Stem cells are divided into two major classes; pluripotent and multipotent. Pluripotent stem cells are 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.

Increasing expansion of facilities by market players for stem cell therapies is expected to propel growth of the stem cell therapy market over the forecast period. 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 offers 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, a medtech company entered into a collaboration with AstraZeneca Pharmaceuticals. Under this collaboration, AstraZeneca utilized Procella Therapeutics stem cell technology for the development of stem cell therapies in cardiovascular diseases. Moreover, in April, 2019, CelluGen Biotech and FamiCord Group collaborated to develop new stem cell-based drugs and advanced medical therapies (ATMP)

Major Company Profiles Covered in This Report:Magellan, Medipost Co., Ltd, Osiris Therapeutics, Inc., Kolon TissueGene, Inc., JCR Pharmaceuticals Co., Ltd., Anterogen Co. Ltd., Pharmicell Co., Inc., and Stemedica Cell Technologies, Inc.

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Increasing research and development activities by the market players are one of the major factors that are expected to drive growth of the stem cell therapy market over the forecast period. For instance, in July 2018, the Emory Orthopaedics & Spine Center, in collaboration withSanford Health, Duke University, Andrews Institute, and Georgia Institute of Technology, received US$ 13 million grant from the Marcus Foundationfor a multicenter clinical trial studying stem cell options for treating osteoarthritis.The Phase 3 trial was initiated in March 2019, and is expected to complete by December 2021. Moreover, in December 2017, Mayo Clinic initiated the clinical phase I study on safety and feasibility of mesenchymal stem cell therapy in patients with intracerebral hemorrhage. This therapy is used for treating acute spontaneous hemorrhagic stroke. The study is expected to complete by December 2020.

Moreover, increasing product launches by key players is expected to boost demand for stem cell therapy over the forecast period. For instance, in August 2017, LifeCell, a healthcare service provider, launched an advanced umbilical cord-stem cell collection kit which offers enhanced protection to neonatal stem cells from environmental damage and temperature fluctuations.

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