Rising Powers and Interdependent Futures

Global Medical Discovery highlights a recent article by Brian Salter, Yinhua Zhou and Saheli Datta as a feature article for this month’s issue. The excerpt below highlights the article’s key findings.

The general reticence to engage with the reality of the global market of stem cell therapies serves to perpetuate the present neglect of consumer demand-led medical innovation and the forms of governance it requires. It is a reticence that has both supporters and opponents and is unlikely to remain politically unchallenged for long, and bioethicists are beginning to acknowledge the issues posed by medical innovation in the stem cell field [14]. It is important, also, that the present governance vacuum surrounding practice-based medical innovation is addressed by the medical profession itself through changes in its normal systems of self-regulation and professional guidance. Commenting on the ‘sclerotic’ qualities of the established drug innovation model traditionally sponsored by the USA and EU, Joyce Tait observes of China and India that ‘these increasingly powerful components of the bioeconomy may see a competitive advantage in leading regulatory reform so as to encourage more innovative health care sectors to develop, initially for their large and increasingly wealthy home markets, and perhaps also to encourage change in the United States and European regulatory systems’ [15]. Given the market benefits that may accrue from the association of these emerging economies with stem cell medical innovation as documented in this paper, it would be irrational of them to do otherwise.

For more details please refer to Global Medical Discovery.

The full article can be found at: Salter, Brian, Yinhua Zhou, and Saheli Datta. (2014). “Making Choices: Health Consumers, Regulation and the Global Stem Cell Therapy Market.” BioDrugs: 1-4.