2012-12-14 19:08:12 - Regenerative medicine market to march ahead in Europe
The global regenerative medicine has been forecast to exceed US$4.4 billion by 2018, primarily driven by technological advances and favourable demographics.Regenerative medicine is the "process of replacing or regenerating human cells, tissues or organs to restore or establish normal functionRegenerative medicine also empowers scientists to grow tissues and organs in the laboratory and safely implant them when the body cannot heal itself. Importantly, regenerative medicine has the potential to solve the problem of the shortage of organs available for donation compared to the number of patients that require life-saving organ transplantation.The adoption of regenerative medicine is expected to witness a giant leap in the coming years with the introduction of cutting edge therapies and other products which are under development.Unlike
other industries, the regenerative medicine industry has reached the present stages mainly through private participation. Government funding and/or support for research into this promising field have only been a recent phenomenon.China has set up a US$1 billion fund for research into the field. Other major players such as Australia, India, Brazil, Argentina, South Korea, Singapore, and Malaysia have been witnessing active support from respective governments through funding or policies.In terms of growth, Europe is projected to march ahead of other world markets, propelled by renewed activity in Germany, UK and Belgium among others. An estimated more than 400 companies are related to tissue engineering or regenerative medicine within the EU, with Germany and the UK hosting the largest number of such firms.For more information on the regenerative medicine market, see the latest research: Regenerative Medicine MarketFollow us on Twitter @CandMResearch
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