The global regenerative medicine market size is expected to reach USD 5.60 billion by 2025, expanding at a CAGR of 11.6% over the forecast period, according to a new report by Grand View Research, Inc. Regenerative medicines are expected to have a significant impact in healthcare to treat specific indications and chronic conditions. Therefore, high prevalence of cancer, neurodegenerative, orthopedic, and other aging-associated disorders coupled with increasing global geriatric population is driving the market growth. Moreover, rising prevalence of inheritable genetic diseases is anticipated to fuel the demand in the field of biotechnology field.
Market players are engaged in implementing novel protocols for the release of novel therapeutics. For instance, in July 2018, Convelo Therapeutics launched regenerative medicines for the treatment of various neurological diseases, such as multiple sclerosis.Agreements models initiated by the companies coupled with commercialization in emerging countries fuels the growth. For instance, in March 2018, Hitachi Chemical signed an agreement with the Daiichi Sankyo and SanBio Group to conduct clinical manufacturing of regenerative medicines developed by respective companies for Japanese and U.S. markets.
Regenerative medicine is anticipated to witness great attention in healthcare sector due to its wide range of applications and significant advancements tissue engineering, stem cells, gene therapy, drug discovery, and nanotechnology. For example, 3D printing is preferred over scaffold with stem cells to restore structure and functional characteristics of biological specimens.
Browse Details of Report @ https://www.grandviewresearch.com/industry-analysis/regenerative-medicine-market
North America held the largest regenerative medicine market share in terms of revenue in 2018 and is projected to continue its dominance in near future. A significant number of universities and research organizations investigating various stem cell-based approaches for regenerative apposition in U.S. is anticipated to propel the growth.
Regenerative Medicine Market Report Highlights
· Therapeutics emerged dominant among product segments in 2018 due to high usage of primary cell-based therapies along with advances in stem cell and progenitor cell therapies
· Implementation of primary cell-based therapies in dermatological, musculoskeletal, and dental application results in highest share of this segment
· Stem cell and progenitor cell-based therapies are anticipated to witness rapid growth due to high investments in stem cell research and increasing number of stem cell banks
· With rise in R&D and clinical trials, key players are offering consulting services leading to lucrative growth of the services segment
· Asia Pacific is projected to witness the fastest CAGR during the forecast period due to rapid adoption of cell-based approaches in healthcare and emergence of key players
· Key players operating in the regenerative medicine market including AstraZeneca; F Hoffmann-La Roche Ltd.; Pfizer Inc.; Merck & Co., Inc.; Integra LifeSciences Corporation; and Eli Lilly and Company