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US Stem Cell Market to Grow 45% Annually Through 2011

The stem cell market has been growing at a fast pace for the past few years and despite recession, the US continued to witness positive developments and massive investments in this industry.

 

Using stem cells, researchers in the US are coming up with new outcomes that will make a paradigm shift in drug discovery and the medicine world.

The country has witnessed some major achievements in the treatment of diseases by adopting stem cell technologies and products. Many such positive factors are contributing to the growth of the stem cell market in the US, which is likely to register a CAGR growth of around 45% during 2011-2013.

Better outcomes from the stem cell research can help the government and authorities in reducing escalating healthcare costs and developing new treatments. Moreover, stem cells can be used in finding innovative ways for drug discovery and developments. Some of the unique properties of stem cells are making them the favorite of the US physicians as well as patients. Though the debate over ethical issues still exists, the country is well recognizing many benefits and utilities of stem cell related therapies.

The government funding for stem cell research is one of the prominent issues that has had a huge impact on the market performance. Support from the National Institutes of Health (NIH) and state associations, such as California Institute for Regenerative Medicine (CIRM) and New York State Stem Cell Science (NYSTEM) in conducting research and encouraging researchers has always backed the industry and will continue to do the same in future. The report provides an effective insight of this regard.