Regenerative medicine is the use of tissue engineering and molecular biology to improve or replace biological function in human cells, tissues and organs. Research on adult stem cells has generated a great deal of excitement in this regard. Despite the challenges in understanding adult stem cell biology, the field of regenerative medicine is taking shape. Developers, FDA regulators and lawmakers are beginning to realize that regenerative medicine could well be one of the most powerful medical tools of the future.
According to the Alliance for Regenerative Medicine (ARM), the regenerative medicine market will be worth $2.1 billion in 2015, with projected 24 percent growth from 2015 to 2020. There are more than 700 companies worldwide with a tangible regenerative medicine focus, and ARM considers 418 of these to be industry leaders.