Market for regenerative medicine set to reach $1.4 billion in 2012; report

The overall global market for translational regenerative medicine will reach a value of $1.4 billion in 2012. That revenue forecast and others appear in Translational Regenerative Medicine Market Prospects 2012-2022, published by Visiongain, a business information provider based in the UK.

Visiongain forecasts that the overall regenerative medicine market will multiply in size from 2012 to 2022. The regenerative medicine industry is in its infancy; however marketed products have achieved commercial success. Visiongain believes the strength of the regenerative medicine market is its potential to treat a plethora of diseases. Growth of the market will be driven by targeting serious, prevalent disorders such as cancer, cardiovascular disease and diabetes. In these areas, the potential for regenerative medicine technologies is vast, and regulatory and cultural uncertainties about the field will not derail its progress from 2012 to 2022.

Peter Williamson, a pharmaceutical industry analyst in Visiongain, said: "Regenerative medicine is a market with huge potential. The key to its future lies in the successful approval and commercialization of new products. We have already seen commercial success in the tissue engineering sector with products such as Dermagraft and Apligraf. It is important that companies, reimbursement agencies and regulatory authorities learn lessons from these achievements, ultimately guiding efficient developmental processes. In addition, advances in the scientific understanding of cellular mechanisms and how they aid and influence regeneration will strengthen these processes.”