Regenerative Medicines Market By Material (Synthetic Material, Biologically derived material, Engineered material) By Technology (Tissue Engineering, Cryopreservation, Cellular Therapeutics, Expansion & sub-culture) By End-user (Pharmaceutical industry, Medical industry, Research institutes, Biotech Companies) and Region – Global Forecast 2016 to 2024.
Stem cells are widely used in biotech research and development programs for the discovery of naive drugs including regenerative medicine. Regenerative medicines play a vital role in the treatment of various diseases as these medicines are capable of restoring the functionality of damaged cells and tissues. Further, regenerative medicines help the medical cases with degenerative disorders and bring a solution to the tricky medical procedures as the medicine replaces or regenerate the tissues and organs.
The Global Regenerative Medicines Market is expected to reach USD 50.11 billion by 2021, registering a CAGR of 12.7% during the period of 2015-2021. On the back of expanded demand of bone & joint reconstructive surgeries in the nation, North America with maximum share in global regenerative dominated the market followed by Europe in 2015. Further, it is projected that by 2019 Europe may surpass the North America market in the field of stem cell and regenerative medicine. Eastern and Western Europe are projected to show expanded demand as the need for transplants through regenerative medicines will be increasing for many applications in near future. Further backed up by the increased medical tourism in the continent, Asia-Pacific countries are also expected to show up-surged demand during 2015-2021. In addition to that, Asia-Pacific becoming one of top continent in supplying regenerative medicine bone and joint products in countries like India, China, Japan and South Korea are further projected to give a boost to the stem cell market in the region.
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Tissue engineering accounted for the highest share in industrial development when they participate nationally or geographically in the field of making regenerative medicines. When we look at the geographic distribution of tissue engineering firms and research institutes, the U.S. with 52% leads the market followed by Germany (21%), Japan (16%), the UK (7%), and Sweden (4%).
By Region : Stem cells & Regenerative Medicine Market is further classified on the basis of region as follows: North America (U.S. & Canada), Latin America (Brazil, Mexico, Rest of Latin America), Western and Eastern Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Western Europe), Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia), Rest of World
Growth Drivers and challenges
Expanded funding from the governments organizations and collaborations with domestic players for the entry in the nation specific market would further anticipate the market of Stem Cells & Regenerative Medicine. The growth in medical researches across the globe is the major driver for this market.
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In addition to that, a rapid shift and advancement in healthcare researches would further anticipate the Stem Cells & Regenerative Market worldwide. The flexible manufacturing technology employed is further projected to fuel the Regenerative Medicine Market across the globe.
However, lack of technology in many economies is a big challenge for the stem cell and regenerative market. Further, hi-tech labs require huge investment and appropriate infra for the development of this market are projected to de-escalate the stem cell regenerative medicine market. Moreover, meeting government rules and regulations is yet another main roadblock for the players engaged in the stem cell and regenerative industry.
Key Players : Advanced Cell Technology Inc., Cellartis AB, Cellular Engineering Technologies Inc., Bio Time Inc., International Stem Cell Corporation, Medtronic, Inc., Zimmer Holdings, Inc., Orthofix, Inc., NuVasive, Inc.
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