A synopsis of the global canine stem cell therapy market with reference to the global healthcare pharmaceutical industry
Despite the economic and political uncertainty in the recent past, the global healthcare industry has been receiving positive nudges from reformative and technological disruptions in medical devices, pharmaceuticals and biotech, in-vitro diagnostics, and medical imaging. Key markets across the world are facing a massive rise in demand for critical care services that are pushing global healthcare spending levels to unimaginable limits.
A rapidly multiplying geriatric population; increasing prevalence of chronic ailments such as cancer and cardiac disease; growing awareness among patients; and heavy investments in clinical innovation are just some of the factors that are impacting the performance of the global healthcare industry. Proactive measures such as healthcare cost containment, primary care delivery, innovation in medical procedures (3-D printing, blockchain, and robotic surgery to name a few), safe and effective drug delivery, and well-defined healthcare regulatory compliance models are targeted at placing the sector on a high growth trajectory across key regional markets.
Parent Indicators Healthcare
PMR utilizes a triangulation methodology that is primarily based on experimental techniques such as patient-level data, to obtain precise market estimations and insights on Molecule and Drug Classes, API Formulations and preferred modes of administration. Bottom-up approach is always used to obtain insightful data for the specific country/regions. The country specific data is again analysed to derive data at a global level. This methodology ensures high quality and accuracy of information.
Secondary research is used at the initial phase to identify the age specific disease epidemiology, diagnosis rate and treatment pattern, as per disease indications. Each piece of information is eventually analysed during the entire research project which builds a strong base for the primary research information.
Primary research participants include demand-side users such as key opinion leaders, physicians, surgeons, nursing managers, clinical specialists who provide valuable insights on trends and clinical application of the drugs, key treatment patterns, adoption rate, and compliance rate.
Quantitative and qualitative assessment of basic factors driving demand, economic factors/cycles and growth rates and strategies utilized by key players in the market is analysed in detail while forecasting, in order to project Year-on-Year growth rates. These Y-o-Y growth projections are checked and aligned as per industry/product lifecycle and further utilized to develop market numbers at a holistic level.
On the other hand, we also analyse various companies annual reports, investor presentations, SEC filings, 10k reports and press release operating in this market segment to fetch substantial information about the market size, trends, opportunity, drivers, restraints and to analyse key players and their market shares. Key companies are segmented at Tier level based on their revenues, product portfolio and presence.
Please note that these are the partial steps that are being followed while developing the market size. Besides this, forecasting will be done based on our internal proprietary model which also uses different macro-economic factors such as per capita healthcare expenditure, disposable income, industry based demand driving factors impacting the market and its forecast trends apart from disease related factors.
Standard Report Structure
The global canine stem cell therapy market has been segmented into:
The non-invasive stem cell obtaining procedure, augmented possibility of accomplishing high quality cells, and lower price of therapy coupled with high success rate of positive outcomes have collectively made allogeneic stem cell therapy a preference for veterinary physicians. Moreover, allogeneic stem cell therapy is 100% safe, which further supports its demand on a global level. Pet owners are identified to prefer allogeneic stem cell therapy over autologous therapy, attributed to its relatively lower costs and comparative ease of the entire procedure.
Growing number of clinical trials has paved way for the rise in the adoption of canine stem cell therapy in veterinary clinics
The actual market opportunity lies in the growing preference for allogeneic stem cells over autologous stem cells. A number of stem cell therapy products for dogs are under clinical trials, which is anticipated to attract major revenues for the canine stem cell therapy market over the coming years. Currently, VetStem in collaboration with Aratana Therapeutics is making the allogeneic stem cells to treat osteoarthritis in dogs. In 2016, the company submitted a trial data of allogeneic stem cells to the FDA as a part of a licensing application. The licensing application was submitted to FDA in order to achieve marketing approval and sales support in the U.S. The clinical trial registered over 90 dogs in the study and was controlled by placebo.
Furthermore, in May 2017, a nationwide stem cell study was conducted with dogs in the U.S. for the treatment of arthritis, for over a six-month period. This study created a lucrative opportunity for stem cell therapy treatment and a range of possibilities to confirm the efficacy of the technique for arthritis, which resulted in expanded revenue of the canine stem cell therapy market. Lately in 2017, a study named “Stem Cell Injections for Dogs with Chronic Severe Spinal Cord Injuries” was performed on dogs with austere chronic spinal cord injuries including disc herniation or trauma. The objective of the study was to evaluate the clinical outcome of the research on these dogs after transplantation of the canine stem cells.
Agreement among leading veterinary groups for conducting operations is expected to benefit both clinics and hospitals
Growing penetration of veterinary healthcare has exponentially amplified demand for veterinaries and clinics. People seem spend more on veterinary services than on medicines. Several veterinary groups from across the world are combining their operations in order to expand their reach and secure profit in the global marketplace. In February 2017, Independent Vetcare (IVC) and Evidensia announced its intension to work as a combined entity. Evidensia marks strong presence in Northern Europe and IVC in the U.K. The collaboration helped in establishing a dynamic network of leading clinical facilities with about 500 clinics across wight countries and benefit from shared best practice and improved purchasing power. With the augmented number of veterinary clinics and veterinarians, the adoption of canine stem cell therapy is also expected to surge in near future.