Press release
Business Performance and Opportunity Analysis of Regenerative Medicine Market by 2023: Global Players Medtronic, Athersys & Stryker
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%.
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The major factors boosting the market growth include technological advancements in tissue and organ regeneration, increasing prevalence of chronic diseases and trauma emergencies, the prominent potential of nanotechnology, and the emergence of stem cell technology. Moreover, utilization of nanomaterials in wound care, drug delivery, and immunomodulation has opened growth avenues for the regenerative medicine market.
MARKET PLAYERS:
• Medtronic Plc.
• Athersys Inc.
• Stryker Corporation
• U.S. Stem Cell Inc.
• Zimmer Biomet Holdings Inc.
• Organogenesis Inc.
• Integra Lifesciences Holdings Corporation
• Acelity Holdings Inc.
• Isto Biologics
• CryoLife Inc.
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However, stringent regulations, operational inefficiency, and the high cost of regenerative medicine treatment are the key factors affecting market growth. Furthermore, advancements in stem cell technology and achieving core competency in the emerging economies are expected to fuel the market growth. Developed nations have adopted technological advancements in tissue engineering and regenerative medicine sectors, which would aid the expansion of the global market.
The cell therapy segment accounted for a significant share of about three-fifths the overall regenerative medicine market in 2016 due to the widespread adoption of cell therapy for treatment of several diseases such as musculoskeletal, cardiovascular, oncology, wound healing, and others.
KEY FINDINGS OF REGENERATIVE MEDICINE MARKET:
• The synthetic materials segment generated the highest revenue and is expected to continue its dominance in the future.
• North America dominated the global regenerative medicine market in 2016 and is projected to continue its dominance in the future.
• Small molecules and biologics segment is projected to grow at the highest rate among the product type segment during the analysis period.
• China is expected to grow at the highest rate in the Asia-Pacific region during the forecast period.
• Biologically derived materials segment was the largest contributor among the material segments in 2016.
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