Rising prevalence of various diseases such as cancer and cardiovascular diseases, and potential of stem cell therapy in the management of these diseases is expected to drive growth of the stem cell assay market over the forecast period. According to the American Cancer Society, in 2017, cancer was the second most common cause of death in the U.S., which accounted for nearly 1 out of every 4 deaths. Novel therapies such as stem cell transplant and stem cell therapy could potentially improve medical outcomes of chronic diseases. Also, pure stem cells are required to conduct research for various purposes. Stem cell transplant could replace the neurons damaged by spinal cord injury, stroke, and Alzheimer’s disease.
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These factors are expected to drive growth of the stem cell assay market over the forecast period. Moreover, organizations such as California’s Stem Cell Agency is indulged in the development of new stem cell based therapies for chronic diseases such as cancer and rare diseases. For instance, manufacturers such as Sangamo Therapeutics and Fate Therapeutics are working on stem cell based therapies for diseases such as β-Thalassemia and cancer respectively. The therapies are ST-400 Autologous HSPC Transplant and FT516: a natural killer cell immunotherapy respectively. Moreover, due to significant increase in the researches and studies based on stem cells, the stem cell assay market is expected to witness significant growth over the forecast period.
However, if stem cells are not properly differentiated into required adult cell type, transplanted stem cells may revert back to teratomas (cells forming teratoma) and there is a possibility of transplant rejection always. This is expected to restrain growth of the stem cell assay market.
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