Global Regenerative Medicine Market: Snapshot
Regenerative medicine is a biomedical development. It is a branch of translational research in molecular biology and also an emerging interdisciplinary field which deals with the science and tools that involved in the regeneration of the diseased human tissues and organs such as skin, kidney, heart, and liver. Additionally, it involves the transplantation of stem cells, progenitor cells to restore normal function of organs. Stem cell research impacting regenerative medicine at a greater range along with gene therapy, chemical biology, cellular therapeutics, and developmental cell biology. Future of tissue engineering and regenerative medicine rely on innovative biomaterials combined with nanotechnology. Regenerative medicine centralized primarily in curing disease rather than treating the disease by using the natural self-healing power of a being’s own body.
Orthopedic& Musculoskeletal application is booming among other applications due to the domineering role of regenerative medicine attendant with different therapies such as platelet-rich plasma, bone marrow aspirate concentrate, adipose-derived mesenchymal stem cells, and human amniotic membrane-derived tissues. It has grabbed the attention of athlete professionals with its promising treatment regarding musculoskeletal injuries. For this, it is projected to grow at a CAGR of 21%-23% over the forecast period. As a part of IndustryARC research, North America has found to be a dominating region with a share of nearly 30%-32% in the global regenerative medicine market for the year 2018. Efficacious uptake of regenerative medicine through the Centre for Commercialization of Regenerative Medicine in Canada, the California Institute for Regenerative Medicine, the Advanced Regenerative Manufacturing Institute in New Hampshire, and Florida Organization for Regenerative Medicine to enhance the patient outcomes are increasing the demand and growth of regenerative medicine market in this region
According to the IndustryARC analysis, the global regenerative medicine market was valued $26 billion – $27 billion in 2018. This information is revealed in a fresh business intelligence report titled: “Regenerative Medicine Market: By Therapy (Cell therapy, Gene therapy, Tissue engineering, Small molecules and Biologics); By Product (Cell-Based Products and Acellular Product); By Material (Synthetic material, Biologically derived material, Pharmaceutical, and Others); By Application (Cardiology, Oncology, Dermatology, Ophthalmology, and Others); &By Geography Forecast (2019-2025).” Increasing investments of Federal Government agencies in research of intensive regenerative medicine is stimulating the collaboration between the clinicians and researchers by creating unique opportunities to replace different tissues and organs. These factors altogether accompanying, the growth of the global regenerative medicine market at a progressive CAGR of around 22%-24% through to 2025.
Global Regenerative Medicine Market Companies: Recent Developments
Vertex Pharmaceuticals Incorporated, Medtronic Plc, Allegan Plc, Smith & Nephew Plc, Nuvasive, Inc, Cytori Therapeutics, Inc, Vericel Corporation, BlueRock Therapeutics, Octane Biotech Inc, and Theracell Advanced Biotechnology Ltd are the key players operating in the global regenerative medicine market.
- In March 2019, Smith & Nephew Plc acquired Osiris Therapeutics Inc., which is an evolving company with its regenerative medicine products which comprises of skin, bone grafts, and articular cartilage substitutes. Through this acquisition Smith aimed to expand its regenerative medicine portfolio.
- Transplantation of pluripotent stem cells and allogeneic mesenchymal stem cell are widely used in treating patients, these in return creating significant opportunities for regenerative medicine.
Regenerative medicine is the most pioneering medicine which is used in curing the injuries allied with skin, bone, heart, liver, and kidney. As it is majorly used to repair the damaged joints, thus orthopedic and musculoskeletal applications are fuelling the growth of regenerative medicine
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