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The global Stem Cell Therapy Market is expected to reach USD 3,693.6 Million by 2027, according to a new report by Emergen Research. The stem cell therapy market is experiencing increased demand due to the rise in the number of clinical trials all over the world. Stem cells are applicable to the development of regenerative medicine, commonly used in the field of dermatology. However, the demand for stem cell applications in the oncology segment will witness the highest growth due to several pipeline projects present for the treatment of cancer or tumors.
Allogeneic Stem Cell Therapy dominated the segment of stem cell therapy by type. Allogeneic transplant is recommended to those patients who have a high risk of relapse even after successful treatment with chemotherapy. An increase in the occurrence of cancer relapse has propelled the demand for the segment. The segment has an added advantage as they manufacture their own immune stem cells. These cells have the potential to kill cancer cells that are left behind after high-dosage treatment with cytotoxic drugs.