Theme 5: Tissue Engineering for Regenerative Medicine
Table of Contents
- Regenerative Medicine and Its Significance
- Enabling technologies for Regenerative Medicine
- Commercialisation of cell-based products
- Moderating the 'race' to market
- Manufacturing challenges
- Prospective manufacturing models
- Therapeutic targets: How ambitious should we be?
- New Zealand’s Regenerative Medicine position
- A special Regenerative Medicine project
- Market size
- Science and technology comment
- Researchers and entrepreneurs gallery
Fig 11 provides a multiple-therapy, impossibly smooth, curve of size and growth in the market. The territory in which skelGEN sits is indicated in the oval.
Fig 11 The global tissue engineering and cell therapy market
More up-to-date reviews tend to confirm the scenario in fig 11 as a ‘minimum’. A case in point is a market analysis prepared for the 5th International Convention on Tissue Science and Regenerative Medicine, to be held in Berlin in September 2016. It states:
The global tissue engineering and regeneration market reached US$17 billion in 2013. This market is expected to grow to nearly US$20.8 billion in 2014 and US$56.9 billion in 2019, a compound annual growth rate [CAGR] of 22.3%.
The report goes on to say [with the author’s slight editing]:
On the basis of geography, Europe holds the second place in the global market in the field of regenerative medicine and tissue engineering. In Europe countries like UK, France and Germany possess good market shares in the field. Spain and Italy are the emerging markets in Europe.
The task for New Zealand's emergent RM industry is to identify specific niche opportunities within these large arenas, and to pursue the niches with products having a clear point of difference and superiority over extant products.