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A method to construct key success factors in the cell therapy industry
Chuan-Feng Chiu1,2,3, Wen-Chin Chen2, Li-Hsing Ho2
1PhD Program of Technology Management, 63119Chung Hua University, Taiwan.
Science Progress
|November 11, 2021
Summary
This study identifies key success factors for Taiwan's regenerative medicine sector, highlighting technical characteristics like product development and technological mastery as crucial for cell therapy companies. These findings offer strategic guidance for the burgeoning domestic stem cell industry.
Area of Science:
- Regenerative Medicine
- Biotechnology Industry Management
- Cell Therapy
Background:
- Cell therapy is vital for regenerating tissues and treating diseases, with significant government support in Taiwan's biotechnology sector.
- Recent regulatory changes in Taiwan necessitate a clear management direction for the cell therapy industry.
- Identifying key success factors is crucial for the sustainable growth of biotechnology companies in this field.
Purpose of the Study:
- To develop a novel assessment framework for identifying key success factors in the cell therapy industry management.
- To explore critical management dimensions for biotechnology companies within Taiwan's evolving regulatory landscape.
- To provide strategic recommendations for the development of domestic stem cell industries.
Main Methods:
- Employed a mixed-methods approach combining qualitative and quantitative analyses.
- Conducted a case study of Gwo Xi Stem Cell Company, a Taiwanese cell therapy provider.
- Utilized literature analysis, expert interviews, Analytic Hierarchy Process (AHP), and Decision-Making Trial and Evaluation Laboratory (DEMATEL) to establish an innovative assessment framework.
Main Results:
- Technical characteristics emerged as the most significant factor for successful management in the cell therapy industry.
- Product development strategy (technical characteristic 1) and technological mastery (technical characteristic 2) were identified as crucial success factors.
- These factors are particularly important given the dynamic changes within Taiwan's cell therapy sector.
Conclusions:
- The study provides a robust framework for assessing management success in the cell therapy industry.
- Prioritizing technical characteristics is essential for companies aiming for success in Taiwan's regenerative medicine market.
- The findings offer actionable insights for policymakers and companies to foster the growth of domestic stem cell industries.
