteoarthritis, soft tissue injuries, traumatic fractures, tendonitis, inflammatory bowel disease, and others), species (canine, feline, and equine), and end user (veterinary hospitals, veterinary clinics, and veterinary research institutes), across seven key regions of the world.

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Animal Stem Cell Therapy Market projected CAGR of 5.2% for the next ten years (2022-2032) Persistence Market Research - GlobeNewswire