The recent Nobel Prize recognition of work on artificially derived multipurpose stem cells by Japanese scientist Shinya Yamanaka is likely to further boost use of the technology in the country's biotech and related industries.
It is hoped that his research for engineering mature cells, such as skin and blood, to grow into any type of body tissue will help in the development of new drugs and spur business opportunities for regenerative medicine, free from the controversy associated with stem cells from human embryos.
Research company Fuji-Keizai Group says the Japanese market for regenerative medicine reached ¥51.4 billion in 2011 and is likely to top ¥100 billion in 2020 if more products are put on the market and their clinical applications are promoted.