Industry Perceptions of Barriers to Commercialization of Regenerative Medicine Products in the Uk

Abstract

This is the unspecified version of the paper.This version of the publication may differ from the final published version. Permanent repository link Abstract AimsRegenerative medicine is an emerging field with the potential to provide widespread improvement in healthcare and patient well-being via the delivery of therapies which can restore, regenerate or repair damaged tissue. As an industry, it could significantly contribute to economic growth if products are successfully commercialized. However, to date, relatively few products have reached the market due to a variety of barriers, including a lack of funding and regulatory hurdles. The present study analyzes industry perceptions of the barriers to commercialization which currently impede the success of the regenerative medicine industry in the UK. Materials & MethodsThe analysis is based on twenty interviews with leading industrialists in the field. ResultsThe study revealed that scientific research on regenerative medicine is thriving in the UK. Unfortunately, lack of access to capital, regulatory hurdles, lack of clinical evidence leading to problems with reimbursement, as well as the culture of the NHS do not provide a good environment for the commercialization of RM products. Conclusions Policy interventions, including increased translational government funding, a change in NHS and NICE organisation and policies as well regulatory clarity would likely improve the general outcomes for the regenerative medicine industry in the UK.

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