New York-The
market for stem cell technologies will rise to over $700 million this year, and
given some positive trends could reach over one billion dollars, according to
healthcare market research publisher Kalorama Information. The firm cites newly
permitted US
usage and accompanying research funding in its forecasts, published in its new
report, Stem
Cells: Worldwide Markets for Transplantation, Cord Blood Banking and Drug
Development. Kalorama expresses a range for its market forecast
because some factors are variable.
“Whether we see a worst case or best case scenario in the
stem cell market depends on a number of factors,” said Bruce Carlson, publisher
for Kalorama Information. “A likely scenario is that developers will
continue to expand the utilization of ethically acceptable adult stem cells,
and that patents and royalty payments will not seriously inhibit financial
incentives. We also anticipate that at least a portion of current technologies
under development will prove safe, clear regulations and show substantial
benefits over current therapies.”
According to the report, cell therapies are now largely
confined to a few conditions, especially oncological conditions such as
leukemia, multiple myeloma and non-Hodgkins lymphoma, although certain
non-cancerous diseases like aplastic anemia, immunodeficiency and lupus are
also increasingly addressed with stem cells. Kalorama finds that cord blood
banking is also a source of revenue growth. With a readily available
supply of stem cells that does not require yet-to-be developed technologies to
utilize, umbilical cord blood is one of the least controversial sources of stem
cells and many people support the notion of routinely collecting cord blood at
birth.
The United
States had been among the most vocal
countries in its opposition to embryonic cell research, with several bills
vetoed during the 2000 to 2007 period that would have loosened restrictions on
federal funding. In 2009, the Obama Administration issued Executive Order
13505, “Removing Barriers to Responsible Research Involving Human Stem Cells,”
which explicitly set out to expand NIH support for the exploration of human
stem cell research. As a result, NIH stem cell research funding from 2003
through 2010 has steadily increased, particularly in the past two years.
More information can be found in Kalorama Informations
report on this subject, Stem
Cells: Worldwide Markets for Transplantation, Cord Blood Banking and Drug
Development, which includes market estimates, forecasts, key trends in the
market and regulatory activity.
About Kalorama Information
Kalorama Information, a division of MarketResearch.com, supplies the latest in
independent medical market research in
diagnostics, biotech, pharmaceuticals, medical devices and healthcare; as well
as a full range of custom research services. We routinely assist the media with
healthcare topics. Follow us on Twitter, LinkedIn
and our blog.
Posted by Sean Fenske, Editor-in-Chief, MDT
