Regenerative Medicine Market information, By Material (Synthetic Materials, Genetically Engineered Materials, Pharmaceuticals), By Therapy (Stem Cell Biology, Cellular Therapy, Tissue Engineering), By Application (Cord Blood, Oncology, Urology, Orthopedics, Neurology, Dermatology) – Forecast till 2022
Regenerative Medicine Market Dynamics
Global Regenerative Medicine Market can attain a rate of close to 25.4% between 2016 and 2022, considered to be the forecast timeframe in the recently launched report by Market Research Future (MRFR).
Growth Boosters and Key Barriers
The availability of a robust product pipeline in clinical trials coupled with increasing government and private funding that facilitate research can work in favor of the regenerative medicine market. A strong product pipeline indicates the striking potential of the market in the coming years. many of the companies in the market are making sizeable investments in research and development (R&D) for product upgradation by integrating them with the latest technologies. This strategic move helps these companies fulfill all the unmet consumer demands. Besides, the renowned companies are also analyzing and developing pipeline products for cancer, cardiovascular diseases and diabetes, and neurological disorders, given the rising prevalence of these diseases around the world.
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The rising number of programs in conjunction with massive investments by private agencies to enhance the development rate of the medical field also fosters market growth. To cite a reference, the National Institutes of Health or NIH is one such agency that backs the scientific research community via NIH Stem Cell Unit, NIH Stem Cell Libraries & Projects, NIH Regenerative Medicine Program, and others.
Likewise, initiatives taken by the industry players to increase the finance for R&D works wonders for the regenerative medicine market. Additionally, a number of vendors are collaborating to solidify their R&D capabilities in an attempt to commercialize creative therapies to cater to a higher number of customers locally or around the world.
Regenerative Medicine Industry Trends
Regenerative medicine is expected to gather significant attention in the healthcare sector, thanks to its rising applications as well as the substantial advancements in areas like stem cells, tissue engineering, drug discovery, nanotechnology, and gene therapy. For instance, 3D printing enjoys more demand compared to scaffold with stem cells in order to restore the structure as well as the functional properties of biological specimens.
The market for regenerative medicine has been studied with respect to segments like material, therapy and application.
The materials covered in the report are genetically engineered materials, synthetic materials, biologically derived materials, pharmaceuticals, and others.
The therapy-based segments are tissue engineering cellular therapy, stem cell biology, and others.
The market segments based on the application are oncology, cord blood, orthopedics, urology, dermatology, neurology, orthopedic, cardiovascular, and others.
Global market for regenerative medicine market seems to be expanding at a considerable pace and can immense traction in the primary regions of Latin America, Middle East & Africa, North America, Europe, and Asia Pacific (APAC).
MRFR identifies North America as the leading market for regenerative medicine, with the largest share of over 44% in the global market. The North American market is all set to achieve a lucrative growth rate of 22.3% in subsequent years, given the large number of universities and research organizations that are focused on researching a variety of stem cell-based techniques for regenerative apposition, especially in the United States (U.S.) as well as Canada.
Europe has emerged as the second-most profitable market for regenerative medicine and showcases a massive potential of achieving a growth rate of 22.5% in the coming years. Increasing cases of chronic diseases as well as conditions like Parkinson’s disease, diabetes, and Alzheimer’s disease is boosting the demand for regenerative medicines in the region and can help the market size expand substantially over the forecast timeline.
APAC is racing ahead at a rapid pace and can soon achieve the fastest growth rate in the global regenerative medicine market. Infrastructural development along with the modification of facilities in an attempt to speed up stem cell research in emerging countries benefits the market in APAC.
Regenerative Medicine Market Significant Players
Some of the significant players in the global market for regenerative include Advanced Cell Technology, Baxter International, Inc., Organogenesis, BioMimetic Therapeutics, Cook Biotech, LifeSciences, Medtronic, CryoLife, Stryker and RTI surgical, Osiris Therapeutics, Sanofi, LifeCell Kinetic Concepts, StemCellsInc, to mention a few.
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