Regenerative Medicine Market - Global Industry Analysis 2024
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Furthermore, players in the regenerative medicine market focus on fueling growth in the pharmaceutical sector by adopting various strategies such as including the use of different materials in the preparation that can offer better results and newly generated cells or with the combination of both, in turn replacing the missing tissue and effectively serving its functions. The innate healing response of the human body can also be favored to support the regenerating activities. Age is a major factor that can affect the regeneration of the desired part, as the body’s ability to regenerate is low among adults as compared to young population or lower vertebrates. Materials play an important role in regeneration activities, as they form the basis of the growth and replacement, as they can mimic the native extracellular matrix (ECM) of tissues.
Regenerative medicine market taxonomy:
Stem Cell Therapy
By Product Type
Orthopedic & Musculoskeletal Disorders
Central Nervous System Disorders
Algae Derived Alginate
By Agent Type
Hematopoietic stem and progenitor cells
Cell-based medical devices
Rising number of bone and joint surgeries to fuel the growth of regenerative medicine market in the near future:
Rise in number of trauma case globally is expected to favor growth of the regenerative medicine market in the near future. There are different types of prosthetics and implants that are used to support the human body movement in case of trauma and severe injury. However, a majority of the young population perceives these to be an eye sore and are increasingly inclined towards non-obtrusive options that do not drastically alter their physical appearance and activities. Regenerative medicine provides a viable alternative to such conventional methods and also reduces risk of deformity. However, regenerative medicine is significantly expensive as compared to conventional methods of treatment. Also, this treatment option is barely effective for treatment of the geriatric population. These factors impede growth of the market to a certain extent. According to University of California, Los Angeles (UCLA) Department of Orthopedic Surgery, in 2015, around 7,515 orthopedic surgeries were conducted in the U.S. by the department from July 2014 to June 2015. This number is expected to rise due to rise in number of orthopedic trauma cases in the region, which is further projected to favor growth of the regenerative medicine market in the near future.
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Developed regions major growth engines of the regenerative medicine market
Developed countries such as the U.S., Germany, U.K., France, and Japan have a highly developed market for regenerative medicine, mainly due to technical advancements in the region. According to Regenerative Medicine Annual Report, in 2013, in regenerative medicine market there has been various product approvals along with annual revenue of around US$ 1 billion. Thus, this sector is expected to attract attention from investors and industry partners in the near future. Furthermore, as per the report, around 60,000 stem cell transplants are performed globally each year to treat various cancers and blood-based disorders. This augments growth of the market of regenerative medicine. Also, as observed by Alliance for Regenerative Medicine (ARM), in 2012, the bio-therapeutic companies distributing cell therapy products generated around US$ 900 million, with 160,000 patients undergoing various related treatments.
Major acquisitions to support growth of regenerative medicine market
There are few recent acquisitions by the big brands in biotechnology that is expected to favor growth of regenerative medicine industry. In August 2016, Medtronic Inc. acquired Heart Ware International, Inc. — a provider of technologies for less-invasive, miniaturized, mechanical circulatory support (MCS) for treatment of patients with advanced heart failure. This acquisition is further expected to favor the working efficiency of the company and broadens its product portfolio. Key players operating in the regenerative medicine market include Depuy Synthes, Inc., Orthofix, Inc., NuVasive, Inc. and Zimmer Holdings, Inc.
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