SEATTLE, July 22, 2021, (MEDGADGET) — Global Regenerative Medicine (Bone and Joint) market analysis
Overview
Regenerative drugs are prescription products or active medicinal substances that have the capacity to repair organs and tissues that have been weakened by ageing or disease, and can also be used to maintain the wellbeing of congenital conditions like cerebral palsy, Fragile X syndrome, and Down syndrome. In terms of multiple abnormalities such as coronary ailments, dermal cuts, and the prevention of some forms of cancer, regenerative drugs are effective in treating both chronic and acute illnesses. Moreover, the new treatment for treating organ and tissue failures, organ and tissue transplantation, can result in patient mortality due to a lack of donor supply or serious immune system problems. To a large degree, regenerative medicine aids in the relief of those problems. The development of approaches to regrow, restore, or replace weakened or diseased cells, muscles, or tissues is referred to as regenerative medicine. The generation and application of stem cells, as well as tissue engineering, are also part of this medical division.
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During the forecast period (2020-2027), the global regenerative medicine (bone and joint) market is projected to have a market valuation of US$ 7,090.1 million in 2020 and is anticipated to manifest a CAGR of 10.3%.
Regulatory agencies and federal agencies are working to launch a variety of projects to help the global regenerative medicine (bone and joint) industry expand. In January 2017, the US FDA has started a new designation scheme for regenerative medicine therapies. The RMAT (Regenerative Medicine Therapy) Designation program will help regenerative medicine drugs get approved and developed.
Market Taxonomy
- According to the technology: Tissue Engineering, Stem Cell, Biomaterial.
- According to the application: Autogenic Bones, Osteoarticular Diseases, Bone Graft Substitutes, Allogeneic Bones, Others.
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Impact of COVID-19 Pandemic
The most recent outbreak is the coronavirus (COVID-19) pandemic, which was first reported on December 31, 2019 in Wuhan, China. COVID-19 was declared a pandemic by the World Health Organization on March 11, 2020. Globally, over 109 million cases were registered on February 15, 2021, according to the WHO’s Coronavirus Disease (COVID-19) Weekly Epidemiological Update: January 10, 2021.
Furthermore, the COVID-19 pandemic has harmed clinical trials of a variety of novel medication compounds, medications, and therapies, which is expected to have an impact on the global regenerative medicine (Bone and Joint) market. The COVID-19 pandemic has hampered the start of clinical trials, according to the Indian Journal of Medical Sciences on June 6, 2020, due to a lack of trial site personnel, travel limits, investigational product supply, and other factors.
As per the report from the NCBI (National Center for Biotechnology Information), on April 29, 2020, development programmes and preclinical operations in the cell and gene therapy field were interrupted as businesses cut the number of people working on the site to keep them safe. About 85% of staff at cell and gene therapy firms operate from home for several weeks at a time, which is one of the reasons for the trials’ postponement. Furthermore, a scarcity of laboratory consumables, personal protective equipment (PPE), and reagents are some of the reasons for clinical trial delays.
Many clinical trials have halted enrolment in order to reduce the possibility of contracting COVID-19, according to the NCBI (National Center for Biotechnology Information), and this has caused a pause in the activation of new clinical trials. Furthermore, several firms have already failed to follow up on patients who have already completed trials. Travel limits, medical worries over contracting coronavirus infection, and other reasons all contributed to patients skipping the clinical trial.
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Regional Analysis
During the forecast period, the regenerative medicine (Bone and Joint) market in North America is expected to expand due to an increase in the number of product approvals by regulatory authorities. Medtronic plc announced in September 2019 that its prospective, randomized pivotal clinical trial for the use of Infuse Bone Graft in Transformational Lumbar Inter-body Fusion (TLIF) spine procedures have been approved by the US Food and Drug Administration. A TLIF is a form of surgery that uses a posterior method to fuse or link bones in the spine.
Furthermore, in order to extend their regional presence, market players in Europe are focusing on opening new manufacturing facilities for regenerative medicine research and development, which is expected to create a lucrative climate for market expansion. Minaris regenerative medicine (Bone and Joint), a contract research and manufacturing company, announced the opening of a new cell and gene therapy development and manufacturing facility in Ottobrunn, Germany, on November 3, 2020. In 2023, the new facility will be operational.
