Neural Stem & Progenitor Cell Products Market to Register Substantial Expansion by 2024
The mechanism by which neurons are created through progenitor cells or neural stem cells is known as neurogenesis. During prenatal development, neurogenesis is active and is accountable for populating the brain with neurons. Hormones such as testosterone mainly influence the rate of neurogenesis mechanism. Neural stem and progenitor cells have enough capability to carefully perform pharmacology assessment for drugs designed to impact brain physiology or function. Neural stem cells also show potential in killing numerous cancers and gliomas.
Based on application, the global Neural Stem & Progenitor Cell Products Market can be segmented into personalized medicines, neural tissue engineering, neurotoxicity testing, drug target validation and testing, cellular therapies for the treatment of central nervous system conditions, and others. In terms of end user, the market can be classified into private labs, commercial labs, government laboratories, and academic labs.
The report provides a comprehensive analysis of the global neural stem and progenitor cell products market. It does so by providing valuable insights into numerous important parameters of the market including its dynamics, technological developments, geographical landscape, and competitive landscape.
Since brain disorders are more likely to affect people of old age, the global neural stem and progenitor cell products market will grow mainly due to increased pool of geriatric population. According to the World Health Organization (WHO), over 14.1% of the world population will be affected by neurological disorders by 2020. The report by the WHO is expected to further boost the market, luring product manufacturers. In addition, enhanced understanding of the nature of neurological diseases and heavy investment in R&D will supplement the growth of the said market.
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Pharmaceuticals is a thriving sector in the global neural stem and progenitor stem cells market. Key pharmaceutical players have shown interest in neural stem cell product development due to their plasticity and ability to develop into the main phenotypes of the nervous system. Its limitless capacity for self-renewal also acts as a plus point. Development of new drugs is costly and bringing new drugs into the market is highly unpredictable, thus, there is mounting pressure on pharmaceutical companies to minimize late-stage product failures. This includes unexpected neurotoxic effects that ascend when candidate drugs enter the clinical testing stages.
The global neural stem and progenitor cell products market is geographically categorized into Europe, Asia Pacific, North America, and Rest of the World. Among the mentioned regions, North America is leading the pack due to the presence of major market players in this region and far-reaching technological advancements. It is expected to largely contribute to the market during the forecast period as well. Growing responsiveness among people about neurological conditions and rising government initiatives are projected to supplement the neural stem and progenitor cell products market in this region.
Asia Pacific is another lucrative market for neural stem and progenitor cell products. The market is expected to grow further over the said period owing to better infrastructure, improved healthcare facilities, and product expansion in the developing countries of Asia Pacific such as China, India, Malaysia, and Japan.
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Stem Cells Technologies, Life Technologies Corporation, EMD Millipore, Neural Stem, Lonza, NeuroGeneration, AlphaGenix, Inc., SA Biosciences, BD Biosciences, Thermo Fisher Scientific, and R&D Systems are the prominent players operating in the global neural stem and progenitor cell products market.