Global, U.S. and Europe Regenerative Medicines Market Forecast To 2027 – By Major Key Players Smith & Nephew, Novartis, Medtronic Plc. And Others
Additionally, global regenerative medicines market is estimated to grow at a robust rate on the back of increasing adoption of stem cell technology to address the rising prevalence of chronic diseases. Moreover, emerging applications of gene therapy in regenerative medicines for tackling infectious diseases such as, malaria, HIV, tuberculosis and influenza or to target angiogenesis during cardiac surgery is leading to subsequent expansion in usage base of regenerative medicines around the globe.
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Major Key Players Studied in This Business Report:
Smith & Nephew, Novartis, Medtronic Plc., Stryker Corporation, Sangamo, Integra LifeSciences Corporation, Allergan Plc, Bayer AG, Zimmer Holdings, Baxter International Inc. and Others
Increasing incidences of chronic oncogenic diseases such as cancer with an estimated new cases of 18.1 million in 2018 as per International Agency for Research on Cancer (IARC), is anticipated to display rapid growth in application of regenerative medicines in the upcoming years.
Additionally, increasing application of regenerative medicines to treat auto-immune hepatitis, is expected to back the rampant growth in the upcoming years. Moreover, government initiatives to eliminate chronic diseases is anticipated to aid the growth in upcoming years. For instance, World Health Organization (WHO) launched an initiative to eliminate hepatitis completely by 2030. Furthermore, Regenerative medicines comprising blood stem cell implants can be used to restore healthy bone marrow in patients with leukemia. Besides, experiments in the gene therapy segment to explore benefits for various other medical applications, is expected to propel considerable growth in the regenerative medicines market in the upcoming years.
Application of regenerative medicines in tissue-engineering cartilages, modifying chondrocytes, and other tissue engineering technologies for treating traumatic and degenerative joint diseases is estimated to drive the market growth in the upcoming years. Additionally, increasing use of regenerative medicines in hepatocyte transplants for chronic liver disease treatments and liver failure conditions is propelling an exponential growth in the global market. Moreover, increasing use of poly-hemoglobin blood substitute produced through regenerative medicines to treat conditions of blood contamination or blood shortages is further propelling growth in the utilization of regenerative medicines in the hospitals, blood banks and research institutes.
Tissue engineering is a field majorly focused on development of tissue and organ substitutes by controlling biological, biophysical and/or biomechanical parameters in the laboratory. Of late, tissue engineering has gained popularity on the back of it’s utilization to bioengineer implantable devices, reconstitute decellularized organs, and manufacture organs using 3D bio-printing.
Additionally, rising geriatric population across the globe holds immense opportunities for regenerative medicines in the upcoming years. According to World Bank, population aged 65 and above increased from 7.64% in 2010 to 8.926% of the overall population in 2018. Moreover, change in climatic conditions and increase in sedentary lifestyles has led to drastic demographic changes in developed and developing countries, resulting in growing number of disease cases associated with aging. This aspect is attributed to contribute considerably to the regenerative medicines market growth across the globe
Changing environmental conditions with increasing penetration of ultraviolet rays to the earth’s surface due to global warming consequently impacting the human health by causing oncologic and dermatology based diseases is attributed to create an upsurge in demand for regenerative medicines during the forthcoming years. Additionally, increasing exposure of the present population to X-rays and gamma rays due to high nuclear energy involving practices is increasing incidences of cancer, subsequently propelling the regenerative medicines market across North America.
A sharp reduction in the size of secondary care institutions across Europe in the past decade has resulted in the streamlining of healthcare delivery and stimulated more efficient and integrated model of care that is anticipated to lead to complete conquer of the hospital-centric pattern of care over the forthcoming years. These change in patterns of healthcare are attributed to influence the regenerative medicines market positively across Europe
Increasing prevalence of diabetes retinopathy with rising cases of diabetes mellitus across Asia has resulted in rise in adoption of regenerative medicines for cornea regeneration and other ophthalmic applications driving the market subsequently in the continent over the past. Besides, new application discoveries in the field of regenerative medicines through extensive research and development activities across the countries of India, Japan and China are anticipated to boost the market positively during the forecast period.
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