More than half (52%) of the companies comprising the tissue engineering (TE) and stem cell industries are revenue-generating, compared to about 21% four years ago, according to an analysis published in Tissue Engineering Part B. Of those companies, 31% having commercial products and 21% are service-based; another 30% have products in clinical trials.
“Today, the industry has begun to understand how to manufacture and market TE and stem cell products, sustaining itself and still growing,” concludes a team of authors led by Robert Langer, Sc.D., David H. Koch Institute Professor at the Massachusetts Institute of Technology.
The data collected by Dr. Langer and colleagues between 2007 and mid-2011 “suggest the TE and stem cell industry has stabilized and is on a path pointing toward continued success,” state the authors in the article entitled Progress in the Tissue Engineering and Stem Cell Industry: Are We There Yet?
They report that the industry is just attaining profitability, with sales revenues reaching $3.5 billion and industry spending approaching $3.6 billion, and “appears to be on a positive trajectory,” although they anticipate “that there may be growth pains as the industry matures."
Up until his passing in 2009, Michael Lysaght, Ph.D., professor at the Center for Biomedical Engineering at Brown University, had periodically tracked the growth of the tissue engineering and stem cell industry, publishing his findings in Tissue Engineering.
More than a decade ago he wrote, “tissue engineering research and development was being pursued by 3,300 scientists and support staff in more than 70 startup companies or business units with a combined annual expenditure of over $600 million.”