The regenerative medicine market in Japan was valued at almost $218 million in 2015 and is expected to surpass $987 million by 2020, says Technavio.
Technavio’s orthopedics and general medical devices portfolio have announced its latest market research report on regenerative medicine for the forecast period, 2016-2020. This market analysis discusses the major drivers and key emerging trends that will influence the growth of the regenerative medicine market in Japan during the forecast period. Some of the top vendors listed in this industry analysis include CellSeed, JCR Pharmaceuticals, Japan Tissue Engineering, and Terumo.
“The advent of 3D bioprinters allows researchers to re-create skin, cartilage, blood vessels, and other complex human tissues. Various research institutions are funding 3D bioprinter projects for the development of regenerative medicines in Japan. These projects sanction the use of technologies such as iPS cells and 3D printers over a five-year period. Some of the other activities include generating micro-caliber blood vessels with the use of 3D printers and growing cardiac muscles with stem cell sheets,” says Barath Palada, a lead analyst at Technavio for research on orthopedics and general medical devices.
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The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Transformation of regulatory landscape fostering quick approval of regenerative medicines
Favorable government regulations and new legislation for regenerative medicine will encourage vendors to introduce the safer and faster provision of the innovative products to cure life-threatening diseases. Recently, the MHLW issued an ethical guideline associated with the use of human somatic stem cells in clinical research and in 2010 they revised policies to cover the use of human embryonic stem cells and iPSC in clinical research. In 2014, the government launched ASRM act that covers the field of the ethical guideline for non-commercial daily practice and clinical research using unapproved cell-based products such as cancer therapies with immune cells and cosmetic cell therapies. Such initiatives are allowing the government to sanction the opening of new clinical research plans and medical care plans for the development of regenerative medicines.
Growing partnerships of MNCs with local vendors in Japan
Collaborations and strategic alliances among local vendors and international players will lead to the development of the regenerative medicine market in Japan. Such partnerships enable the generation of substantial capital into the Japanese regenerative medicine market. For instance, StemBioSys signed a three-year marketing and distribution contract with Funakoshi to bring their stem cell therapy products into regenerative medicine market.
Recent product approvals fuel the market growth
The market is observing new product approvals that will eventually generate substantial revenue in the industry. For instance, Mesoblast’s partner JCR Pharmaceuticals received approval of its product TEMCELL for the treatment of pediatric acute GVHD in Japan, and this is the first product to be approved under the regenerative medicine law that permits cell therapy treatment that is in the commercialization phase. These approvals will boost developmental activities and increase the profitability of the vendors in the market.
Other prominent vendors identified in this report are BRI, FSTEC, MEDI NET, Nikon, Rohto, TAKARA, CMIC, EPS group, Astellas, Cyfuse Biomedical, Fujifilm, Healios, Irvine scientific group, Kaken, Regience k. k, Sumitomo Dainippon, Takeda, Alfresa, Medical Holdings, Suzuken, TAKENAKA, and TOHO.
This research report includes an in-depth analysis, market shares, and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, and key financials. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Regenerative Medicine Market in Japan 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Cryogenic Equipment Market 2016-2020
- Global Regenerative Medicine Market 2016-2020
- Global Nuclear Medicine Market 2016-2020
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