Social Impact:

Regenerative medicine ultimately impacts humanity in many ways. Because of its ability to restore damaged or deceased organs, waiting lists for organ transplants will become increasingly reduced in numbers. Patients will also become healthier because there is no rejection when using one’s own cells and may also have an extended life. The human life span has the potential to elongate because when organs start to break down, a new one can be put in to replace it. Scientists all over the world have come together to form a global community in tissue engineering and regenerative medicine. The organization is called the Tissue Engineering and Regenerative Medicine International Society (TERMIS) and is involved in 30 countries with over 2,000 members. Together, they have built a strong voice for scientists and researchers interests in these fields. [12] 


 Political Impact:

Globally, efforts are made to try to advance regenerative medicine and the U.S. is taking a lead. Europe, Japan, China, and Australia have all taken initiatives to advance their regenerative medicine programs.  The United States could be in danger of falling behind though, with all the many other countries pressing forward in this new field. To remain competitive, it is necessary that the United States keeps strong leadership and research in this field. The U.S. Government has always taken the lead in new technology and regenerative medicine, in this case, should not be any different. [13] President Barack Obama stated in his campaign that he would overturn federal funding limits on research in human stem cells and embryos. In the times of Bush’s presidency, limits meant that regenerative medicine could not push forward as much as scientists wanted. Obama’s lift of the stem cell ban will benefit the United States as it proceeds in the study of regenerative medicine and using it for artificial organs. [14] 


Economic

 Impact:

Regenerative medicine has the potential to lower healthcare costs and inefficient treatments in the United States and globally. As America’s “baby boomers” increase in age, healthcare costs will rise immensely by 2040 due to the large amount of people estimated to need restoration of damaged tissues and organs. At present, the current world market for replacement organ therapies is over $350 billion, while the predictable U.S. market for regenerative medicine is estimated at $100 billion. Because regenerative medicine’s purpose is to restore the function of damaged tissues and organs by replacing them with an artificial one and not just the reduction of symptoms, this field in medicine greatly cuts healthcare costs. Advancing this field will also create more jobs as well as a new subdivision of the healthcare industry. [13] 

 

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