Although still in its infancy, stem cell therapy market to grow rapidly
over next decade
WALTHAM, Mass., Sept. 13 /PRNewswire/ -- Millennium Research Group (MRG) has conducted a detailed analysis of the stem cell therapy market in its US Markets for Stem Cell Therapies 2007 report. The analysis reveals that although the market for stem cell therapies is in its infancy, it will grow rapidly as products are approved in the US. Today, only two products are on the market, but by 2017, 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 US stem cell therapies market earned over $25 million in revenues, with only two orthopedic products available in the US-Osiris Therapeutics' Osteocel, and Blackstone Medical's Trinity. Aside from these two products, the development of the US 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 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 US Markets for Stem Cell Therapies 2007 report includes coverage of
companies offering or developing products for the stem cell therapy market,
|SOURCE Millennium Research Group|
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