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The burgeoning pool of elderly patients and the dramatic increase in the prevalence of several chronic ailments like cardiovascular diseases and diabetes has raised the need for stem cell-based therapies, which has been favorable for the global market. Stem cell research activities have risen considerably over the decade, as these help researchers better comprehend a variety of diseases as well as conditions to come up with effective treatments. Besides, ease of use, durability and cost-effectiveness of harvesters, technological innovations, and improvements in the design of cell harvester devices should further foster the market growth.
Market Research Future/MRFR believes that the cell harvesting market can potentially procure a growth rate of around 8.75?tween 2020 and 2027. Moreover, the market size is set to touch USD 209.5 million by 2027-end, adds MRFR in its new extensive study. Surge in the global transplantation rate along with the heightened demand for stem cell banking have also bolstered the need for cell harvesting worldwide.
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The latest sources of stem cells, like adipose tissue, embryonic stem cells and umbilical cord have remarkable potential for innovations in regenerative products and cancer treatment, which can possibly boost the market’s growth potential in the years ahead.
To offer an extensive outline of the cell harvesting industry, the MRFR report has considered product Type, Application, and End user.
Scinomix, TERUMO CORPORATION, PerkinElmer Inc., Avita Medical, connectorate, hynoDent AG, ads-tec GmbH, Argos Technologies, Inc., Teleflex Incorporated, Bertin, Arthrex, Inc., Cox Scientific are identified as some of the top vendors in the cell harvesting market.
The Americas and APAC or Asia Pacific coupled with MEA or Middle East and Africa and Europe are the major regions where the cell harvesting industry can witness growth in the coming years.
The Americas is the clear winner in the global market for cell harvesting, given that the region houses a well-established healthcare system with a high budget allocated for the same. Growing concerns regarding the dramatic rise in chronic diseases has raised the demand for cell harvesting in the region. The Center for Disease Control and Prevention reveals that in the year 2017, chronic disorders were the top reason for disability and death in the United States, with 133 million citizens or 45% of the total population suffering from at least one disease.
Europe is just behind Americas in the global market and has been scaling rapidly in view of the increased spending on research activities. Dramatic rise in heart disease, diabetes, spinal cord injuries and Parkinson’s disease in the region has sharpened the focus on cell-based research and regenerative medicine. Also, the growth of the biotechnology sector over the years has been profitable for the regional market.
Asia Pacific can capture the fastest CAGR in the ensuing years, on account of the massive patient pool and the fast-emerging countries with developing healthcare systems. The APAC market for cell harvesting benefits from the rising number of deaths caused by hearth diseases and cancer, which in turn are escalating on the back of changing diets, sedentary lifestyles, consumption of tobacco and high obesity levels. The focus on exploring the potential of stem cells for the treatment of these diseases and more is deemed to be a key growth booster in the following years.
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September 2020 Royal Biologics, a well-known ortho-biologics firm specializing in R&D of live and autologous cellular solutions, has acquired FIBRINET from Vertical Spine LLC. This move is a part of the company’s strategy to bolster its expanding portfolio of live and autologous cellular solutions to facilitate spinal and orthopedic fusion. FIBRINET’S addition to the company and the use of its technology will help surgeons effectively carry out cell harvesting to form a platelet-rich fibrin membrane-scaffold that can be useful during the point of care in various spinal fusion surgeries.
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