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Stempeutics Research has commenced development of automated stem cell isolation device – Stempeutron for cosmetic therapy.
Stempeutics, incorporated in 2006, is funded by Manipal Education and Medical Group and Cipla. The company is a biotech company developing stem cell-based medicinal products.
Addressing a press conference Mr B.N. Manohar, Chief Executive Officer, said “The company's latest product - Stempeutron - collects cells from adipose or fat tissue which is significantly potential in plastic and reconstructive surgery applications.”
“Currently the product is under development and is expected to be ready in one-year time,” he added.
Fat tissue in the body which is called stromal vascular fraction (SVF) has major applications in post mastectomy breast reconstruction/ cosmetic breast augmentation, facial restructuring, deformity correction, scar and wrinkle reduction.
The device when it hits the market will the first indigenously developed one having applications in mid to large-sized hospitals and clinics in the country which routinely perform procedures.
Mr Manohar, said Stempeutron is on par with the existing devices worldwide for cosmetic and reconstructive therapy.
The global market for cosmetic surgery services was valued at $31.7 billion in 2008 and is expected to touch $40.1 billion in 2013, with a compound annual growth rate (CAGR) of 5.2 per cent.
According to Mr Manohar, the International Society of Plastic Surgeons survey, India ranks fourth in the number of cosmetic surgical procedures (8.5 lakh) performed for a year compared to the US which tops at 31 lakh.
India also ranks fourth in number of breast augmentation surgeries (1.2 lakh) performed annually and is estimated to be $600 million market.
“Owing to significant increase in income of the middle class households and changing lifestyles, it is expected that the Indian cosmetic surgery market is expected to grow at a CAGR of around 31 per cent during 2010-13,” Mr Manohar said.
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