The increasing investment in stem cell-based research activities further encourages stem cell-based research that further contributes to the cell therapy market. Moreover, there are charities and non-profit organizations spreading from the US to Australia to UK, which are predominantly making an impact in the market of stem cell therapy and regenerative medicine. The New York Stem Cell Foundation has invested over $150 million in stem cell research over the past few years. Other non-profit organizations working in the cell-based research include the National Stem Cell Foundation and the Anthony Nolan Trust based in UK. National Stem cell Foundation of Australia is further showing promising results for treating neurodegenerative diseases such as Parkinson’s with stem cell therapies.
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Medical Research Council, a UK-based medical research government funding agency, provides research grants that are suitable for intensive research projects that can be short term or long term. A research grant can be awarded up to five years; however, those of two years or less are for trial work only. Applications seeking the support of greater than three years should provide a clear justification as to why a longer period is needed, including due to data collection, follow-up or specific research deliverables. The budget for research grant awards will not typically exceed $1.3 million. In 2014, Congress provided a $2 billion increase in the funds for biomedical research which was greatly needed to support grants for more researches.
Emerging economies likely to account significant contribution in the cell therapy market
The improvement in the economic conditions of emerging economies such as China and India are expected to support the market’s growth. The prime factor for this is a rapidly growing Indian population and a significant share of the middle-class population that cannot afford the western medicines. Moreover, changing healthcare scenarios across India is creating opportunities for an increase in demand for drugs used to treat cancer. The increasing application of cell culture in drugs and cancer treatment is giving rise to the development of cell therapy at a slow rate, though due to economic reasons.
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Stem cell therapy is a promising method for treating patients with a wide range of diseases and injuries. Increasing government funding of scientific research has promoted rapid developments in stem-cell research in China. For instance, in 2012, the Chinese government and UK government have taken an initiative regarding stem cell research, called UK-China Stem Cell Partnership Initiative. At the time of launch, the Medical Research Council (MRC) of UK and the National Natural Science Foundation of China (NSFC) invited proposals to the UK-China Stem Cell Partnership Initiative from various research teams of UK and China. The initiative is aimed at providing funding for collaborative research projects that are primarily focused on basic and preclinical research of relevance to the longer-term development of stem cell-based therapies for human diseases and disorders.
Global Cell therapy Market Segmentation
Global Cell therapy Market – Segment by Region
Rest of Europe
Rest of Asia-Pacific
Rest of the World
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