The global regenerative medicine market is likely to expand considerably in the coming years due to growing applications in the treatment of chronic diseases. According to a report published by Fortune Business Insights, titled “Regenerative Medicine: Global Market Analysis, Insights and Forecast, 2019-2026,” the market was valued at US$ 23,841.5 Mn in 2018. Fortune Business Insights states that the market will reach US$ 151,949.5 Mn by the end of 2026, thereby exhibiting a CAGR of 26.1%.
Recent developments in treatment of acute and chronic diseases can be attributed to advances in regenerative medicines. Regenerative medicine mainly focus on identifying the root cause of the disease and aims at locating, repairing, and regenerating the non-functioning body cells. As most of the chronic and acute diseases are inclined towards the elderly and geriatric population, the growing geriatric population serves growth of the global regenerative medicine market in the coming years.
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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• Integra LifeSciences Corporation
• CELGENE CORPORATION
• Medtronic
• American CryoStem Corporation
• Tissue Regenix
• Avita Medical
• Osiris Therapeutics, Inc.
• Wright Medical Group N.V.
• Smith & Nephew
• Integra LifeSciences Corporation
“Novartis Receives EU Approval for Luxturna”
The severity of chronic diseases has led to the demand for efficient medicines. The ability of regenerative medicine to treat severe life-threatening diseases in an efficient manner has created a huge demand for the products across the world. Increasing drug approvals have contributed to the rising uptake for regenerative medicines. In 2018, Novartis received usage approval from the European Union for its latest regenerative medicine ‘Luxturna’.
The drug was used to treat and restore sight for people with vision impairment. Luxturna was widely useful in treatment of rare retinal diseases. Fortune Business Insights states that the approval for Luxturna will contribute to the growth of the global regenerative medicine market in the forthcoming years.
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“Integra LifeSciences’ Latest Product Offering Will Favor Market Growth”
The advancements in regenerative medicine have fueled their demand across the world. Increasing product launches have contributed to the rising uptake of regenerative medicine across the world. In 2017, Integra LifeSciences announced the launch of Integra Dermal Regeneration Template Single Layer ‘Thin’. The product was aimed at repairing dermal defects in a one-step procedure. The medicine will also aid in reducing hospital stays.
Fortune Business Insights has identified Integra’s latest product offering as a major market growth driver. The report includes product launches, similar to Integra’s latest medicine and gauges the impact of these products on the global regenerative medicine market in the coming years.
Market Segmentation:
By Application
• Orthopedics
• Wound Care
• Oncology
By Distribution Channel
• Hospitals
• Clinics
By Geography
• North America (USA and Canada)
• Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
• Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
• Latin America (Brazil, Mexico and Rest of Latin America)
• Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)