The U.S. market for stem cells in regenerative medicine is expected to increase from $112.0 million in 2007 to an estimated $423.1 million by the end of 2012, a compound annual growth rate (CAGR) of 30.5%.
Stem cell banking was valued at $58.9 million in 2005 and $65.9 million in 2007. This is expected to rise to $155.7 million in 2012, for a CAGR of 18.8%.
Human adult stem cells for cell-based therapeutics were worth $21.4 million in 2006. This increased to $28.1 in 2007 and should increase to $173.8 in 2012 at a CAGR of 44.0%.
STUDY GOALS AND OBJECTIVES
BCC’s goal in conducting this study was to determine the current status of stem cell technology and its applications and assess its growth potential over a 5-year period from 2007 to 2012. We are particularly interested in the position of adult stem cell technology and applications as compared to the development and applications of embryonic stem cells. Additionally, we are interested in the market potential of emerging breakthroughs in stem cell research such as induced pluripotent stem cells (iPS).
Our key objective is to present a comprehensive analysis of the current state of stem cell research and development (R&D) as well as the current stem cell market and its future direction.
REASONS FOR DOING THE STUDY
Stem cell technology has been described as the next revolution in medicine. Therapeutic stem cell applications have been proposed to address a wide range of health care needs. We are interested in determining the current state of stem cell technology, where stem cells are currently being applied, and evaluating the potential growth for stem-cell-based applications. In particular, we are interested in discerning the current technological state and potential growth of adult stem-cell-based applications as compared to embryonic-stem-cell-based applications. Additionally, we are interested in looking forward to emerging advancements in stem cell technology and evaluating the potential impact these advancements could have on the development of stem-cell-based products.
SCOPE OF REPORT
This report encompasses the two major classes of stem cells: adult and embryonic. BCC examined the current state of stem cell technology, focusing on these two major classes as well as emerging breakthroughs in stem cell research and development. Further, BCC evaluated the current stem cell market in the United States (U.S.) and examined the future impact of stem-cell-based technology, presenting forecasts of growth over the next 5 years. Technological issues covering current and emerging stem-cell-based therapeutic applications are also reviewed. Further issues considering stem-cell-based therapeutic research and development and its applications are additionally discussed.
Given the major role that the U.S. plays in the world health care market (both as provider and consumer), this analysis is focused predominantly on the current state of stem cell technology and its applications in the U.S., with some discussion regarding worldwide stem cell technology impact. In addition to technological considerations as well as market issues, we examine governmental (legal and political) as well as social issues regarding the research and development of stem-cell-based therapeutic applications. The present and projected status of stem-cell-based technology is compared for high value applications of cellular therapeutics, engineered tissue for transplantation, and therapeutic stem cell banking. Further, the present and projected status of stem-cell-based therapeutic research applications are projected for high value applications such as cell-based assays, diagnostic tools, and necessary support reagents and materials.
Given the broad application potential of stem-cell-based technology, the present study will be of interest to the life science industry, in particular, to individuals in the biotechnology, pharmaceutical, and medical device markets. Further, it will be of interest to manufacturers of reagents and tools that support the research and development of stem-cell-based products and services.
Further, this report will of be of interest to professionals presently focused in areas of stem cell research, development, and commercialization as well as those surveying potential stem-cell-based opportunities for investment. Additionally, this report will be of particular interest to health care professionals surveying the potential therapeutic application of stem-cell-based technology and its growth.
BCC surveyed approximately 60 companies directly and actively engaged in stem cell focused research and product development to obtain data for this study. Contained within this study are companies pursuing both adult stem-cell-based products as well as embryonic-based stem cell applications. Of particular focus are companies centered on the development of cellular therapeutics, engineered tissue for transplantations, and therapeutic banking of stem cells for future medical applications. Also surveyed were academic stem cell researchers as well as life science industry professionals. Additionally, extensive data was compiled from primary scientific source literature and current financial and trade information as well as government and regulatory sources, both federal and state.
BCC analyst Dr. Steven Munevar holds a Ph.D. in Biomedical Science and is an experienced life science research scientist, having authored high impact, peer reviewed publications spanning cellular biology through molecular and cellular physiology. Further, Dr. Munevar has a strong background in bioengineering, spanning high technology applications in life science/health care settings, biomaterials, biomedical devices, and life-science-related instrumentation. Additionally, Dr. Munevar has an MBA with a focus on new venture creation, particularly in the life sciences. Dr. Munevar is currently the president and CEO of Munevar and Associates, Inc., a life science technology development and commercialization company focused on moving life science innovations from the research bench into the market and to the patient bedside.
Published - Dec-2005|
Analyst - Steven Edwards|
Code - BIO035B
The worldwide market for stem cell, cytokine and growth factor therapies is estimated at $12.7 billion in 2005 and, rising at an average annual growth rate (AAGR) of 10.3%, is expected to reach $20.7 billion in 2010.
Nearly 98% of the market is consumed by blood and immune system treatments, a figure that will shrink slightly to 95% in 2010.
Revenues worldwide for stem cell, cytokine and growth factor therapies for all other bodily systems are expected to rise at an AAGR of 26.4% to just over $1 billion in 2010.
The first off-the-shelf cell therapy approved by the FDA was for wound treatment. Recently, a bone morphogenic protein (BMP) has been approved for the acceleration of spinal fusions.
Published - Mar-2002|
Analyst - Steven Edwards|
Code - BIO035A
Hematopoietic stem cell therapies are still the most widely used and generate the most revenue, as can be seen in the table below. We project this will remain the case through 2007, by which time over $1.3 billion in revenues will be generated by the purchase of products and services in support of these therapies. The average annual growth rate for these products, from 2001 to 2007 is expected to be 29.2%. These revenue projections, like all others in this report, exclude fees charged by physicians for their services and general hospital costs.
Skin, bone, and cartilage are largely derived from mesenchymal stem cells, as are tendons, ligaments, and fat cells (the epidermal layer of skin, however, comes from the ectoderm). Skin replacement to treat ulcers, burns, and surgical wounds was the first "off-the-shelf" living cell therapy to be approved. The progenitor cells for these products are fibroblasts and keratinocytes from newborn human foreskin. Chondrocytes (cartilage producing cells) are used to repair articular cartilage after knee injuries, with additional applications on the way. Combined cell and tissue engineering approaches for repairing bone fractures are being developed. In 2001, we estimate that progenitor cell therapies to replace skin, bone, or cartilage will generate about $43 million in revenues. By 2007, we expect this category to grow ten-fold to $457 million, as indicated above, for an AAGR of 48.1%.
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