Stem cell therapy has always been long talked about and this stream of treatment gets an upper hand with the rising prevalence of chronic diseases.
With chronic diseases likely to make 70 per cent of all deaths by 2030, stem cell therapy has gained momentum in the recent times. Limited physical activities, long working hours, over drinking and unhealthy eating habits have all led to the increase of chronic diseases. And the stem cell therapy market has stepped into growth.
With the growth, most of the stem cell companies are investing in strategic partnerships. It is a partnership where two companies do not compete directly with each other.
Though stem cell therapy is predicted to grow, certain limitations are pointed out. The high cost of stem cell therapy is considered to be a hurdle in the growth of the market. Most of the countries are focussed on public health care. The average cost of stem cell therapy in the United States is between 20,000 dollars to 25,000 dollars as per DVCSTEM. In Asia, the cost may come around 50,000 dollars, Mexico 33,000 dollars and in Central America 30,000 dollars.
The stem cell therapy is predicted to have losses in 2020. It is predicted to decline to 8.62 billion dollar market in 2020 from the 8.73 billion dollar in 2019. Covid pandemic is one of the main causes of this down market.