Regenerative Medicine Market is projected for Promising Growth Prospects Over 2017 to 2023
Key factors that promote market growth include technological advances in tissue and organ regeneration, increased prevalence of chronic diseases and trauma emergencies, the remarkable potential of nanotechnology and the emergence of stem cell technology. In addition, the use of nanomaterials in wound healing, drug delivery and immunomodulation has opened a growth path for the regenerative medicine market.
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However, stringent regulations, operational inefficiencies and the cost of regenerative medicine treatments are key factors affecting market growth. In addition, the development of stem cell technology and the achievement of core competencies in emerging countries are expected to stimulate market growth. In developed countries, we will adopt technology advances in tissue engineering and regenerative medicine to help expand the global market.
According to Allied Market Research, the global regenerative medicine market was valued at $5,444 million in 2016 and is estimated to reach $39,325 million by 2023, registering a CAGR of 32.2% from 2017 to 2023. North America is the highest contributor in the regenerative medicine market in 2016; however, Asia-Pacific is expected to witness the highest growth rate during the forecast period.
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Major Key Players:
• Stryker Corporation
• Zimmer Biomet Holdings Inc.
• Medtronic Plc.
• Athersys Inc.
• U.S. Stem Cell Inc.(Bioheart Inc.)
• Organogenesis Inc.(Advanced Biohealing)
• Integra Lifesciences Holdings Corporation
• Acelity Holdings
Key Findings of the Study:
• The small molecule and biologics sectors are expected to grow at the highest rate among the product type segments during the analysis period.
• North America has dominated the global regenerative medicine market in 2016 and is expected to continue to dominate the market in the future.
• China is expected to grow at the highest rate in the Asia Pacific region during the forecast period.
• The biologically derived material segment made the largest contribution to the material segment in 2016.
• The synthetic materials sector has generated the highest revenue and is expected to continue to dominate the future.
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Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.
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