The high potential earning for companies from products aimed at repairing organs and tissues has led to an increase in the attention given to regenerative medicine research. Developments in stem cell therapies and tissue engineering in particular may catalyse rapid growth in the translational regenerative medicine market over the next decade and beyond.
Ramla Salad, the lead analyst of the report commented "The translational regenerative medicine market is expected to grow significantly due to the advances in technology and improvements in regulatory frameworks. The expected number of gene therapies is anticipated to increase due to the introduction of the Regenerative Medicine Advanced therapy designation (RMAT) because it provides incentives for the development of advanced therapies. In addition, many governments in various regions of the globe have shown an interest in promoting the development of translational regenerative medicine. The strong governmental support has eased the process of product commercialisation and market access which will result in an influx of products reaching the translational regenerative medicine market in the coming decade."
Leading companies featured in the report include Astellas Pharma, Athersys, AxoGen, Inc., Organogenesis Holdings, Inc., Osiris Therapeutics, Inc., uniQure N.V., Vericell Corporation and other companies.