Stem Cell Therapy Market | Emerging Countries Offer High-Growth Opportunities to Players in the Market

Stem cell therapy is an emerging branch of medicine that has the potential to restore organ and/or tissue function of patients suffering from serious injuries or chronic diseases, in which the body’s own responses are not capable of repairing damaged tissues/organs. These therapies are estimated to hold high therapeutic potential for the treatment of various incurable diseases throughout the world. Most of the stem cell based therapeutics are in the research and development stage. 

North America and Asia-Pacific regions are the major markets involved in the development of stem cell based therapeutics. After 2015, developing regions such as Asia-Pacific (China and India), Latin America, and the Middle East are expected to form the new revenue pockets for this market. The stem cell therapy market in these emerging regions is primarily driven by rising regulatory support through favorable government policies, strong product pipeline, and increased licensing activities. Moreover, the presence of a large patient population, low cost of conducting clinical trials compared to developed nations, and growing focus of both international and domestic players on the Asia-Pacific stem cell therapy market are the key factors fueling the growth of the market in these regions. 

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These regions provide favorable conditions for the growth of market players and have a high demand of stem cell therapy products along with related tools and technologies. As a result of this, a number of players in the stem cell therapy market are focusing on the emerging economies to strengthen their market position. In September 2012, the U.S.-based Vitro Diagnostics, Inc. signed an agreement With StemGenesis, Inc. (U.S.) for exclusive distribution of its products in Chinese provinces. Likewise, in December 2013, Korea-based Medipost Ltd. entered into a licensing agreement with Alkem Laboratories Ltd. (an Indian pharmaceutical company) for its stem cell-based cartilage repair drug—Cartistem.

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Emergence of induced pluripotent stem (iPS) cells as an alternative to embryonic stem cells (ESCs) is expected to unfold new opportunities for the commercialization of stem cell therapies. Human-induced pluripotent stem cells (iPSCs) were first derived artificially in 2007. iPSCs are adult cells that can be genetically reprogrammed to behave like embryonic stem cells. iPS cells hold similar potential to that of embryonic stem cells for their use in drug discovery and development process, with reduced ethical concerns. As a result, government bodies are increasingly ruling out various initiatives to upsurge the use of iPSCs in stem cell based researches. For instance, Japan has eased its regulatory policies for the approval of iPS-based stem cell research. Consequently, in June 2013, the country approved the world’s first iPS stem cell-based clinical trial for the treatment of age-related macular degeneration (AMD).

Key Players in the Vascular Stents Market Adopted Product Launch & Product Enhancements as their Key Growth Strategy

Medtronic, plc (Ireland), Abbott Laboratories (U.S.), Boston Scientific Corporation (U.S.), BIOTRONIK SE & Co. KG (Germany), B. Braun Melsungen AG (Germany), Terumo Corporation (Japan), STENTYS SA (France), MicroPort Scientific Corporation (China), Meril Life Sciences Pvt. Ltd. (India), Vascular Concepts (India), W. L. Gore and Associates (U.S.), C. R. Bard (U.S.), Endologix, Inc. (U.S.), Lombard Medical Technologies (U.K.), Translumina GmbH (Germany), and JOTEC GmbH (Germany) are the major players in the vascular stents market. Product launch and product enhancements were the key strategies adopted by players operating in this market.

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Other players in this market include OrbusNeich (Hong Kong), Aachen Resonance GmbH (Germany), amg International GmbH (Germany), Arterial Remodeling Technologies (France), Bioabsorbable Therapeutics, Inc. (U.S.), Biosensors International Group, Ltd. (Singapore), Devax, Inc. (U.S.), Elixir Medical Corporation (U.S.), S & G Biotech (South Korea), InSitu Technologies Inc. (U.S.), Braile Biomédica (Brazil), Grinm Advanced Materials Co., Ltd. (China), Cook Medical (U.S.), Lifetech Scientific (Shenzhen) Co., Ltd. (China),  Eurocor GmbH (Germany), Fortimedix B.V (Netherlands), InspireMD (U.S.), Medinol Ltd. (Israel), Micell Technologies, Inc. (U.S.), Reva Medical, Inc. (U.S.), Sahajanand Medical Technologies Pvt. Ltd. (India), TriReme Medical Inc. (U.S.), Tryton Medical, Inc. (U.S.), eucatech AG (Germany), ICON Medical Corp. (U.S.), and XTENT, Inc. (U.S.).

Abbott Laboratories (U.S.) is the leading player in the vascular stents market. The company offers a robust product portfolio and has a strong geographic presence. Abbott focuses on continuous product development to maintain its leading position in the vascular stents market. For instance, in May 2015, the company received CE Mark for its Absorb GT1, a fully dissolving stent system. In March 2014, the U.S. FDA approved its Supera Peripheral Stent System.

Medtronic plc (Ireland) is one of the leading players in the vascular stents market. The company’s leading position can be attributed to its strong product portfolio and brand identity in the vascular stents market. The company mainly focuses on product launches and expansion to sustain its growth in the vascular stents market. Some of the recent products launched by the company include the EverFlex Self-expanding Peripheral Stent with Entrust Delivery System (July 2015) and Resolute Onyx Drug-Eluting Stent (DES) (November 2014).

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Companies are focusing on adopting organic and inorganic growth strategies to synergistically develop advanced products in the market. These strategies help market players to strengthen their product offerings, cater to the unmet needs of customers, increase their profitability, and expand their presence in the global market.

The overall growth strategies mapped from 2014 to 2017 include product approvals; product launches and enhancements; partnerships, collaborations, and contracts; expansions; acquisitions; and other developments such as certifications. Approvals, product launches, and enhancements accounted for the largest share of the overall strategic developments mapped in the above-mentioned period. Medtronic plc (Ireland), Abbott Laboratories (U.S.), Boston Scientific Corporation (U.S.), BIOTRONIK SE & Co. KG (Germany), B. Braun Melsungen AG (Germany), TERUMO CORPORATION (Japan), STENTYS SA (France), and MicroPort Scientific Corporation (China) are the companies that majorly adopted these strategies.