Over the last couple of years, the global canine stem cell therapy market has witnessed tremendous courtesy of technological advancements in regards with procuring, using stem cells and also preserving it. One major factor that has proven a boon for this market is that the overall costs of the canine stem cell therapy have slumped significantly. Similarly, stems cells are now being rapidly used in the treatment of several ailments that affect canines.
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The recent coronavirus pandemic had an adverse impact on the growth of the global canine stem cell therapy market. Though this scenario is forecasted to change soon. Several factors including multiple studies showcasing better results along supreme level of safety through canine stem cell therapy have gone up. This is encouraging more veterinarians and pet owners to turn towards canine stem cell therapy. Similarly surging disposable income and rising adoption rates of this therapy directly to this market’s growth. These factors are rampantly driving the growth of this market.
Despite tremendous progress, the regulations regarding safety of stem cell therapy plays a restraining factor to the growth of the canine stem cell therapy market. The most populated countries on this planet, India and China have highest number of pets, and majority of their owners are turning towards stem cell therapy for several ailments. Due to this, the global canine stem cell therapy market is forecasted to witness rapid growth over the period of next few years.
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Key Takeaways – Global Canine Stem Cell Therapy Market:
- In terms of CAGR, global canine stem cell therapy market is growing at 17.5% over the forecast period (2022 – 2030).
- The prevalence of chronic ailments in dogs have gone up drastically over last few years and this is helping the global canine stem cell therapy market grow.
- Another factor that contributes to the growth of this market is that the amount spent on research and development activities along with government funding across the globe has gone up significantly.
- High awareness regarding the treatment of diseases that are chronic in nature, plus the latest diagnosis practices and increased emphasis towards prevention of such diseases even by veterinarians is propelling the demand for canine stem cell therapy.
- The region of Asia Pacific is forecasted to witness growth at the fastest rate for the global canine stem cell therapy market. Higher number of veterinarians and clinics that are specialized in stem cell therapy in nations like China and India is driving the growth of this market in the region.
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Some of the major players operating in the global canine stem cell therapy market are listed below:
- Animacel
- ANIMAL CELL THERAPIES, INC
- Aratana Therapeutics
- Cell Therapy Sciences
- Gallant
- LiteCure, LLC
- Magellan Stem Cells
- Medrego LLC
- Stemcell Vet
- Vetbiologics
- VetNetwork, LLC
- VETSTEM BIOPHARMA
- VetStem Inc
- Other Market Participants
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Global Canine Stem Cell Therapy Market
By Product
- Embryonic stem cells
- Adult stem cells
By Treatment
- Intra-articular
- Intra-lesion
- Intra-venous
By Application
- Arthritis
- Dysplasia
- Tendonitis
- Inflammatory diseases
- Immune Mediated Diseases
- Bone and Spinal Cord Injuries
- Others
By End User
- Veterinary Hospitals
- Veterinary Clinics
- Veterinary Research Institutes
By Region
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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