STEM CELL MARKET – Stem Cell Therapy to Redefine Regenerative Medicine
Faced with increasing challenges, such as costly treatments and treatments that are palliative rather than symptomatic, the global healthcare industry today is gradually transforming itself. With few existing therapies capable of curing or significantly changing the course of a disease, healthcare providers are starting to look toward regenerative medicine as a viable alternative.
Regenerative medicine represents a new paradigm in human health with the potential to resolve unmet medical needs by addressing the underlying causes of diseases. It has the potential to cure diseases like we have never seen before. Because of this, the market, especially in the area of stem cell therapy, will continue to experience positive growth, boosted by support from other sectors.
Regenerative Medicine initiatives are now attracting new public and private funding. Although Stem Cell Therapy will continue to be the largest market segment of Regenerative Medicine, cross segment therapies that combine the use of immunology, genetic, and stem cell therapy are rapidly advancing.
Regenerative medicine has also been an area of interest for major pharma companies, many of which have set up their own R&D units or have acquired stakes/invested in regenerative medicine companies. Major pharmaceutical companies that have done so include Pfizer, Johnson & Johnson, and Teva Pharma.
WHY STEM CELL THERAPY?
In this space, cell therapy is the fastest growing segment of regenerative medicine and also the largest. Globally, the stem cell therapy market is expected to be worth $40 billion by 2020 and $180 billion by 2030.
Cell therapy involves the use of living cells to replace or augment damaged or diseased cells and tissues. It has been used for various conditions. The largest number of marketed cell therapy products is used for the treatment of notably non-healing wounds/skin (46%) and muscular-skeletal injuries (35%). This trend will change as more and stem cell therapy products for cancer and heart disease complete their clinical trials and are approved for market release.
Factors that are driving stem cell manufacturing in the short-term include aging populations in need of alternative medicine and in the long-term, new evidence that stem cell therapy works. However, an area of concern in the immediate future and long- term remains the lack of early stage funding and the inherent variability in living cells culture and manufacturing.
Despite this, it is expected that investors will increase support for early and mid-stage clinical trials as this fast-moving market continues to develop and show promise.
To view this issue and all back issues online, please visit www.drug-dev.com.
Dr. Jane C. Andrews is a Senior Consultant with Frost & Sullivan’s Transformational Health practice and considered a thought leader in the life sciences industry. She has a diverse and multidisciplinary background with particular expertise in biomedical and integrated applied sciences, reproductive science, animal health, cell culture and imaging. Her current career focus is in vitro diagnostics, medical devices, alternative animal models, and pharmaceuticals. She earned her PhD in Life Sciences from the University of Wisconsin-Madison. For more information about Frost & Sullivan’s global Transformational Health practice, email Kayla.Belcher@frost.com.
Total Page Views: 1256