November 07, 2009 -- The Healthcare practice at research and consulting firm MarketsandMarkets reports that the global stem cell market is growing rapidly, driven by the increasing demand for stem cell treatments for many diseases. The enormous potential of stem cells in the treatment of chronic and several incurable diseases is boosting the overall stem cell therapy market. Stem cells also have applications in regenerative medicine, drug discovery and development in cell-based assays for ADME and toxicity studies.
MarketsandMarkets states that "Stem cell have vast potential in disease areas such as cardiovascular, neurological, diabetes, Parkinson’s and Alzheimer’s with various clinical trials underway in the mentioned focus areas." The use of stem cells as a drug discovery tool is a new development in this area which is driving the market pharmaceutical giants.
According to the organization’s report, adult stem cells form the chief share of the market, based on two factors. These factors are availability of safety and efficacy data on adult stem cells, and the fact that they are the only cells presently marketable as a therapy.