Product ID: SQMIG35H2162
Report ID:
SQMIG35H2162 |
Region:
Global |
Published Date: March, 2024
Pages:
219
|
Tables:
65 |
Figures:
75
In 2022, North America dominated the stem cell therapy market with the largest revenue share of 44.56%. This can be attributed to several factors, including the presence of innovative companies and key market players in the region, leading to a higher penetration of stem cell therapy products. North America is known for its strong biotechnology industry, extensive research and development activities, and a focus on promoting personalized medicines. These factors contribute to the region's leading position in the market. Additionally, the growth in North America is further supported by government initiatives aimed at promoting stem cell therapies.
Asia Pacific is expected to exhibit rapid growth in the stem cell therapy market, with a projected compound annual growth rate (CAGR) of 16.09% during the period of 2023-2030. This growth is driven by factors such as strong product pipelines of stem cell-based therapies and a large patient population base in the region. The incidence rate of diseases like cancer, neurological disorders, and diabetes is increasing, creating a demand for advanced treatments such as stem cell therapies. Furthermore, governments in the Asia Pacific region are actively funding and supporting stem cell research to accelerate advancements in the field.
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Product ID: SQMIG35H2162