Stem Cell Therapy Market to Grow Rapidly Over Next Decade
September 13, 2007 - Millennium Research Group (MRG) conducted a detailed analysis of the stem cell therapy market in its "U.S. Markets for Stem Cell Therapies 2007" report, which shows while the market for stem cell therapies is in its infancy, it will grow rapidly as products are approved in the U.S.
Today, only two stem cell products are on the market, but by 2017, the study says almost 90 are expected to be available.
Stem cells have regenerative capabilities, and promise lasting treatments for chronic disorders and potential cures for currently incurable diseases. In 2007, the U.S. stem cell therapies market earned more than $25 million in revenues, with only two orthopedic products available in the U.S. - Osiris Therapeutics’ Osteocel, and Blackstone Medical’s Trinity. Aside from these two products, the development of the U.S. market for stem cell therapies is largely dependent on the success of clinical trials, regulatory approval, and public acceptance. The first products in the cardiovascular, diabetes, neurological, and tissue and organ stem cell therapy markets are expected to enter the market between 2009 and 2013. The study says the entry of these products will open up a new realm of treatable disorders, offering hope to patients and vast market potential.
“This market has almost everything going its way,” says Chris Schutz, senior analyst at MRG. “The big question mark however is the political and public support. The prevalence of potentially treatable disorders, unmet medical needs, rising health care costs, growth in the aging population, and the success of the first stem cell therapy products are all factors that will drive this market upward through 2017.”
The "U.S. Markets for Stem Cell Therapies 2007" report includes coverage of companies offering or developing products for the stem cell therapy market, including Aastrom Biosciences, Advanced Cell Technologies, Arteriocyte, Blackstone Medical, Cytori Therapeutics, Geron, Harvest Technologies, International Stem Cell Corporation, and Osiris Therapeutics.
For more information: www.mrg.net, www.decisionresources.com
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