According to the market Intelligence report of BIS Healthcare titled, ‘Global Regenerative Medicines Market -Analysis and Forecast (2017-2025)’, most of the companies in this industry are in clinical stage and are expected to launch new products in the future owing to the technological innovations across various segments of regenerative medicines. The major market players are Novartis AG, ViaCyte Inc., Tissue Regenix, Vericel Corporation, and Cytori Therapeutic, among others. Efficient distribution network, product differentiation, and supply competency play a major role in determining the market position of such players. The market has witnessed several developments in this regard.
In February 2018, Allergan plc acquired clinical-stage biotech Elastagen Pvt. Ltd. for its Tropoelastin- based technology which has the potential to treat acne scars, stretch marks, aesthetic skin repair, and wounds repair. According to Bill Meury, Chief Commercial Officer of Allergan, “This acquisition and development of a next generation of injectables based on this technology will ensure Allergan offers innovative filler products for years to come.”1
In February 2018, in a press release, Astellas Pharma, a Japanese pharmaceutical, and biotechnology company, announced that they are acquiring Seattle Biotech Universal Cells to develop its universal stem cell technology. The technology genetically alters stem cells so that it can be used by anyone. On this, Claudia Mitchell, CEO of Universal Cells said, “We are thrilled to be able to leverage the full potential of our Universal Donor Cell technology by becoming an intrinsic part of Astellas’ effort to fulfill the promises of regenerative medicine to treat diseases.”
Last year, in August 2017, ViaCyte, Inc., a leading regenerative medicine company, for the very first time, had implanted a patient with the PEC-Direct product, a novel Islet Cell Replacement therapy to develop a functional cure for the patients with type-1 diabetes who were at high risk for acute life-threatening complications. “Islet transplants have been used to successfully treat patients with unstable, high-risk type 1 diabetes, but the procedure has a limitation, including a very limited supply of donor organs and challenges in obtaining reliable and consistent islet preparations,” said James Shapiro, Director of the Clinical of the Clinical Islet Transplant Program.2
Owing to the presence of more than seven hundred regional players in this industry, the market players are coming up with various strategies such as agreement, partnership, collaborations, and joint ventures. Geographically, the largest contributor to the growth of the regenerative medicines market is North America, attributing to the presence of various biopharmaceutical companies involved in R&D of regenerative products followed by Europe.
References:
1.BioPharma Drive
2.BUSINESS INSIDER
