According to the report “Global Regenerative Medicines Market,” published by Market Data Forecast, the global market is projected to reach USD 48.90 billion by 2021 from USD 17.20 billion in 2016, at a CAGR of 23.24% from 2016 to 2021.
Regenerative medicine seeks to replace tissue or organs that have been damaged by disease, trauma, or congenital issues, vs. the current clinical strategy that focuses primarily on treating the symptoms. The tools used to realize these outcomes are tissue engineering, cellular therapies, and medical devices and artificial organs.
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Combinations of these approaches can amplify our natural healing process in the places it is needed most, or take over the function of a permanently damaged organ. Regenerative medicine is a relatively new field that brings together experts in biology, chemistry, computer science, engineering, genetics, medicine, robotics, and other fields to find solutions to some of the most challenging medical problems faced by humankind.
The promising field of Regenerative Medicine is working to restore structure and function of damaged tissues and organs. It is also working to create solutions for organs that become permanently damaged. The goal of this approach is to find a way to cure previously untreatable injuries and diseases.
Global Regenerative Medicines Market: Drivers & Restraints
Rising demand for biologically derived materials for regenerative medicine, growing technological advancements (nanotechnology based tissue engineering), and high support from government to promote the tissue engineering for the development of advanced therapies are driving the growth of global regenerative medicines market. In addition, growing utilization of regenerative medicines in cancer research & drug discovery, increasing organ transplantations, and rising healthcare expenditure are further stimulating the growth of global regenerative medicines market. However, presence of stringent regulatory pathways for tissue engineered products & cell-based products, strict ethical regulations for the utilization of human tissue, certain post-implantation infections & complications, and high cost for the research & development of cell-based products (such as stem cells).
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Global Regenerative Medicines market: Segmentation
- Cell-Based Products
- Autologous Cell-Based Products
- Allogeneic Cell-Based Products
- Acellular Products
- Cell Therapy
- Gene Therapy
- Tissue Engineering
- Orthopedic & Musculoskeletal Spine
- Central Nervous System
- Other Applications
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Global Regenerative Medicines market: Overview
Factors such as an increase in government funding for R&D, the rise in the prevalence of chronic diseases, and the increased focus of vendors to develop cell therapy products are driving the demand for regenerative products. Research and clinical trials of regenerative medicine involve high expenditure and has propelled many government organizations to allocate funds and grants to encourage research in regenerative medicine and product development. Moreover, with the increase in the regulatory approval of regenerative products, the market will witness steep growth during the forecast period.
Several vendors in the market are entering into strategic alliances with other vendors for drug development and manufacturing. The key players in the market are adopting M&A strategies to strengthen their global position and improve their sales. With the rise in strategic partnerships, many companies are getting upfront and royalty payments, which has encouraged many small companies to make investments in research activities and develop novel regenerative medicine products. Besides improving the drug delivery system and providing novel treatments, these alliances have increased the access and penetration of regenerative medicine.
Global Regenerative Medicines market: Region-wise Outlook
On the basis of geographical region the global regenerative medicines market is segmented as North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. North America is estimated to command the highest share of 31.3% of the global regenerative medicines market in 2016, whereas Asia-Pacific is estimated to grow at the highest CAGR of 28.90% during the forecast period 2016-2021.
Key Questions Answered
- What is the current and future Regenerative Medicines market outlook worldwide? What trends are affecting the Global market?
- What is the competitive landscape and market share of major players in the Regenerative Medicines space globally?
- What are the key, high growth markets that Regenerative Medicines should expand into? Which market segments are growing the fastest?
- What are the unmet needs with the Regenerative Medicines currently on the market? How will emerging technologies fulfil these unmet needs?
- What is physician perception and market outlook Regenerative Medicines?
- What are the challenges and barriers that have hindered widespread adoption of Regenerative Medicines?
Global Regenerative Medicines market: Key Players
The key players in global regenerative medicines market such as, Vertex Pharmaceuticals Incorporated (U.S.), Acelity L.P. Inc. (U.S.), Celgene Corporation (U.S.), StemCells, Inc. (U.S.), Organogenesis Inc. (U.S.), NuVasive, Inc. (U.S.), Vericel Corporation (Genzyme) (U.S.), Japan Tissue Engineering Co., Ltd. (Japan), Cytori Therapeutics Inc. (U.S.), Advantagene, Inc. (U.S.), and Mesoblast Ltd. (Australia).
Reasons to buy Global Regenerative Medicines market Report:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
- Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses
- A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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