Adult stem cell market growing up

by Alexey Bersenev on March 26, 2008 · 0 comments

in business

Chicago Tribune recently pointed out some interesting facts of the past Stem Cell Summit, which was held in New York city Feb. 26.

The annual Stem Cell Summit brings together the leading industry, investment, medical practitioners, and research innovators within the rapidly expanding field of stem cells and cell therapy.

Some facts from the article:

* stem cell products were virtually non-existent three years ago but are projected at $87 million in sales this year;
* look ahead a decade, and the market could reach $8.5 billion;
* About 11,000 people have been treated in the U.S. with stem cell products in the last two years (Robin Young – a financial analyst);
* In January, Osiris Therapeutics won what is believed to be the largest stem cell contract in history, at more than $220 million;
* U.S. Defense Department’s purchase of 20,000 doses of Prochymal™ (Osiris Tx product) for $10,000 each for a treatment to repair gastrointestinal damage caused by radiation

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