Wellesley, Mass., July 24, 2017 (GLOBE NEWSWIRE) --
Since the discovery of induced pluripotent stem cell (iPSC) technology, the market has become an important part of the life sciences industry. In the past five years, the global market has grown rapidly, and should continue its pace through 2021, when it should reach $3.6 billion, according to Induced Pluripotent Stem Cells: Global Markets.
This new BCC Research report focuses on the research market as the clinical market has not yet formed. BCC Research forecasts a hefty 11.6% CAGR for this market as it comes of age, as evidenced most recently in December 2016 when Bayer AG and Versant Ventures established the start-up BlueRock Therapeutics. In 2014 the first human iPSC clinical trial started, which yielded an encouraging published report earlier this year about the first macular degeneration patient treated with the sheets of retinal pigmented epithelial cells made from iPSCs. The iPSC clinical research and service market is expected to maintain its rapid growth in next few years.
The drug development and toxicity testing sector is the current major revenue segment, but the market for regenerative medicine is the fastest growing one. The market for the translational medicine research of iPSC is growing quickly, as well. iPSC technology has improved the drug discovery process, particularly in promoting personal medicine and the development of personalized drugs and diagnostic tests. The iPSC technology platform currently is being exploited for research applications to supply products and services to the academic, public research and life science industry sectors
Research Highlights
- The U.S. Food and Drug Administration (FDA) has been authorized to provide orphan drug designations for many of the therapies developed for rare diseases such as Parkinson’s and Huntington’s using stem cells.
- Rapidly growing medical tourism and contract research outsourcing drives the Asia-Pacific stem cell market.
- The pharmaceutical industry needs better cell sources such as iPSC-derived functional cells for drug toxicity testing and drug screening.
"The first iPSC clinical products will most likely enter the market in the next few years," says BCC Research analyst Mike Fan, who authored the report. "Regarding therapeutic solutions for diseases without ethical issues, a series of technical breakthroughs were made in recent years for improving cellular reprogramming, differentiation and large-scale production of GMP- grade iPSCs derived cells toward clinical usability. For the purposes of this report, iPSC products do not include stem cell research and clinical products, which are broadly applicable to any stem cell type."
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.