Stem cell product sales in the United States totaled $36 million in 2007, a 119 percent increase from the previous year, and are expected to reach $87 million, a 144 percent increase, in 2008, according to Robin R. Young, CFA (pictured), a medical industry analyst ranked as one of The Wall Street Journal's "Best on the Street" and among Institutional Investor's top-10.
The projections are based on Young's analysis of adult and human embryonic stem cell products currently sold or in development for the orthopedics, cardiovascular, anti-inflammatory, diabetes, nerve repair, and dental markets.
"In recent months we've seen the largest stem cell product purchases in this fast-growing industry," Young said. "Physicians have already treated several thousands of patients in the United States with stem cell products. Moreover, the results of the clinical trials involving these types of products have been very impressive. This is a transformational year with the first-ever human embryonic stem cell products expected to enter the clinic."
Young provided additional market data at the 3rd Annual Stem Cell Summit, which took place Feb. 26 in New York City. The meeting was slated to be the largest gathering of stem cell company executives, scientists, investors, and physicians. Attendees learned about the investment opportunities in the stem cell marketplace, the groundbreaking stem cell products physicians are using today, and the growing market potential in terms of revenues.
Young has more than 25 years of experience as an analyst. He is the president of RRY Publications and the organizer of the Stem Cell Summit.
Illustration: RRY Publications.
PR Newswire (02/01/08)
The Earth Times (02/01/08)