"We Envision Growth Strategies Most Suited
to Your Business"
The Global Regenerative Medicine Market will drive growth from the paradigm shift from traditional pharmacological approaches to modern healthcare. According to a report published by Fortune Business Insights, titled “Regenerative Medicine: Global Market Analysis, Insights and Forecast, 2019-2026,” the market was valued at US$ 23,841.5 Mn in 2018. Fortune Business Insights states that the market will reach US$ 151,949.5 Mn by the end of 2026, thereby exhibiting a CAGR of 26.1%.
Regenerative medicine involve the use of genetic material to treat, manage, and repair damaged cells in the body. According to the US National Institutes of Health, tissue engineering, biomaterials, and gene therapy are all included in regenerative medicine. Advancements in regenerative medicine indicate potential to treat incurable diseases as well as life-threatening diseases such as Alzheimers and Parkinson’s disease. According to the Alliance for Regenerative Medicine, there are around 1028 clinical trials on the development of regenerative medicine. According to Fortune Business Insights, around 13.3 Bn have been invested altogether towards the research and development of regenerative medicine. The aforementioned factors will favor the growth of the global regenerative medicine market in the forthcoming years.
Increasing Investment in R&D of Regenerative Medicine to Enable Growth
The growing investment in research and development of regenerative medicine has made a significant contribution to the growth of the global market. The increasing investment from private as well as government organizations has had a positive impact on the global market. IN March 2018, SanBio collaborated with Hitachi Chemical Advanced Therapeutics Solutions for developing regenerative medicine across a wide range of applications. This agreement was positively influenced growth in the global regenerative medicine market. Furthermore, increasing healthcare expenditure in developed as well as developing nations aimed at the commercialization of regenerative medicine will aid the growth of the global market in the coming years.
Asia Pacific to Register Comparatively High CAGR
The regenerative medicine market in North America was valued at US$ 9128.2 Mn in 2018. Fortune Business Insights has predicted that North America will dominate the global market during the forecast period. An increasing number of companies involved in the development of novel therapies using regenerative medicine will increase their demand in the coming years. Increasing clinical trials for the development of regenerative medicine will aid the growth of the regenerative medicine market in Asia Pacific. In 2013, the Japan Ministry of Health, Labor and Welfare passed the Regenerative Medicine Law. Furthermore, the increasing number of drug approvals in China has created a huge potential for growth of the regenerative medicine market in Asia Pacific. Additionally, increasing geriatric population and improved lifestyle habits will favor the growth of the regenerative medicine market in the Asia Pacific.
Fortune Business Insights has profiled some of the renowned companies that have adopted attractive business strategies in the global regenerative medicine market. The report gauges the impact of these companies on the global market. Some of the leading companies that are operating in the global market are Integra LifeSciences Corporation, CELGENE CORPORATION, Medtronic, American CryoStem Corporation, Tissue Regenix, Avita Medical, Osiris Therapeutics, Inc., Wright Medical Group N.V., Smith & Nephew, and Integra LifeSciences Corporation.
Browse Complete Report Details: https://www.fortunebusinessinsights.com/industry-reports/regenerative-medicine-market-100970
The global regenerative medicine market is segmented based on:
· Cell Therapy
· Gene Therapy
· Tissue Engineering
· Platelet Rich Plasma
· Wound Care
By Distribution Channel
· North America (USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)