Stem Cells Market Is Projected To Witness Growth Based On Increasing Increasing R&D To Develop Therapeutic Solution For Chronic Diseases Till 2020:Grand View Research,inc.
The global stem cells market size is expected to reach USD 170.15 billion by 2020, according to a new report by Grand View Research, Inc. The market is expected to grow because of increasing research and development to develop therapeutic solution for chronic diseases and the huge funding by the government for drug discovery and development to serve the large unmet medical needs. The WHO statistics on Cancer (2012) concluded that it is the leading cause for global mortality and morbidity, with around 14 million new cancer cases and 8.2 million cancer related deaths which is estimated to reach 22 million in next two decades. Stem cells in combination with gene therapy along with DNA repair is anticipated to be used to treat many intractable diseases and is classified under orphan drugs. The California’s Stem Cell Agency has spent around USD 1.4 billion for stem cell research and still has USD 872 million to provide for the same. In addition to this, in 2013 the Nati...