The Global Regenerative Medicine Market is expected to reach the US $38.70 Billion, at a CAGR of 23.6%.
The report “Regenerative Medicine Market by Therapy (Cell Therapy, Tissue Engineering, Immunotherapy, Gene Therapy), Product (Cell-Based, Acellular), Applications (Orthopedic & Musculoskeletal Disorders, Dermatology, Oncology, Cardiology) — Forecast to 2021”.
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The report segments this market based on types, therapy, application, and regions.
Ethical concerns with the use of embryonic stem cell for R&D is a major factor restraining the growth of the market. Research in regenerative medicine necessitates the use of animals and humans in gene therapy studies that involve the recombination of genes and stem cell research therapies. These cells are also used for in vivo toxicity and pharmacokinetic testing of drugs that may harm animals and humans. In addition, stem cell research studies use human embryos for clinical applications that often lead to the destruction of the embryos.
Regenerative Medicine Market Dynamics:
- Government & Private Funding to Support the Development of Regenerative Medicine
- Rising Prevalence of Chronic Diseases and Genetic Disorders
- Increase in Global Healthcare Expenditure
- Rapid Growth in the Aging Population
- Increase in Corporate Partnerships to Accelerate Development and Commercialization of Regenerative Medicine
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- Ethical Concerns with the Use of Embryonic Stem Cell for R&D
- Lack of Clear Regulatory Guidelines
- Rising Demand for Organ Transplantation
- Strong Product Pipeline
By application, orthopedic & musculoskeletal disorders, dermatology, cardiology, diabetes, central nervous system diseases, and other applications. Oncology is expected to account the fastest growing market owing to increasing prevalence of cancer globally and rich product pipeline and increasing demand for cancer treatments.
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Based on regions, the global Regenerative Medicine Market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America is expected to account for the largest share of the market during the forecast period. Growth in this regional segment is driven by factors such as technological advancement in the Regenerative medicine and rising incidences of chronic diseases and aging population.
Key players in the Regenerative Medicine Market include Organogenesis Inc. (U.S.), Osiris Therapeutics, Inc. (U.S.), Vericel Corporation (U.S.), Stryker Corporation (U.S.), and NuVasive, Inc. (U.S.), Medtronic (Ireland), Acelity (KCI Concepts) (U.S.), Integra LifeSciences (U.S.), Cook Biotech Inc. (U.S.), and C.R. Bard (U.S.).