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New analysis from
"Cell-based models are anticipated to speed-up the discovery of new molecules and biologics, the safety and toxicity testing of newly discovered drugs, and provide a solid understanding of underlying disease mechanisms," said
A significant number of regenerative medicine products, particularly in CT and TE, are already commercially available. In 2012, the market witnessed the approval of as many as seven CT products by regulatory agencies worldwide, while only five such approvals were granted between 2009 and 2011, and none from 2002 to 2008.
However, despite the immense value of regenerative medicine, there is a lack of consensus and strategic interaction among members of the regenerative medicine community. There has to be greater assessment of activities at various federal agencies including government, industry, academia, and patient advocates, particularly in the U.S., to identify areas of redundancy and eventually bridge the gap.
To set up a more efficient coverage and a solid reimbursement framework, the various stakeholders have to streamline regulatory policies. They could achieve this by establishing a clear point of contact at the national level that will act as an interface among the
They will also do well to create fora/platforms to present recommendations for regulatory, reimbursement and research policies in order to foster product and clinical development.
"On the whole, governments all over the world are expected to implement legislative policies favouring the establishment of centres of excellence, manufacturing infrastructure, research networks and economic diversification to support the development of regenerative medicine," noted Chidambaram.
For more information on this analysis, please email
Global Regenerative Medicine Market is part of the Life Sciences (http://www.lifesciences.frost.com( http://www.frost.com/prod/servlet/svcg.pag/HCLS )) Growth Partnership Service program.
Keywords for this news article include: Biotechnology, Oncology, Biologicals, Legal Issues,
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