Global Regenerative Medicines Market: Overview
Regenerative medicines are capable of repairing, regenerating, and replacing damaged organs and tissues owing to diseases, natural aging processes, or injuries. These medicines are competent of reinstating the functionality of tissues and cells and are also applicable in various degenerative disorders such as neurodegenerative diseases, dermatology, orthopedic applications, and cardiovascular. At present, researchers are focusing on the development of technologies dependent on genes, somatic, stem cells, and biologics. Stem cells are capable of differentiation and proliferation, and hence are vital in this field. Most of the available therapies for life-threatening or degenerative diseases are palliative; whereas, regenerative medicines can regenerate or replace the organs and tissues suffering from disease or injury.
Global Regenerative Medicines Market: Growth Factors
Rising frequency of trauma emergencies and chronic diseases, enhanced technologies in organ and tissue regeneration, development of stem cell technology, and the eminent ability of nanotechnology are prominent factors for the growth of the global regenerative medicines market. Besides these, scarcity of organs for transplantation and growing occurrence of degenerative diseases are assumed to propel the global regenerative medicines market growth. The notable potential of regenerative medicines to repair, regenerate, and replace injured organs and tissues has increased the growth of the global market. Furthermore, the use of nanomaterials in drug delivery, immunomodulation, and wound care has led to opportunities for the global market growth. However, the growth of the global regenerative medicines market can be hindered owing to the strict regulations, high treatment cost, high expenditure need for regenerative medicines, and lack of skilled experts.
Global Regenerative Medicines Market: Segmentation
The global regenerative medicines market can be segmented based on product, therapy, application, and geography. The product segment of the global market is divided into cell-based products and scaffold-free. The cell-based products are sub-segmented into autologous and allogeneic. The therapy segment of the global regenerative medicines market is diversified into tissue engineering, cell therapy, immunotherapy, and gene therapy. The application segment of the global market is classified into oncology, orthopedic and musculoskeletal spine, cardiovascular, dermatology, central nervous system, diabetes, and others.
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Global Regenerative Medicines Market: Regional Analysis
North America is anticipated to be the dominating region in the global regenerative medicines market. The growth of this region can be contributed to factors such as rising number of organ transplantation and rising need of research owing to ascending reports in various application domains such as oncology, orthopedic musculoskeletal spine, cardiovascular diseases, and others. Europe is also expected to grow at a fast pace in the global market in the near future.
Global Regenerative Medicines Market: Competitive Players
The prominent players in the global regenerative medicines market include Organogenesis Inc., Acelity, Celgene Corporation, NuVasive, Inc., Vericel Corporation (Genzyme), StemCells, Inc., and Japan Tissue Engineering Co., Ltd. The other major players in the global market are Anika Therapeutics, Inc., Baxter International, Inc., DePuy Synthes, Inc., Medtronic, Inc., and Arthrex, Inc.