San Francisco, California (PRWEB) May 22, 2014 The global market for stem cells is expected to reach USD 170.15 billion by 2020, according to a new study by Grand View Research, Inc. Growing prevalence of chronic diseases such as cardiovascular and liver disease, diabetes and cancer coupled with the presence of high unmet medical needs in these disease segments is expected to drive market growth during the forecast period. Moreover, increasing government support pertaining to funding R&D initiatives and the growing demand for medical tourism and stem cell banking services is expected to boost the demand for stem cells over the next six years. The future of this market is expected to be driven by opportunities such as the growing global prevalence of neurodegenerative diseases, increasing demand for contract research outsourcing services and the substitution of animal tissues by stem cells in the The stem cells technology market was valued at USD 12.88 billion in 2013 and is expected to grow at a CAGR of over 12.0% during the forecast period. This market was dominated by the cell acquisitions technology segment in terms of share in 2013 owing to the fact that this technology serves as the foremost step to … Continue reading
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