For regenerative medicine to truly deliver on its potential, one important stakeholder, medical device companies, have to come to grips with the increasing role of regenerative medicine in patient care. Moreover device firms must embrace their part in bringing new regenerative therapies to market. As regenerative medicine is anticipated to have a profound and transformational impact on the medical technology industry, device manufacturers must modify traditional business models to capitalize on the emergence of this field. However, multiple significant obstacles exist; medical device firms looking to participate in this space will have to establish synergies with their existing portfolios, play a role in educating the public, become diligent in tracking progress within the industry, target high-potential regenerative medicine-focused companies for acquisitions and mergers, anticipate and navigate reimbursement difficulties for novel regenerative therapies, invest heavily in clinical trials, leverage their existing geographical footprints where possible, and think outside of the box in product development. In spite of these challenges, and the obvious risks associated with entering the largely evolving field, medical technology companies must ready themselves to compete in this new healthcare environment, one in which regenerative medicine will assume a more central role over time.
Questions Answered in This Report:
- Regenerative Medicine is a dynamic field with tremendous potential to change the landscape of healthcare. What are some critical recent events that have advanced the field of regenerative medicine? How are different stakeholders in the medical device industry likely to be impacted?
- Although some medical device companies already play a role in regenerative medicine, there are a number of challenges that exist in the field. What are the most significant hurdles device companies looking to participate in regenerative medicine need to be mindful of? What are likely investments needed to better guarantee success for new market entrants?
- Depending on the therapeutic specialty, physicians opinion varies on the degree of impact regenerative medicine will have. Which patient groups have particularly strong potential for being impacted by regenerative medicine? What are some ways that medical devices can co-exist with emerging regenerative therapies?