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Stem Cell News
Stem Cell Therapy Market to Explode by 2017
PR Newswire, September 13, 2007
A recent report conducted by the Millennium
Research Group (MRG) has determined that the industry
is set to explode. Their detailed analysis, US Markets
for Stem Cell Therapies 2007, determined that as
products are approved in the U.S., the market will
grow rapidly despite its current state of infancy. By
2017, almost 90 products are expected to be available,
despite the fact that only two are on the market
today.
Stem cells have the potential to cure diseases that
are currently incurable and can provide lasting
treatments for chronic disorders. This is due to their
regenerative capabilities. Blackstone Medical's
Trinity and US-Osiris Therapeutics' Osteocel were the
only two products available in the U.S. in 2007. Both
are orthopedic products and over $25 million in
revenues were earned by these therapies alone in 2007.
Public acceptance, regulatory approval, and the
success of clinical trials will determine how the rest
of the U.S. market for stem cell therapies develops.
Between 2009 and 2013, the first tissue and organ,
neurological, diabetes, and cardiovascular stem cell
therapies are expected to enter the market. These
products will have vast market potential and offer
hope to patients by opening up a new realm of
treatable disorders.
"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."
Osiris Therapeutics, Blackstone Medical, Geron,
Harvest Technologies, Advanced Cell Technologies,
Aastrom Biosciences, Cytori Therapeutics,
International Stem Cell Corporation, and Arteriocyte,
are the names mentioned in the US Markets for Stem
Cell Therapies 2007 report as companies offering or
developing products for the stem cell therapy market.
Derived from highly proliferative tissues, stem
cells are primal cells. In the human body, every
organ, cell, and tissue is created by these stem
cells. Cancer, diabetes, neurological disease,
orthopedic degenerative disease, retinal disease,
cardiovascular disease, and other chronic and
autoimmune disorders can potentially be cured by stem
cells because of their universality and ability to
repair or replace damaged tissue.
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