The use of stem cells in medicine is evident since 1968 through the achievement of the first bone marrow transplantation. The application of bone marrow transplantation is for treating genetic blood disorders. With various technological advances taking place, the transplanted haematopoietic stem cells are increasingly sourced from peripheral and umbilical cord blood rather than the bone marrow. Beyond bone marrow transplant, there are high near-term expectations for stem cells therapeutics derived from multipotent mesenchymal stem cells; in the long term, pluripotent embryonic stem cells and induced pluripotent stem cells are promising.
The market for the stem cell therapy is expected to witness growth with the increasing research spending to understand the conversion of undifferentiated cell to differentiated stem cell. This is further expected to address neurological disorders such as Parkinson’s and Alzheimer’s. In May 2017 Orthopedic Research & Education Foundation in partnership with the National Stem Cell Foundation granted US$ 800,000 over a three-year period. The will be used towards investigator-initiated clinical research proposals focusing on adult stem cells. Stem cells are like blank slate cells with the ability to become several kinds of different cells in the body. In theory, these cells can replace or repair damaged tissues, eliminating the need for surgery. For example, if injected into a person’s spinal cord, the stem cells mimic spinal cord cells. This peculiarity has drawn attention of researchers to explore the use of stem cells to develop treatment towards various disorders and diseases.
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Some of the cell therapy systems market participants are GE Healthcare, DSS Imagetech, Thermo Fisher Scientific and Octane Biotech Inc.