Today, regenerative therapies are generally restricted to research environments. In reality, according to a report released recently that a number of studies of Regenerative therapies were conducted worldwide towards the end of the year. Regenerative medicine has the potential to change the way we think about healthcare and could provide solutions to deadly diseases that in the past would require long-term treatment to manage.
While billions of dollars are being invested in research into regenerative medicine as well as clinical trials, very little has been allocated to the administration of cutting-edge medical therapies on a massive size. The race seems to be raging between smaller Medtech companies as well as large multinational pharmaceutical firms to determine who is the first to break into the market for regenerative medicine.
Today, many established pharmaceutical companies prefer to partner with Medtech startups to in-license products in early clinical development stages as opposed to conducting early development on their own which comes at a huge cost. This is a risk-reduction tactic, but it could mean big pharma misses the boat. Instead, it is advised for companies to tie up with a trusted regenerative medicine distributor in NY for quality dispersal.
Regulation is, and will continue to, play a hugely important role in delivering regenerative medicines from a lab setting to a clinical setting. Only recently, the FDA announced a new policy framework for the development of regenerative medicine products, taking into account the dynamic and fast-moving nature of the field.
Ultimately, the government’s aim is to “protect patients from products that pose potential significant risks, while accelerating access to safe and effective new therapies” according to the Former FDA Commissioner. The FDA plans to achieve this over the coming years by driving stakeholder engagement with the developing regulatory framework in order to efficiently advance access to safe and effective regenerative medicine advanced therapies.