Cancer Stem Cells Market: Effects and Influences of the COVID-19
With the COVID-19 pandemic, industries and businesses have encountered massive loss and downfall. The global market of cancer stem cells is, however, experiencing remarkable growth during this period. Research and developments, product development, partnerships are contributing to the growth of the market.
The outbreak of the COVID-19 pandemic has created havoc across the globe. It has led the world into the horrible chasm of recession recently. The pandemic dragged the businesses and industries into the brink of collapse. Yet, there are certain industries related to the healthcare sector, which are witnessing unexpected growth. The cancer stem cells market is one such industry that has seen a positive impact during this crisis.
Cancer stem cells are also referred to as tumor-initiating cells or TIC. TICs are basically used for the treatment of metastatic stage cancer. This method multiplies the survival opportunity of the patient. Numerous research and development are being carried out to use the benefits of cancer stem cells to cure skin, breast, lung, and brain cancer, which is influencing the global market of cancer stem cells.
Government bodies and healthcare experts around the world are making investments in research & development in the industry in order to enhance the profitability of cancer stem cells in the treatment of cancer patients. Alongside the development of stem cells for stem line funding and evolving induced Pluripotent Stem Cell (PSC) lines are also contributing to the growth of the global market of cancer stem cells.
Current Scenario of the Industry
Research has found that cancer patients are more vulnerable to COVID-19. Patients who have hematological cancer or receiving hematopoietic stem cell transplantation (HSCT) may have a greater risk of COVID-19. A reflective analysis has shown that 20% of 355 patients who died of COVID-19 had active cancer.
The patients more vulnerable to COVID-19 disease are those suffering from lymphoma, leukemia, or myeloma, those with ongoing radical radiotherapy for lung cancer, immunotherapy, cytotoxic chemotherapy, protein kinase inhibitors, antibodies, or poly ADP ribose polymerase (PARP) inhibitors. A patient who had a recent bone marrow or stem cell transplant are also susceptible to the pandemic.
Medical experts have proposed that stem cells-based immunomodulation treatment must be applied as an appropriate, helpful approach to treat COVID-19. Medication trials have begun to develop the remedial approach, although there’s no previous record of the suitability of this approach as a treatment for the COVID-19 disease.
Recent Developments and Researches
Recently, the U.S. Food and Drug Administration (FDA) has permitted GIOSTAR the urgent usage of stem cell methods to treat critical inflammation of the lungs in patients who are detected with COVID-19, under expanded access.
The European Society of Medical Oncology and National Health Service, England, has recommended a tiered method for classifying the patients into different priorities so that they can receive uninterrupted active cancer therapy during the pandemic.
According to the organization, higher priority should be given to patients with a life-threatening or clinically unstable condition. It also includes the conditions when the intercession is expected to result in survival or improved quality of life. Moreover, their regulation mentions that the treatment of the cancer patients who have contracted COVID-19 should be performed in the respiratory or intensive care units instead of the oncology or radiotherapy units.
Another study reflects that CAR-T (Shanghai) Biotechnology, Millennium Pharmaceutical, Azidus Brasil, Stem Cell Arabia, Janssen Research & Development, Pfizer, Tianhe Stem Cell Biotechnologies, Mesoblast, and Tuohua Biological Technology are the other few companies that have recorded significant progress related to the development of stem cell-based therapies to fight COVID-19.
From the above discussion, it has become clear that the COVID-19 pandemic has proved to be very impactful for the cancer stem cells market. The market is growing every passing day with innovations, research, and developments. The increasing rate of mortality and morbidity of the cancer patients who are being diagnosed with the novel virus has surged the demand for cancer stem cell treatment processes to be enhanced. With all the investment, recommendations, and government initiatives, the cancer stem cell market is going to witness a massive growth in the post-pandemic period. According to a recent report published by Research Dive, the global cancer stem cells market was expected to garner a revenue of almost $ 956.6 million in the pre-COVID period. Research Dive has released a recent report stating that the post-COVID market will garner almost $982.5 Million in the post-COVID period.
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