Canine Stem Cell Therapy Market

Canine Stem Cell Therapy Market to Approach US$ 218.2 Mn by 2026
Persistence Market Research (PMR) has published a new research report on canine stem cell
therapy. The report has been titled, “Canine Stem Cell Therapy Market: Global Industry Analysis
2016 and Forecast 2017–2026.” Veterinary research has been used in regenerative and adult stem
cell therapy and has gained significant traction over the last decade. Canine stem cell therapy
products are identified to have gained prominence over the past five years, and according to the
aforementioned research report, the market for canine stem cell therapy will expand at a moderate
pace over the next few years.
Though all animal stem cells are not approved by FDA, veterinary stem-cell manufacturers and
university researchers have been adopting various strategies in order to meet regulatory approvals,
and streamline and expedite the review-and-approval process. The vendors in the market are
incessantly concentrating on research and development to come up with advanced therapy, in
addition to acquiring patents.
Read Report overview @ https://www.persistencemarketresearch.com/market-research/caninestem-cell-therapy-market.asp
In September 2017, VetStem Biopharma, Inc. received European patent granted to the University of
Pittsburgh and VetStem received full license of the patent then. This patent will eventually provide
the coverage for the ongoing commercial and product development programs of VetStem and might
be also available for licensing to other companies who are rather interested in this field. The other
companies operating in the global market for canine stem cell therapy are VETherapy Corporation,
Aratana Therapeutics, Inc., Regeneus Ltd, Magellan Stem Cells, Animal Cell Therapies, Inc., and
Medrego, among others.
According to the Persistence Market Research report, the global canine stem cell therapy market is
expected to witness a CAGR of 4.2% during the forecast period 2017-2026. In 2017, the market
was valued at US$ 151.4 Mn and is expected to rise to a valuation of US$ 218.2 Mn by the end of
2026.
Burgeoning Prevalence of Chronic Diseases in Dogs to Benefit Market : Adipose Stem Cells
(ASCs) are the most prevalent and in-demand adult stem cells owing to their safety profile, ease of
harvest, and use and the ability to distinguish into multiple cell lineages. Most early clinical
research is focused on adipose stem cells to treat various chronic diseases such as arthritis,
tendonitis, lameness, and atopic dermatitis in dogs. A large area of focus in veterinary medicine is
treatment of osteoarthritis in dogs, which becomes more prevalent with age. Globally, more than
20% dogs are suffering from arthritis, which is a common form of canine joint and musculoskeletal
disease. Out of those 20%, merely 5% seem to receive the treatment. However, elbow dysplasia in
canine registered a prevalence rate of 64%, converting it into an alarming disease condition to be
treated on priority. Thereby, with the growing chronic disorders in canine, the demand for stem cell
therapy is increasing at a significant pace.
Request Sample [email protected] https://www.persistencemarketresearch.com/samples/15550
Expensive Nature of Therapy to Obstruct Growth Trajectory : Expensive nature and limited access
to canine stem cell therapy has demonstrated to be a chief hindrance forestalling its widespread
adoption. The average tier II and tier III veterinary hospitals lack the facilities and expertise to
perform stem cell procedures, which necessitates the referral to a specialty vet hospital with
expertise veterinarians. A trained veterinary physician charges high treatment cost associated with
stem cell therapy for dogs. Generally, dog owners have pet insurance that typically covers
maximum cost associated with steam cell therapy to treat the initial injury but for the succeeding
measures in case of retreatment, the costs are not covered under the pet insurance. The stem cell
therapy is thus cost-prohibitive for a large number of pet owners, which highlights a major restraint
to the market growth. Stem cell therapy is still in its developmental stage and a positive growth
outcome for the market cannot be confirmed yet.