Regenerative Medicine Market Growth 2023 - Key drivers, Business
Regenerative Medicine Market Overview
Market Research Future (MRFR) studied the global regenerative medicine market 2020 can expand at about 25.4% CAGR across 2016 to 2022. By 2022, the regenerative medicine market can value at considerable amount. The regenerative medicine market COVID 19 impact is offered along with the report. The revolutionary patient care solution of the 21st century, regenerative medicine is observed to gain traction at rapid pace due to shift in treatment paradigm. The introduction of disruptive medical technologies, such as; nanotechnology, stem cell therapy, and bioengineering, is observed to add value to regenerative medicine treatment.
These factors can contribute to the expansion of the regenerative medicine market. Increase in place cost pressure and surge in demand for effective patient care among the rise in patients suffering from degenerative and chronic diseases are other causes that can drive the regenerative medicine therapies market in the near future. The expansion of product portfolio for the surgical biologics and wound care solutions, along with extensive study of advanced tissue sciences can improve impetus of the market.
Regenerative Medicine Market Segments
The segment assessment for the worldwide regenerative medicine market is based on material, application, and therapy. The material-based segments of the worldwide regenerative medicine market are pharmaceuticals, synthetic materials, genetically engineered materials, and biologically derived materials among others. The therapy-based segments of the worldwide regenerative medicine market are tissue engineering, stem cell biology, and cellular therapy among others. The application-based segments of the worldwide regenerative medicine market are urology, cord blood, oncology, dermatology, cardiovascular, orthopedics, neurology, and orthopedic among others.
Biodegradable scaffolds are used in the engineering of replacement tissues over synthetic polymer scaffolds due to their ability to induce infection. The increase in adoption of decellularised matrices and biologics for scaffolds as they offer effective ways of replication of native tissue anisotropy and their affordability can favor expansion of the market in the near future. Decellularised matrices are durable and offer enhanced biocompatibility avoiding allosensitization and is responsible for significant breakthroughs in autologous cell-seeding study. These can also favor expansion of the regenerative medicine market in the assessment period. However, issues with interest and investment in tissue engineering research can hinder market rise.
Regenerative Medicine Market Regional Insights
North America rejuvenate medicine market is estimated to hold greatest share of the worldwide market by 2022. Top-notch marketers in the region and their rapid advances in medical technology can favor the market. Moreover, high investments in oncology and stem cell research can also support regenerative medicine market in North America. The existence of reputed R&D institutes working on regenerative medicine can accelerate the market growth in the near future.
In Europe, the regenerative medicine market can expand exponentially by 2022. Asia Pacific regenerative medicine market can thrive in approaching years as considerable investments are made in healthcare research via FDI and funding from reputed organizations. Development in stem cell research and the availability of flexible regulatory environment, along with increase in clinical trials for cell-based regenerative therapies across India and Japan that reflect industrial progress can support the regional market upsurge.
Regenerative Medicine Market Company Analysis
Organogenesis Inc. (U.S.), Sanofi (France), StemCells Inc. (U.S.), Integra LifeSciences (U.S.), Vericel Corporation (U.S.), Osiris Therapeutics, Inc. (U.S.), Stryker Corporation (U.S.), Medtronic (Ireland), NuVasive, Inc. (U.S.), Acelity (KCI Concepts) (U.S.), C.R. Bard (U.S.), Advanced Cell Technology (U.S.), BioMimetic Therapeutics (U.S.), Baxter International, Inc. (U.S.), Cook Biotech Inc. (U.S.), RTI surgical (U.S.), and CryoLife (U.S.), LifeCell Kinetic Concepts (U.S.) among other. Transplant medicine and regenerative medicine are converging as a scientific discipline, thus market players of stem cell biology, molecular biology, and biomaterials are observed to gain greater prospects.