New York, May 14, 2020 (GLOBE NEWSWIRE) — The global Cancer Stem Cells market is forecast to reach USD 2.18 Billion by 2027, according to a new report by Reports and Data. The market for stem cells for cancer is experiencing increased growth due to the rising number of clinical trials globally. Stem cells are used in regenerative medicine, particularly in the field of dermatology. However, its applications in oncology will witness higher growth rate due to a large number of ongoing pipeline projects for the treatment of cancer or tumors.
Cancer has rapidly grown in the coming years. According to the World Health Organization, there were 18.1 million new cases in 2018 and 9.6 million deaths in that very year. The cancer research UK has stated that the population suffering from cancer is expected to grow in the future. It is predicted that there will be 27.5 million new cases each year globally by the year 2040.
Stem cell transplant is a method that uses restored blood-forming stem cells in patients who have had theirs destroyed by the high dosage of radiation or chemotherapy. Embryonic stem cells are the major source of stem cells for therapeutic purposes, owing to their indefinite lifespan and high totipotency. These benefits are expected to propel the demand for the market in the coming years.
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