Stem Cell Industry Growth in the US
Friday, May 06, 2011
Last night I had the opportunity to attend a panel discussion for the Las Vegas Science Festival at UNLV. Among the panel was our very own Matthew Schissler discussing the future of the Biotech Industry in Las Vegas and what prompted Matt to move CBAI to Las Vegas. The panel included other leaders in technology fields such as nuclear engineering, computer science, aeronautics and marine biology. Why do I mention this? They all came to same conclusion – Las Vegas is in the forefront of a scientific evolution and CBAI couldn’t be more excited to be involved.
Although this discussion focused on the future of localized growth for our industries, just this morning I read an article regarding the growth of the stem cell industry across the US which stated “According to our [SBWire] latest report entitled “US Stem Cell Market Analysis”, the US is one of the major stem cell markets in the world”. The stem cell market grew from $500 million in 2009 to an estimated $830 million in 2010 and the industry is expected to generate $3 billion by 2013. What is responsible for this amazing growth? According to the report, a reduction in the controversies surrounding stem cells, huge investments such as funding and grants, strong demand for therapies and research and rising disease incidences. Stem cells have been used in the treatment of over 70 diseases already and the list of new clinical trials researching treatments for additional disease and ailments is growing daily.
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