Expanding the Utilization of Nanomaterials to Drive Global Regenerative Medicine Market
The global regenerative medicines market is anticipated to gain traction owing to increasing advancement in healthcare technology, coupled with an increasing prevalence of chronic diseases. Additionally, the market is estimated to expand steadily, owing to the rising acceptance of stem cell-based technologies and demand for the biology-derived materials for regenerative medicine. Further, the regenerative medicines are addressed to the biomedical approaches to clinical therapies involving cell therapies, immunomodulation therapy, and tissue engineering. These therapies and technologies show a better outcome, and thus, its demand for the surgical procedures and adoption of synthetic materials is increasing. This increased demand is driving growth of the global regenerative medicine market.
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The penetration of reengineering medicines and advancement in cell biology and its design of synthetic materials that augment the usage of hydrogel during the formation of tissue-engineered systems is estimated to drive the market growth. The surge in the organ transplantation with the use of regenerating human cells, organs, and tissues has propelled the growth of the global regenerative medicine market. In addition to this, the utilization of nanomaterials across the field of drug delivery, immunomodulation, and wound care are augmenting demand for regenerative medicines. This scenario is estimated to be the same for the next few years and is likely to drive the market growth in these years. However, the high costs of the medicines and therapies, along with the stringent regulatory frameworks, are hampering growth of the global regenerative medicine market.
Some of the prominent players in the global regenerative medicine market include Organogenesis Inc., Vericel Corporation, Osiris Therapeutics, Inc., Stryker Corporation, Medtronic, NuVasive, Inc., Acelity, Integra LifeSciences, C.R. Bard, Cook Biotech Inc., RTI Surgical, Advanced Cell Technology, Baxter International, Inc., Sanofi, CryoLife, BioMimetic Therapeutics, LifeCell Kinetic Concepts, and StemCells Inc.
The regenerative medicine market is segmented by material, therapy, application, and region.
On the basis of type, the regenerative medicine market report is segmented into synthetic materials, pharmaceuticals, and genetically engineered materials.
On the basis of therapy, the market report is segmented into stem cell biology, tissue engineering, and cellular therapy.
On the basis of application, the regenerative medicine market is segmented into cord blood, urology, oncology, orthopedics, dermatology, and neurology.
Regionally, the regenerative medicine market is segmented intotheAmericas, Europe, Asia Pacific, and the Middle East and Africa. Of these, North America is estimated to remain dominant in the global regenerative medicine market in the coming period owing to the strong presence of key players coupled with rapid ongoing technological advancements in stem cells and oncology. Additionally, strongest presence of organizations including Alliance for Regenerative Medicine, National Cancer Institute, National Institutes of Health, National Stem Cell Foundation, and International Society for Stem Cell Research. Furthermore, growing investment in the research and development by the private and public sector is benefiting the market growth.
Europe is estimated to be the second-largest market for regenerative medicine over the forecast period owing to robust development in terms of medicines and investment in the R&D. However, the market in the Asia Pacific is anticipated to witness the fastest growth owing to investment in healthcare especially in the emerging countries. Additionally, the advances in the stem cell, coupled with widening acceptance toward regenerative medicine in the region is benefiting its sales.
In October 2019, R3 Stem Cell announced the launch of a new Master Class on the stems and regenerative procedures. This class will offer vigorous information on discovering process works and gain realistic expectations.
In October 2019, Medicine by Design is investing as much as USD 20 million in research through strengthening the University of Toronto that will accelerate stem cell and gene therapy. This investment is aimed to advance understanding of how the body repairs and generate new technologies.
In September 2019, the Houston Healthspan Innovation Group announced the development and commercialization of new therapies and technologies to expand in the field of regenerative medicines.
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