The global neural stem & progenitor cell products market is anticipated to witness moderate growth during the forecast period between 2021 and 2031.
Neural stem & progenitor cell products are multi-potent, self-renewal cells that help to distinguish into the main phenotypes of the nervous system in a human body.
Some of the commonly-deployed cells include oligodendrocytes, astrocytes, and neurons. Neural stem & progenitors can be obtained in two forms- in vitro and in vivo.
The COVID-19 pandemic adversely affected the neural stem & progenitor cell products market. With key resources such as doctors and nurses assigned to treat patients suffering from the virus, the number of neurological surgeries performed at traditional healthcare infrastructure facilities witnessed a decline.
This led to a decrease in demand for neural stem & progenitor cell products and negatively impacted the overall market.
Rising awareness about different neurological disorders globally is the key growth driver for the neural stem & progenitor cell products market.
In addition to this, government initiatives and measures, creating awareness about neural stem & progenitor cell products, and throwing light on the benefits of these products are expected to fuel the growth in the overall market.
Government initiatives and measures, promoting the use and benefits of neural stem and progenitor cell products is expected to bolster the market growth in future.
Innovations to existing products could help increase demand which, in turn, would propel market growth.
The pharmaceutical industry is expected to make the largest contribution to the overall market in the years ahead owing to product features such as plasticity and infinite limit for self-renewal.
The global neural stem and progenitor cell products market is extremely competitive, with the presence of several prominent players. Many of these players are expected to hold a large share in the overall market, in the years ahead.
Well-established market players could look to collaborate with the lesser-known players in a bid to expand their market presence and increase their revenue share.
R&D undertakings to produce improved quality of products that would meet more requirements of customers could be a key growth strategy for the prominent market players, in the years ahead.
The lesser-known players will seek support from governments and private investors, in terms of funding, which could benefit them in their long-term growth.
A few leading players in the overall market include Thermo Fischer Science, BD Biosciences, Life Technologies Corporation, Stem Cells Technologies, Lonza, and Neural Stem.
The global neural stem & progenitor cell products market is classified into five regions, namely, North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
North America is expected to offer lucrative growth opportunities for the global market owing to increasing awareness about neurological diseases in countries such as US and Canada.
The presence of several well-known market players in these countries is expected to fuel market growth in North America.
Europe is anticipated to provide profitable growth opportunities due to superb healthcare infrastructure facilities such as hospitals and clinics in countries such as Germany and UK.
Asia Pacific is expected to witness moderate growth in the global neural stem & progenitor cell products market due to developing healthcare infrastructure facilities in countries such as India and Thailand.
Other regions of the world such as Latin America and Middle East and Africa are anticipated to witness sluggish growth in the overall market, in the years ahead owing to lack of complete awareness about these products in countries, belonging to these regions.
N/A
Copyright © Transparency Market Research, Inc. All Rights reserved
Trust Online
Neural Stem & Progenitor Cell Products Market
