What is the global market size for stem cell research?

Question

Global Market-Stem Cell Research
By Regions- USA, Canada, Europe, Japan, India
In terms of US$

Estimates & Projections

Answer 1

Five years ago, the Bush administration decided to severely limit federal financing for embryonic stem cell research, a move that set off vigorous competition among the states to provide support for a research field that many scientists say could bring about major medical advances.

New Jersey was first out of the gate, pledging millions of dollars for stem cell research in the state. California raised the stakes with a huge $3 billion bond initiative, and other states followed with ballot initiatives or legislation to give scientists grants or to build research centers. Those efforts, supporters promised, would also bring in new jobs and tax revenue.

But New York -- home to leading research universities, medical centers and biotechnology companies -- has remained absent from the list. Legislative efforts in recent years to direct state money to embryonic stem cell research have stalled, and then fizzled.

Now, state lawmakers are preparing to move forward on what would be the most ambitious government-financed stem cell project on the East Coast.

In his first address to the Legislature, Gov. Eliot Spitzer called this month for passage of a $2 billion 10-year bond initiative for research and development, at least half of which would be set aside to pay for stem cell research. And the project is being tailored as an economic development effort in the hopes of attracting support from upstate Republican lawmakers.

Advocates for stem cell research say that if successful, the initiative -- by pledging a sizable investment over a sustained period -- would catapult New York to the forefront of the field. They also say that bringing the state's academic and scientific institutions more into the research mix could have significant ripple effects across the country.

''The real value is that if New York is involved, you suddenly have an ability to make a leap in progress across the country's best minds,'' said David Bluestone, a spokesman for Americans for Stem Cell Therapies and Cures, a national advocacy group. ''You never get advances from one lab in one state. You need this to be happening across all the states with the best research institutions. California can't go it alone.''

The initiative, a centerpiece of the Spitzer administration's economic development agenda, would have to meet the approval of the State Senate and Assembly before it could go before voters. Lt. Gov. David A. Paterson, a former state senator, is to be in charge of shepherding that effort through the Legislature.

Besides the bond measure to pay for stem cell research, the administration has proposed a law to ensure the legality of the research within New York State.

Polls commissioned by supporters of the embryonic research show that overwhelming majorities of New York voters support state financing for it. But the administration may still face significant hurdles in the Capitol, and beyond.

Several times, the Democratic-controlled Assembly has passed legislation to finance embryonic stem cell research and ensure its legality.

Similar legislation proposed in the Senate in previous years by two Democrats from Manhattan, Mr. Paterson and Liz Krueger, never made it to the Senate floor, where legislative business is tightly controlled by the Republican majority leader, Senator Joseph L. Bruno.

Many members of Mr. Bruno's caucus, however, support such research, especially senators from upstate cities desperate for the public and private investment it could spur.

In remarks in Albany last year to advocates of stem cell research, Mr. Bruno said he would support state funds for the research. He and Mr. Spitzer's predecessor, Gov. George E. Pataki, called for an $800 million public-private research fund for research in medical and life sciences, to which the state would contribute about $200 million. But that never came to fruition.

Moreover, that proposal did not specifically protect or authorize money for embryonic stem cell research, instead leaving grant decisions to a board appointed by the governor and legislative leaders.

Answer 2

billions.