Stem Cell Therapy To Skyrocket by 2017

The Millennium Research Group (MRG; Toronto, Canada), a provider of strategic information to the healthcare sector, has conducted a detailed analysis of the stem cell therapy market, which revealed that although the market for stem cell therapies is still in its infancy, it would grow rapidly as products are approved in the United States. Currently, only two products are on the market, but by 2017, almost 90 are expected to be available.

Stem cells are primal cells that are derived from highly proliferative tissues. These cells are precursors to every organ, tissue, and cell in the human body. Because of their universality and ability to repair or replace damaged tissue, stem cells have the potential to cure injuries and diseases such as orthopedic degenerative disease, cardiovascular disease, diabetes, neurologic disease, cancer, retinal disease, and other chronic and autoimmune disorders.

Because stem cells have regenerative capabilities, they have potential for lasting treatments for chronic disorders and potential cures for currently ‘incurable' diseases. In 2007, the US stem cell therapies market earned over US$25 million in revenues, with only two orthopedic products available in the United States--Osiris Therapeutics' (Baltimore, MD, USA) Osteocel, and Blackstone Medical's (Springfield, MA, USA) Trinity. Aside from these two products, the development of the US market for stem cell therapies is mostly dependent on the success of clinical trials, regulatory approval, and public acceptance.

The first products in the cardiovascular, diabetes, neurologic, and tissue and organ stem cell therapy markets are expected to enter the market between 2009 and 2013. The entry of these products will open up a new field of treatable disorders, offering hope to patients and enormous market potential.

"This market has almost everything going its way,” remarked 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.”


Related Links:
Millennium Research Group