Regulatory restrictions, such as the requirement that businesses meet good manufacturing practise (GMP) and good tissue practise (GTP) guidelines when designing regenerative medicines, are also expected to stymie the global regenerative medicine (bone and joint) market’s development. Biologics are cellular and tissue-based drugs derived from humans. Good manufacturing practise (GMP) and good tissue practise (GTP) standards must be followed by all regenerative medicine materials used in bone and joint reconstruction procedures. The US Department of Health and Human Services’ Office of Cellular, Tissue, and Gene Therapies (OCTGT) is in charge of cellular, tissue, and gene therapies, oversees and controls regenerative medicine drugs. Cellular gene therapy, gene therapy, tissue cellular therapy, and tissue modification are also monitored by OCTGT.
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Key Players
Key companies contributing in the global regenerative medicine (bone and joint) market are CONMED Corporation, Medtronic, Plc, Stryker Corporation, Anika Therapeutics, Inc, Baxter International, Inc., Ortho Regenerative Technologies Inc., Aziyo Biologics, Arthrex, Inc., Zimmer Holdings, Inc., Smith & Nephew plc, and Johnson & Johnson.
Table of Contents
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Technology
- Market Snippet, By Application
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Drivers
- Restraints
- Opportunities
- Impact Analysis
- Market Trends
- Key Developments
- Regulatory Scenario
- PEST Analysis
- Global Regenerative Medicine (Bone and Joint) Market – Impact of Coronavirus (Covid-19) Pandemic
- COVID-19 Epidemiology
- Impact of Covid-19 on Clinical Trials
- Government Initiatives
- Global Regenerative Medicine (Bone and Joint) Market, By Technology, 2016 – 2027, (US$ Mn)
- Introduction
- Market Share Analysis, 2020 and 2027 (%)
- Y-o-Y Growth Analysis, 2017– 2027
- Segment Trends
- Stem Cell
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020 – 2027, (US$ Mn)
- Biomaterial
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020 – 2027, (US$ Mn)
- Tissue Engineering
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020 – 2027, (US$ Mn)
- Stem Cell
- Introduction
- Global Regenerative Medicine (Bone and Joint) Market, By Application, 2016–2027 (US$ Mn)
- Introduction
- Market Share Analysis, 2020 and 2027 (%)
- Y-o-Y Growth Analysis, 2017– 2027
- Segment Trends
- Bone Graft Substitutes
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020 – 2027, (US$ Mn)
- Osteoarticular Diseases
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020 – 2027, (US$ Mn)
- Allogeneic Bones
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020 – 2027, (US$ Mn)
- Allogeneic Bones
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020 – 2027, (US$ Mn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020 – 2027, (US$ Mn)
- Bone Graft Substitutes
- Introduction
- Global Regenerative Medicine (Bone and Joint) Market, By Region, 2016–2027 (US$ Mn)
- Introduction
- Market Share Analysis, By Country, 2020 and 2027 (%)
- Y-o-Y Growth Analysis, For Countries, 2017–2027
- North America
- Introduction
- Market Size and Forecast, By Technology, 2020–2027 (US$ Mn)
- Market Size and Forecast, By Application, 2020–2027 (US$ Mn)
- Market Size and Forecast, By Country, 2020-2027 (US$ Mn)
- U.S.
- Canada
- Latin America
- Introduction
- Market Size and Forecast, By Technology, 2020–2027 (US$ Mn)
- Market Size and Forecast, By Application, 2020–2027 (US$ Mn)
- Market Size and Forecast, By Country, 2020–2027 (US$ Mn)
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Europe
- Introduction
- Market Size and Forecast, By Technology, 2020–2027 (US$ Mn)
- Market Size and Forecast, By Application, 2020–2027 (US$ Mn)
- Market Size and Forecast, By Country, 2020–2027 (US$ Mn)
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- Introduction
- Market Size and Forecast, By Technology, 2020–2027 (US$ Mn)
- Market Size and Forecast, By Application, 2020–2027 (US$ Mn)
- Market Size and Forecast, By Country, 2020–2027 (US$ Mn)
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- Introduction
- Market Size and Forecast, By Technology, 2020–2027 (US$ Mn)
- Market Size and Forecast, By Application, 2020–2027 (US$ Mn)
- Market Size and Forecast, By Country/Region, 2020–2027 (US$ Mn)
- GCC
- Israel
- Rest of Middle East
- Africa
- Introduction
- Market Size and Forecast, By Technology, 2020–2027 (US$ Mn)
- Market Size and Forecast, By Application, 2020–2027 (US$ Mn)
- Market Size and Forecast, By Country/Region, 2020–2027 (US$ Mn)
- South Africa
- Central Africa
- North Africa
- Introduction
- Competitive Landscape
- Company Profiles
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