Regenerative Medicine Market Analysis
The global regenerative medicine market is anticipated to grow at a 25.4% CAGR between 2016-2022, states the new Market Research Future (MRFR) report. Regenerative medicine, simply put, is the process to regenerate or replace organs, tissues, or human cells to establish or restore normal function.
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Numerous factors are adding to the growth of the global regenerative medicine market. These factors, according to the latest Market Research Future report, include increasing adoption of gene therapies, shortage of organs for transplantation, developments in monitoring devices and surgical technologies, increasing incidence of trauma emergencies, the emergence of nanotechnology, increasing popularity of stem cell technologies, and growing number of companies operating in regenerative medicine. Additional factors adding to the growth of the regenerative medicine market include rising investments by private agencies and governments, rising incidence of chronic diseases and genetic disorders, presence of different programs, increasing demand for this medicine to treat chronic wounds, orthopedic disorders, and cancer, rising growth in stem cell technology, development of CAR-T cell therapies, and Cures Act for regenerative medicine.
On the contrary, lack of awareness, operative inefficiency, high treatment costs, and strict government regulations are factors that may hamper the global regenerative medicine market growth during the forecast period.
Regenerative Medicine Market Segmentation
The Market Research Future report provides a complete segmental analysis of the global regenerative medicine market based on material, therapy, and application.
By material, the global regenerative medicine market is segmented into biologically derived materials, pharmaceuticals, genetically engineered materials, synthetic materials, and others. Of these, the biologically derived materials segment will have the maximum share in the market during the forecast period.
By therapy, the global regenerative medicine market is segmented into tissue engineering, cellular therapy, stem cell biology, and others. Of these, the cellular therapy segment will lead the market during the forecast period.
By application, the global regenerative medicine market is segmented into orthopedic, cardiovascular, dermatology, neurology, urology, oncology, cord blood, and others. Of these, the dermatology segment will command the largest share in the market during the forecast period. Numerous factors are adding to the growth of the segment, such as availability of various wound healing products that are FDA approved, technological advances, and availability of easy grafting methods for wounds and skin diseases.
Regenerative Medicine Market Regional Analysis
By region, the global Regenerative Medicine Market report covers the latest trends and growth opportunities across the Americas, Europe, the Asia Pacific, and the Middle East and Africa. Of these, North America will dominate the market during the forecast period for the rapid technological advances, high investments in oncology research and stem cell, and the presence of several key players in the region. Besides, top organizations such as the National Stem Cell Foundation, International Society for Stem Cell Research, National Cancer Institute, Alliance for Regenerative Medicine, and National Institutes of Health, are promoting research and development activities of regenerative medicine that is also adding to the market growth.
The global regenerative medicine market in Europe will have the second-largest share in the market during the forecast period, which is followed by the APAC region. Numerous factors are adding to the growth of the regenerative medicine market in the region, such as advancements in stem cell research, high spending in healthcare research, and the presence of regulatory environment in the region for clinical adoption of regenerative therapies that are cell-based. Japan and China are the key contributors in the region.
The global regenerative medicine market in the MEA will have limited growth during the forecast period for the absence of up to date healthcare set-up and scarcity of skilled professionals.
Regenerative Medicine Market Key Players
Notable players profiled in the global regenerative medicine market report include LifeCell Kinetic Concepts (US), StemCells Inc. (US), BioMimetic Therapeutics (US), Sanofi (France), CryoLife (US), Advanced Cell Technology (US), Baxter International, Inc. (US), RTI Surgical (US), C.R. Bard (US), Cook Biotech Inc. (US), Integra LifeSciences (US), Acelity (KCI Concepts) (US), Medtronic (Ireland), NuVasive, Inc. (US), Stryker Corporation (US), Vericel Corporation (US), Osiris Therapeutics, Inc. (US), and Organogenesis Inc. (US).
January 2020- Olympus has launched an innovative incubation monitoring system having confluency analysis and cell count to improve the workflow of regenerative medicine.
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