The report “GLOBAL REGENERATIVE MEDICINES MARKET”: Segmentation By Application(Orthopaedic and Musculoskeletal Disorders, Dermatology, Cardiology, Central Nervous System Diseases, Oncology and Others), By Therapy (Cell Therapy, Immuno Therapy, Tissue Therapy And Others), By Material (Algae Derived Alginate, Synthetic Polymer, Poly-Lactide-Coglycolide and Others),By Agent Type(Biologics, Cell Based Medical Devices and Bio Pharmaceuticals); By Geography (Asia Pacific, North America, Europe, Middle East & Africa, South America), By Company Profile, Forecast (USD Billion) and Estimation 2018-2024.The global regenerative medicines market value was marked at $ 17.625Billion in 2017 and is expected to reach $ 51.453 Billion by 2024 at a CAGR of 23.8%. Regenerative medicine is a branch involved with repair, replace and regenerate tissues and organs affected due to injury, disease or natural aging process.
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Regenerative medicines market by therapy consists of cell therapy, gene therapy, tissue engineering and immunotherapy. The cell therapy segment accounts to have largest regenerative medicines market share owing to the increasing funding from several agencies and private organizations for the research and development of cell therapies, growing inclination of the healthcare industry towards stem cell research and increasing global awareness about the benefits of stem cell therapies. Growing prevalence of chronic diseases such as bone and joint diseases and trauma emergencies, growing need for orthopaedic surgeries, innovation in stem cell therapy, technological innovations and tissue engineering are boosting the regenerative medicines market growth.
Regenerative medicines market report estimates that North America contributes the major regenerative medicines market size and is anticipated to account the largest share of the market during the forecast period owing to the advancement in technology in the regenerative medicine and increasing incidences of chronic diseases and aging population. Regenerative medicines market trends include recent acquisitions in biotechnology is leading the regenerative medical industry have favourable growth and Medtronic acquired heart wave international which is provider of technologies for mechanical circulatory support for patient’s treatment. This acquisition further is projected to have the company by broadening its products portfolio. On the basis of regenerative medicines market analysis, oncology segment contributes major size of the market owing to the increasing prevalence of cancer globally and rich product pipeline and increasing demand for cancer treatments.
As per regenerative medicine market forecast, increase in corporate partnerships to accelerate development and commercialize of regenerative medicine, increase in global health care expenditure, rapid growth in aging population, prevalence of chronic diseases and genetic disorders are propelling to grow the regenerative medicine market size. North America is anticipated to contribute the largest share of the market. On the other hand, Asia Pacific is estimated to grow at the highest CAGR during the forecast period.
As per Regenerative medicines market outlook 2017, gene therapies segment is anticipated to be the fastest emerging technology owing to the tremendous potential of gene therapy in minimizing immune rejections, which commonly occur after transplantations. Europe and North America together accounted for over 3/4th of the market revenue and anticipated to be most profitable regional market. Regenerative medicines market in India is anticipated to show a major growth owing to the government and private funding to support the development of regenerative medicine, rising prevalence of chronic diseases and genetic disorders, increase in global healthcare expenditure, and rapid growth in the aging population.
Stryker Corporation, CONMED Corporation, Anika Therapeutics Inc., Zimmer Holdings Inc., Medtronic Inc.and some others are the major key players for the global regenerative medicines market.