MOUNTAIN VIEW, Calif., Nov. 20, 2015 /PRNewswire/ -- Because patients are starting to be cured of once incurable diseases by using regenerative medicine, this industry is now one of the fastest growing biomedical sectors worldwide.
Only a few therapies in use today are capable of curing or significantly altering the course of a disease. Regenerative medicine is revolutionizing this by engineering, growing and regenerating tissues and organs with biological processes similar to those normally used in humans. The curative nature of some of these treatments is definitive, indicating regenerative medicine may be a new paradigm in human health.
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Sixty percent of the regenerative medicine market focuses on cell therapy; with its primary focus on stem cell therapy. Adult stem cells can be used in the following biomedical areas:
- Wound healing
For example, adult stem cells and immunological cells can be genetically modified to increase their ability to cure diseases. By combining cell therapy with gene therapy a cell's ability to fight certain types of cancer can be increased, making the modified cells better than the originals.
"This revolutionary combination of regenerative cell and gene therapy is opening a new age of medicine that could forever change how medicine is practiced," said Frost & Sullivan's Transformational Health Senior Consultant, Janes Andrews, Ph.D.
Regenerative medicine is also driven by the world's aging population. In fact, there will be more people worldwide over the age of 60 than under the age of 10 by 2030. Consequently, many countries are burdened by the cost of treatments for their aging and increasingly ailing populations.
The raising healthcare costs continue to burden countries, as there are few solutions for containing these costs. However, regenerative medicine companies are attempting to gain a foothold with new products in efforts to keep populations healthier longer, thus reducing the cost of healthcare.
"Regenerative cell therapy can be used to cure life threatening diseases, help aging populations stay healthier longer and potentially reduce the cost of healthcare," said Andrews. "Ultimately, regenerative medicine has the potential to change the way medicine is practiced throughout the world."
Frost & Sullivan's Transformational Health (http://www.healthcare.frost.com) Growth Partnership Service program offers several studies that provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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SOURCE Frost & Sullivan