The Global Regenerative Medicine market is anticipated to grow at a high rate in the forecasted period on account of increasing advancement in monitoring devices and surgical technologies and rising genetic disorders, chronic diseases and diabetes in the people due to the surging adoption of deskbound lifestyles and unhealthy dietary habits. Along with this, burgeoning government funding towards R&D activities for regenerative medicine, growing elderly populace and rising rate of government association approval for the use of regenerative medicine for the treatment of various disease is strongly contributing to the growth of the market.
Based on Application, Musculoskeletal Disorders segment grabbed the largest market share in 2019 owing to the burgeoning rate of orthopaedic diseases in ageing population Oncology is growing at a significant rate in the regenerative market in 2019. The growth of the segment is attributed to growth in the incidence of cancer cases, rising government organizations and private companies’ expenditure for the R&D of regenerative & advanced cell therapies and robust pipeline of regenerative medicines for cancer treatment.
Based on Type, Tissue Engineering acquired the majority market share in 2019 due to the increasing incidences of musculoskeletal disorders in the elderly populace which is increasing the adoption of tissue engineering and therapy which help in gene therapy and tissue engineering in orthopaedic surgery.
North America is the dominant region in the Global regenerative market in 2019. US captured the majority market share in North America market owing to the significant rise in the number of diabetic patients and Alzheimer’s disorders, easy accessibility of modern healthcare facilities along with growing awareness among public regarding the availability of stem cell procedures and therapies effectively curing cancer and diabetes. Hence, this is anticipated to proliferate the demand for regenerative medicine in the forthcoming years.
The key players with a considerable market share in the Global Regenerative Medicine market include Novartis AG, Vericel, Stryker, Spark Therapeutics, Wright Medical, Pfizer, Abbott, Astra Zenca Ltd., Astellas Pharma Inc., Osiris Therapeutics, Mimedx Group, Organogenesis Inc., Athersys, Inc, Acelity Holdings, Inc, etc.
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