The global cancer stem cells market registered an income of about $786.3 million in 2018 and is foreseen to develop at a 11.8% CAGR, outperforming $1,898.3 million by 2026.
The market has witnessed a significant growth previously, but due to the unexpected COVID-19 outbreak, the market will witness additional growth in 2020, due to utilization of cancer stem cells for the treatment of cancer. In addition, several research and development are carried out to cure breast, skin, brain, and lung cancer using CSC’s which in turn is driving the demand of the cancer stem cells market. Our analysts have estimated the condition of the cancer stem cells market during the COVID-19 outbreak, and have come to the following conclusions.
|Realtime BPS||*Estimated market Size, 2020,
|**Real Time market Size, 2020,
|10.3%||11.8%||154||USD 956.6 Million||USD 982.5 Million|
* The numbers are estimated prior to the COVID-19 Pandemic in 2020
** The data will vary depending on upcoming developments announced by the operating players
KEY ASPECTS OF THE INDUSTRY
- BOOMERS AND DECLINERS
Cancer stem cells (CSC’s) also called as tumor-initiating cells (TIC’s). TIC’s are utilized for the treatment of metastatic stage cancer, thus improving the quality of survival cases of cancer patients when treated. Increasing mortality and morbidity rate of cancer around the world which in turn is grabbing the attention of cancer stem cells owing to the potential of CSC’s to treat is grabbing the attention of TIC’s in the forecast period. These factors are positively impacting the adoption of CSC’s across the globe.
However, utilization of radiotherapy and chemotherapy for treating cancer and then using tumor-initiating cells for treatment may lead to infection and bleeding. In addition, these are only specified for the treatment of specified cancer cells due to inheriting property of CSC’s to target specified cancer cells. Moreover, tumor cells present in the bodies cannot be eliminated or treated with initial therapeutic treatment hence it requires combination of treatments to eradicate the tumor cells increasing the treatment durability. These factors are responsible for restraining the market growth in the forecast period.
The COVID-19 pandemic has impacted the cancer stem cells market in a positive way. Increasing mortality and morbidity rate due to cancer around the word is grabbing the attention of cancer stem cells for treatment of cancer detected in metastatic stage. This factor is significantly driving the adoption of cancer stem cells market and will propel the market growth during the COVID-19 outbreak. Moreover, investment from various government bodies, for cell-based research is a considerable factor for the market growth in the projected time frame.
Growing focus on personalized medication and improved R&D activities for cell based therapies to broaden the utilization of CSC’s for treating different type of cancer forms. For example, in 2001 Gleevec, a genetic drug was utilized for the treatment of uncommon type of cancer known as chronic myelogenous leukemia (CML). In addition, utilization of CSC’s for treatment of nervous system cancers such as gliomas, medulloblastoma, and ependymomas. These factors are fueling the market growth in the forecast period.
MANAGING SUCCESS AMIDST
THE PANDEMIC STRESS
The global cancer stem cells market will witness significant growth in 2020 and is anticipated to follow the trend until the end of the forecast period. The rapid growth is majorly attributed to the increased investment for research & development activities that is mainly focused on utilizing the therapeutic effectiveness of stem cells for disease treatment and stem cell banking. Moreover, development of induced pluri-potent stem cells (PSC) lines and social ethical issues associated with PSC. PSC have the ability to self-renew and to develop into different germ cell layers. These factors are expected to increase the demand of global cancer stem cells market in the projected time.
Increasing mortality rate of women accounted due to the breast cancer. According to some report 15% of death among women occurs due to breast cancer after lung cancer and utilization of cancer stem cells for the treatment of noncutaneous breast cancer is growing the demand of the market in the forecast period. In addition, prostate cancer (PC) is most common type of cancer diagnosed among men and mortality rate is increasing. CSC’s are utilized to treat PC in metastatic stage. This is also considerable factor responsible for the growth of the market in the projected time frame.
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Our group of skilled analysts provide a solution to help the companies to survive and sustain in this global pandemic. We support companies to make informed decisions based on our findings resulting from the comprehensive study by our qualified team of experts. Our study helps to acquire the following:
- Long-term and Short-term impact of Covid-19 on the market
- Cascading impact of Covid-19 on the Cancer Stem Cells Market , due to the impact on its extended ecosystem
- Understanding the market behaviour pre- and post-Covid-19 pandemic
- Strategic suggestions to overcome the negative impact on your business or turn the positive impact into an opportunity