The COVID-19 tragedy is expected to create a positive impact on the global cancer stem cells market. The bladder cancer segment is projected to grab major share of the market. The targeted cancerous stem cells segment is projected to observe significant growth. The Asia Pacific region is expected to lead the global market throughout the forecast period. The major players of the market are implementing several strategies to withstand their business amidst this catastrophic situation.
At this moment in time, the whole world is in havoc owing to the abrupt outburst of COVID-19 pandemic. However, this pandemic situation has created a positive impact on the global cancer stem cells market. A latest report published by Research Dive reveals that the global cancer stem cells market is anticipated to gather $1,898.3 billion by 2026, rising at a growth rate of 11.8% from 2019 to 2026. The report segments the global market into application, cancer forms, and region. The report provides comprehensive analysis of the impact of COVID-19 on the key drivers, opportunities, limitations, key segments, and top players of the global market.
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Factors Impelling the Market Growth amidst COVID-19 Crisis
Regardless of the outbreak of COVID-19 pandemic, government bodies all over the world are hugely investing on research & development activities to enhance the use of cancer stem cells in the cancer treatments. Additionally, the development of stem cells for stem line banking and developing induced Pluri-Potent Stem Cell (PSC) lines is massively boosting the growth of the cancer stem cells market.
Bladder Cancer Segment to Seize Largest Share of the Market
Based on cancer forms, the report categorizes the global cancer stem cells market into brain, breast, bladder, liver, blood, pancreatic, lung, colorectal, and other. The bladder segment is dominating the market ever since 2018 and is predicted to gather $303.9 million by 2026. This segment is expected to grow majorly owing to the rising number of deaths due to bladder cancer, all over the world. According to the U.S. government, bladder cancer is the fifth most occurring cancer among all other types of cancer, and therefore it is optimistically influencing the global market growth throughout the projected period.
Targeted Cancerous Stem Cells Segment to Experience Considerable Growth
Based on application, the report divides the global market into targeted cancerous stem cells and stem cells-cancer therapy. Among these, the targeted cancerous stem cells segment is anticipated to observe significant growth at a CAGR of 13.0% throughout the projected period. As targeted cancerous stem cells have the ability to attract normal cells, they can be used positively to target cancer cells; this factor is greatly boosting the growth of this segment.
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Regional Breakdown of the Market
Regionally, the report studies the market across North America, Asia-Pacific, Europe, and LAMEA. Among these, the Asia-Pacific region is anticipated to lead the global market by garnering $405.17 million by 2026. This is mostly due to the presence of considerable number of scientists in this region that are involved in R&D activities related to stem cell therapy.
Key Market Players
The prominent players in the global cancer stem cells market are Merck KGaA, AbbVie Inc., Irvine Scientific, Stem Cell Technologies Inc., MiltenyiBiotec, Thermo Fisher Scientific Inc., OncoMed Pharmaceuticals, Sino Biological Inc., BioTime Inc., and others. These market players are implementing various tactics to survive during this pandemic situation.
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