Global Animal Stem Cell Therapy Market - 2020-2027
Animal stem cell therapy involves usage of animal's stem cell for the treatment of a certain disease or disorder. The stem cell has an ability to divide and differentiate cell, with particular function useful for fixing body tissues damaged by disease or injury. The animal stem cell therapy process consist of three steps which include compilation of stem cell sample from animals and arranging the sample to concentrate the stem cells. Finally, the therapy involves transferring the stem cells into the affected site for treatment. This therapy increases the expectancy of life in animals, minimizing the side effects. It is available for the treatment of degenerative joint disorders, arthritis, and tendon and ligaments injuries in animals. Stem cell therapy is often used to treat cats, dogs, and horses. However, the recent developments made it possible to use animal stem cell therapy in pig, tiger, and others. The animal stem cell therapy is studied in treatment of the kidney, inflammatory bowel, liver, heart and immune-mediated diseases respectively.
The global animal stem cell therapy market size was worth US$ XX billion in 2019 and further predicted to reach US$ XX billion by 2027, at a CAGR of XX% during the forecast period (2020-2027).
Expanding prevalence of infection in animals with increasing populace and to develop the creature's personal satisfaction. Alongside, the expanding government subsidizing for the and quick endorsements of FDA and assurance of creatures contributing towards the rapid development of the creature undifferentiated cell treatment.
Increasing prevalence of disease in animals to increase the animal's quality of life, the companies concentrate shifting towards animal stem cell therapies. Moreover, the increasing government funding for the safety of animals and fast approvals of FDA for therapy contributing towards the growth of the animal stem cell therapy. The research in animal stem cells offers great potential for understanding fundamental mechanisms of animal development; offering the great opportunities to treat a range of diseases and conditions in animals. This therapy is increasingly recognized as important translational models of human disease for treatment. All these factors perform as drivers for the robust growth of the animal stem cell therapy market.
Animal stem cell therapy is gaining huge traction these days, backed by its ability to use animal's stem cell and extend treatment for their disease or disorders. This therapy increases the life expectancy of animals. In recent years, there is significant growth in the cases of various health issues such as arthritis, degenerative joint disorders, and ligaments and tendon injuries in animals. This factor is supporting the development of the global animal stem cell therapy market.
COVID-19 Impact Analysis
The COVID-19 pandemic has jolted the animal stem cell therapy market in 2020, backed by the decline in the focus on animal stem cell therapy amidst the development of vaccines for the COVID-19 pandemic. Therefore, the market value of animal stem cell therapy has declined in 2020; however, a modest growth can be expected in the market during the forecast period.
The dog segment is anticapted to grow with highest CAGR in the global animal stem cell therapy market over the forecast period, owing to factors such as increasing number of dog owners, which are inclining towards treatment options having no adverse effects on animals. Moreover, the majority of the vendors in the market are targeting dog segment for investments in the research and development for animal stem cell therapy.
Increasing investment in R&D activities in the animal stem cell therapy market is one of the major factor for the growth of the global market. Key purpose of these activities is to track the possibility of using this technology in the treatment of animals apart from dogs, cats, and horses. Therefore, the global animal stem cell therapy market is expected to gather remarkable opportunities in the upcoming years.
Based on geography, the study analyzes the animal stem cell therapy market in the global market, including North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.
North America held a dominant position in the global animal stem cell therapy market due to the increased awareness rate of the therapy. The U.S. characterizes the largest market share in the North America market due to the high demand for the therapy. Asia-Pacific and Europe are showing a considerable growth rate during the forecasted period owing to the growing adoption of the animal stem cell therapy. This market is in underdeveloped countries, compared to the developed countries.
The animal stem cell therapy market is highly competitive, owing to the presence of big food brands. The key animal stem cell therapy players which are contributing to the growth of the global market include J-ARM, U.S. Stem Cell, Inc, Celavet Inc., VetCell Therapeutics, Medivet Biologics LLC, Animal Cell Therapies, Kintaro Cells Power, VETSTEM BIOPHARMA, Magellan Stem Cells, Animal Stem Care, among others. The major players are adopting new product launch and expansion strategies for global growth in the animal stem cell therapy market.
U.S. Stem Cell, Inc. development, and subject to regulatory approval, and the commercialization of autologous cell therapies, especially for the treatment of chronic and acute heart damage. The company's MyoCell, deals with the clinical therapy intended to improve cardiac function in chronic heart failure patients. The company was founded in 1999 and is headquartered in Sunrise, FL.
The global animal stem cell therapy market report would provide access to an approx. 57 market data table, 57 figures and 250 pages.