The global Regenerative Medicine market is expected to touch USD 39 Billion by 2021, up from about USD 13 billion in 2016, and India will account for a huge share of that as there are a significant disease burden and limited healthcare opportunities.
The current market size of anti-aging products itself has pegged Rs 40,000 crore and the market for anti-aging treatments would be even larger.
In an interaction with Wellness India, DrPrabhu Mishra, CEO & Co-Founder, StemGenn Therapeutics, predicts how the market of plastic surgery in India is going to be in future?
Market for plastic surgery/ anti-ageing treatments/ corrective procedures
Dr. Prabhu says, “Stem Cell Therapy is not only an alternative for plastic surgery but also a better treatment with higher clinical precision. With the Indian economy continuously registering higher growth rates than most of the countries, the result is that of higher disposable in families and with people becoming more and more conscious of their smile, countenance, face, etc, there is going to be humongous rise in the number of people who will opt for corrective procedures for cosmetic reasons. Some of the most popular treatments are Cell-based Breast Augmentation, Cosmetic Gynecology Ionone surgical procedure like PRP, fat grafting, Nanofat, and others have given the industry a paradigm shift.”
The challenges and shortcomings of existing treatments
Dr. Prabhu adds, “Stem Cell Therapy is an exciting and multifaceted new development in the world of medical treatment. It promises novel therapeutic approaches to replace or restore the original functions of tissues, functional systems or even organs as a whole. The field also includes tissue engineering and materials’ science. Indications range from wound healing and tissue transplantation to curing damaged organs and even life-threatening diseases, such as cancers, genetic disorders and autoimmune diseases. Stem Cell and gene therapies represent a major revolution in medicine. They also represent a revolution for patients, shifting the focus from treatment to healing.”
Difference between India and Western Countries
Dr. Prabhu elaborates, “For funding and supporting stem cell research and clinical trials to give regulatory approvals, countries in the west are much ahead than some of their Asian counterparts. For example, Health Canada has approved stem cell therapy in complications from a childhood cancer treatment. As time goes by, there will be more and more acceptance of this revolutionary medical treatment.”
