Regenerative medicines are being given the green light in Japan with safety being the only hurdle. In light of this, there are significantly more new treatments being approved in Japan as compared to the US which has significantly higher requirements.
So although not direct competitors to MSBs product, the quantum of regenerative treatments , coupled with no real efficacy requirement, makes the market penetration significantly slower than what would be usually expected.
Japan as a Funding Source, page-4
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