Published Date : 23 Jan 20 | Views: 114 | Industry : Life Science
Increasing Demand for
Treatment of Animals is Likely to Fuel the Growth of the Veterinary Hospitals
Segment
The end-user segment of the Animal
Stem Cell Therapy industry is divided into Research Organizations and
Veterinary Hospitals. In veterinary hospitals stem cell therapy offers the most
promising and flexible option to restore function and improve animal health.
Stem Cell Therapy is mainly used for treatment in canines, which is expected to
fuel the growth of the veterinary hospital segment.
The product type segment of the Animal
Stem Cell Therapy industry is classified into Horses, Dogs, and Others.
A Large Number of Pet
Owners Offer Growth Potential for the U.S. Market
The region of North America is
expected to grab a substantial share of the market due to high awareness
regarding pet-care. The U.S. has a huge demand for Animal Stem Cell Therapy due
to a large number of pet owners and increasing government support in animal
healthcare, which is driving the growth of the Animal Stem Cell Therapy industry.
In the Asia-Pacific region, the
increasing adoption of pet animals and the rising number of veterinary and
day-to-day pet care institutions is likely to foster the growth of the market.
Prominent Companies are Keen
to Engage in Strategic Collaborations
Some of the key players
operating in the worldwide Animal Stem Cell industry are VETSTEM BIOPHARMA, Medivet
Biologics LLC, J-ARM, VetCell Therapeutics, Magellan Stem Cells, Celvet Inc.,
Animal Cell Therapies, Animacel, Cell Therapy Sciences, Animal Stem Care, and
Kintaro Cells Power. The market players are involved in strategic
collaborations to improve their market position.
For instance, in 2017 VetCell
Therapeutics announced a collaborative partnership with Western University of
Health Sciences to study treatment of canine atopic dermatitis with stem cells.
Quality Treatment in
Veterinary Care is Expected to Foster the Market Growth
Increasing demand for quality treatment of animals for injury with the help of therapy of transferring stem cells is expected to play a major role in the growth of the market. Increasing prevalence of diseases and disorders in animals and a growing emphasis on providing treatment without side-effects is contributing to the growth of the market. Recent developments in stem cell therapy have enabled treatment of other animals besides dogs, cats, and horses, which is facilitating the protection of animals. This is likely to boost the growth of the Animal Stem Cell Therapy industry over the next few years.