The report presents a detailed summary of the historical development trajectory exhibited by the global regenerative medicine market and explains the market’s present condition through industry-standard analytical tools. A solid analysis of the market’s statistics is used to derive reliable forecasts regarding the development of the market in the coming years. According to the report, the global regenerative medicine market is expected to reach a valuation of US$6.5 bn by the end of 2019.
Regenerative medicine is an emerging field in the healthcare industry concerned with the repair, replacement, and regeneration of damaged human tissue and organs. This includes damage from age-related degeneration, congenital defects, accidents, or diseases. Due to its vital contribution, regenerative medicine is becoming widely popular in the treatment of neurological, cardiovascular, musculoskeletal, and orthopedic conditions. Bone and joint conditions are among the leading applications of regenerative medicine. The viability of several synthetic alternatives to bones and joints is one of the key points that have driven investment in regenerative medicine in the recent past.
Global Regenerative Medicine Market: Trends and Opportunities
The increasing incidence of bone and joint diseases and injuries, brought about by the chronic damage done by the unhealthy lifestyle of most urban consumers and the rising number of vehicular and sports accidents, is the key driver for the global bone and joint regenerative medicine market. The sedentary lifestyle and chronically unhealthy diets of many urban individuals leave them prone to diseases that weaken or damage the bones, leading to a greater demand for orthopedic implants.
While synthetic alternatives to bones and tissues are being developed at a steady rate, biobased alternatives such as stem cell therapy and tissue engineering have enjoyed a rapid emergence in the last few years. The ability of stem cells to develop into multiple types of human cells makes them vital in the treatment of several types of diseases. Stem cells are being intensively researched at present to maximize the scope of their use, and their use is likely to become increasingly important to the regenerative medicine market over the coming years. However, the biomaterials segment is likely to remain the leading contributor to the global regenerative medicine market in the near future.
On the other hand, ethical objections to the use of stem cells have held back their widespread use and have also led to some restrictions on research into their utility in medicine. This is a key restraint on the overall regenerative medicine market, since stem cells are likely to be a crucial part of the future of the market.
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Global Regenerative Medicine Market: Geographical Segmentation
Regionally, North America is the key contributor to the global regenerative medicine market due to the presence of several leading market players in the region, which has led to the latest advances in the field becoming easily available to patients. The well-funded R&D environment in the U.S. is also a key driver for the North America bone and joint regenerative medicine market, which is likely to remain a dominant regional market for regenerative medicine in the coming years.
Asia Pacific is likely to emerge as a leading regional market for bone and joint regenerative medicine in the coming years. The increasing patient pool of bone and joint conditions and the steady rise in healthcare expenditure in Asia Pacific are vital in ensuring sustained growth of the Asia Pacific regenerative medicine market in the coming years. Many key multinational players in the regenerative medicine market have identified Asia Pacific as a high-potential market for the future and have accordingly taken steps to expand their presence in the region.
Key players examined in the report include Smith & Nephew plc, Anika Therapeutics Inc., DePuy Synthes Inc., Baxter International Inc., Stryker Corporation, Medtronic Inc., Arthrex Inc., Zimmer Holdings Inc., and CONMED Corporation.
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