BCC Research reveals in its new report, THE GLOBAL MARKET FOR STEM CELLS, the global market for stem cells is expected to grow to nearly $10.6 billion by 2018, with a five-year compound annual growth rate (CAGR) of 13.6%. The highest growth will be witnessed in the Americas with growth projections of $2.2 billion in 2014 to $3.9 billion in 2019.
Unlike other potential applications of bioscience, stem cell technology has already produced a number of significant products in important therapeutic areas. The possibilities for successful stem cell therapy are almost beyond estimation, and the urgent need to develop this field is overriding the established, step-by-step approach to proceeding from basic science to practical applications. Because of the massive size of the market, developing a stem cell product line represents a significant financial opportunity for research supply companies.
The major market for stem cells will be their use in the treatment of disease, and there is already a population of companies specializing in developing stem cells directed toward specific disease targets. This market opportunity is still largely at an early, experimental stage with the exception of stem cells taken from the patient's own bone marrow to treat conditions such as leukemia.
"Stem cells can be used in pharmaceutical research, to improve drug target validation and toxicology screening," says BCC Research pharmaceutical and medical analyst Paul Evers. "However, its influence will be mitigated to a considerable extent as the industrial installation segment continues to scale up its adoption of the technology."
THE GLOBAL MARKET FOR STEM CELLS provides an overview of the detailed market, technology, and industry analyses to help readers quantify and qualify the market for prescription drug products. Important trends are identified and sales forecasts by product categories and major country markets are provided through 2018.
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