Global Regenerative Medicine Market - Overview
The global market for regenerative medicine is growing steadily. Factors that influence the regenerative medicine market are increasing advancement in healthcare technology, increasing prevalence of chronic diseases and the rising growth in stem cell technology is driving the growth of the market.
The demand for biologically derived materials for regenerative medicine is currently high due to its efficiency over other naturally derived materials. During the surgical procedures, synthetic materials are more preferred as they provide better outcome. Increase in demand for material reengineering and cell biology with the recent progress in the design of synthetic materials have led to the use of hydrogel in the formation of tissue-engineered scaffolds.
Furthermore, the increasing incidence of degenerative diseases and shortage of organs for transplantation are expected to boost the growth of the market. The prominent potential of regenerative medicine to replace, repair, and regenerate damaged tissues and organs has boosted the market growth. Moreover, utilization of nanomaterials in wound care, drug delivery, and immunomodulation has spurred the growth avenues for the regenerative medicines market. However, stringent regulatory barriers and high cost of the treatment are likely to hinder the market growth
Numerous government bodies are encouraging the growing regenerative medicine market. For instance, National Institutes of Health (NIH) supports scientific research community through NIH Regenerative Medicine Program, International SC Research, State Initiatives for Stem Cell Research, NIH SC Unit, NIH SC Libraries & Projects, and NIH SC Translation Laboratory. However, identifying the potential clinical applications in countries such as U.S., UK, China, and Japan have introduced changes in their regulatory policies to encourage research. Thus, the industry is projected to reflect accelerated growth over the forecast period.
Globally the regenerative medicine market report asserts the growth is expected to grow at the rate of about 25.4% from 2016 to 2022.
Industry Updates
October, 2017 Advanced Medical Solutions Group and Organogenesis Inc. enter into patent out-licensing agreement. The companies have agreed on the US patent on the collagen-based wound dressing containing Polyhexamethylene Biguanide
July, 2017 Baxter International Inc., a global medical products company announced the acquisition of Claris Injectables Limited. The acquisition is expected to broaden Baxter’s presence in the generic pharmaceuticals market and will boost the supply of essential medicines to the customers.
March, 2017 Organogenesis Inc. has acquired NuTech Medical. The newly-formed company has expanded product portfolio for the wound care and surgical biologics markets.Global Regenerative Medicine Market - Regional Analysis
Global Regenerative medicine market, on the basis of regions is divided into Americas, Europe, Asia Pacific and Middle East and Africa.
North America is estimated with highest share in revenue owing to presence of major players and rapid advances in technology along with high investments in stem cell & oncology research. Furthermore, active presences of organizations such as Alliance for Regenerative Medicine, National Institutes of Health, National Cancer Institute, International Society for Stem Cell Research, and National Stem Cell Foundation that promote R&D of regenerative medicine is expected to further accelerate growth in this region.
Europe is the second-largest market for regenerative medicine. Asia Pacific is projected to witness fastest growth over forecast period owing to high investments in healthcare research by the emerging economies in the region. Advances in stem cell research and presence of flexible regulatory environment for clinical adoption of cell-based regenerative therapies, China and Japan are expected to reflect rapid industrial progress.
Global Regenerative Medicine Market - Company Analysis
The global regenerative medicine market is observed to be highly competitive and fragmented. The key entities are perceived to have high investments in development of regenerative therapies to capture the untapped potential by innovating novel therapies to meet the demand for unmet clinical needs.
In addition, key players are witnessed to focus on oncology & age-related degenerative disorders to compete in the market. Thereby, the industry witnesses a strong pipeline of products in clinical trials, which eventually are expected to drive revenue generation.
Organogenesis Inc. (U.S.), Osiris Therapeutics, Inc. (U.S.), Vericel Corporation (U.S.), Stryker Corporation (U.S.), NuVasive, Inc. (U.S.), Medtronic (Ireland), Acelity (KCI Concepts) (U.S.), Integra LifeSciences (U.S.), Cook Biotech Inc. (U.S.), C.R. Bard (U.S.), RTI surgical (U.S.), Baxter International, Inc. (U.S.), Advanced Cell Technology (U.S.), CryoLife (U.S.), Sanofi (France), BioMimetic Therapeutics (U.S.), StemCells Inc. (U.S.), LifeCell Kinetic Concepts (U.S.) and others are some of the prominent players at the forefront of competition in the global regenerative medicine market and are profiled in MRFR Analysis.
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