Regenerative Medicine Market in Japan 2016-2020
About Regenerative Medicine
Regenerative medicine deals with the process of using therapeutically induced or laboratory-grown human tissue to treat damaged or diseased human cells, tissues, or organs. It focuses on repairing, replacing, or regenerating damaged cells, and thus offers a paradigm shift in healthcare treatment. The three main technologies used in regenerative medicine are small molecules and biologics, gene therapy, and cell therapy. Small molecules and biologics help in the regeneration of diseased cells and tissues, whereas cell therapy helps in treating the functioning of existing cells.
Technavio’s analysts forecast the regenerative medicine market in Japan to grow at a CAGR of 35.3% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the regenerative medicine market in Japan for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of various types of regenerative medicine products to end-users like hospitals, ambulatory surgical centers (ASCs), and clinical research laboratories.
The market is divided into the following segments based on product:
Technavio Announces the Publication of its Research Report – Regenerative Medicine Market in Japan 2016-2020
Technavio recognizes the following companies as the key players in the regenerative medicine market in Japan: CellSeed, JCR Pharmaceuticals, Japan Tissue Engineering, Terumo, Astellas, Caladrius Biosciences, Healios, Fujifilm, and Rohto Pharmaceuticals.
Other Prominent Vendors in the market are: FUJISOFT Tissue Engineering, MediBIC, MEDI NET, Nikon, TAKARA, CMIC, EPS, Cyfuse Biomedical, Irvine Scientific, Kaken, Regience, Sumitomo Dainippon, Takeda, Alfresa, MEDIPAL Holdings, and TOHO.
Commenting on the report, an analyst from Technavio’s team said: “The vendors in the market are pursuing inorganic growth strategies to expand their presence and expertise. This trend is likely to have a positive impact shortly. In March 2015, Fujifilm and CDI, the leading developers and manufacturers of functioning human cells in industrial quantities, entered into a definitive agreement under which Fujifilm will acquire CDI. In February 2016, Astellas Pharma acquired Ocata Therapeutics, which is a developer of regenerative medicines for eye diseases. In November 2015, ReproCELL completed the acquisition of the Biopta. The acquisition enables the ReproCELL to expand its drug discovery services.”
According to the report, recent product approvals is a key driver which will fuel the market growth. The market has been witnessing new product approvals, which are expected to drive the growth. The new product approvals have the potential to generate substantial revenue in the market. For instance, in September 2015, Mesoblast's partner JCR Pharmaceuticals received approval of its product TEMCELL for the treatment of pediatric acute GVHD in Japan. This was the first product to be approved under the Japanese regenerative medicine law that enables cell therapy treatment to go directly from the first phase to commercialization. In the same month, Terumo Corporation received conditional approval for manufacturing and commercialization of its product HeartSheet autologous skeletal myoblast sheets.
Further, the report states that currently, the regenerative medicine market in Japan is lagging behind the other developed nations such as the US and few European countries such as Germany and the UK. The Japanese market has witnessed only four product approvals in 2014, which constitute a serious challenge to compete with other Western markets. On the other hand, by 2012 itself, the governments in Europe have approved 20 regenerative medicines, followed by South Korea with 14, and the US with nine. The low rate of product approval is due to the old regulatory system in Japan. Further, the less technological expertise of local vendors for the development of innovative regenerative medicine is another reason for a low competitive edge.
CellSeed, JCR Pharmaceuticals, Japan Tissue Engineering, Terumo, Astellas, Caladrius Biosciences, Healios, Fujifilm,Rohto Pharmaceuticals, FUJISOFT Tissue Engineering, MediBIC, MEDI NET, Nikon, TAKARA, CMIC, EPS, Cyfuse Biomedical, Irvine Scientific, Kaken, Regience, Sumitomo Dainippon, Takeda, Alfresa, MEDIPAL Holdings, and TOHO.
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