Regenerative medicine is a category of research in tissue engineering and molecular biology which deals with the method for human cells, tissues and organs reconstruction to reactivate normal body function. The regenerative medicine repairs the defective cells and tissues. Regenerative medicine treats the basic cause of disease, injuries and genetic conditions. Regenerative medicine gives complete treatment of the abnormality or disease as compared to the symptomatic treatments. Regenerative medicine is a treatment technique which works in three approaches which ensure the complete eradication of the injury of the cell, tissue or organ. There are stem cells and non-stem cell (somatic) therapies which includes taking cells from healthy body organ in the body and applying these cells to the damaged area after expanding these cells in cell culture. The regenerative medicine triggers the body’s own repair mechanism to patch-up the unrepairable human tissue or organs. Regenerative medicine also consists of injecting the cord blood stem cells intravenously which treats brain injuries. Regenerative medicine gives doctors an option to use the therapy for complete eradication of the disease.
Regenerative Medicine Market: Drivers & Restraints
The regenerative medicine market is a fast growing market due to a paradigm shift in healthcare. The human stem cell science is changing rapidly & there is a requirement for manufacturing to be flexible according to change in technology. The more active, workable healthcare system is expected through regenerative medicine. There is a nonstop demand for few number of organs due to end stage organ failure which can be cured through regenerative medicine. Regenerative medicine market would be on the top spot of the healthcare market due to high demand and limited supply in upcoming years. The stem cell application and the improvement in nanotechnology is also favouring the growth of regenerative medicine market. Thousands of patients are being treated by stem cell transplant and the number can be doubled in upcoming years due to inclusion of regenerative medicine. Regenerative medicine market is tend to grow with increase in geriatric population with chronic diseases. The regulatory demands for regenerative medicine market is greater than other pharmaceutical products which is challenging for key players.
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Regenerative Medicine Market: Segmentation
Regenerative medicine market is classified on the basis of technology, application and geography.
Based on technology, the regenerative medicine market is segmented into the following:
- Tissue Engineering
- Biologically Active Materials
- Stem Cell Therapy Or Cellular Therapeutics
Based on application, the regenerative medicine market is segmented into the following:
- Wound Healing
- Neurodegenerative Disease
- Musculoskeletal Regeneration
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Based on geographically, the regenerative medicine market is segmented into following:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Western Europe (Germany, Italy, U.K, Spain, France, Rest of Western Europe)
- Eastern Europe (Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC, S. Africa)
Regenerative Medicine Market: Overview
Regenerative medicine market is expected to expand at healthy CAGR during the forecast period due to high demand for regenerative medicine in chronic disease cases. The rapid advancement in technology, usages in multiple applications and increasing cases of chronic disease are some of the key factors to drive the growth of regenerative medicines market globally. Developing countries will be growing with a higher CAGR compared to other parts of the world because of the technological improvement, flexible regulations and increasing awareness.
Regenerative Medicine Market: Region-wise Outlook
Depending on geographic region, regenerative medicine market is segmented into seven key regions: North America, Latin America, Eastern Europe, Western Europe, Japan, Asia Pacific and Middle East & Africa. North America will contribute the maximum in regenerative medicine market share. Eastern and Western Europe will show a good growth as the need for transplants through regenerative medicine will be increasing for wide range of applications such as cardiology, orthopedics, diabetes neurodegenerative disease. Japan having a well establish economy, CAGR of regenerative medicine market is expected to be higher compare to other developed countries. Asia Pacific is growing with a significant CAGR for regenerative medicine market due to increase in healthcare expenditure and investment in research. Amongst the Asian countries, China and South Korea will be the more promising because of having a good base of research.
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Regenerative Medicine Market: Key Players
Some of the key participating global players in regenerative medicine market are OncoMed Pharmaceuticals, BrainCells, Five Prime Therapeutics, Pieris AG, Tyrx Pharma, Aldagen, Histogenics, Fate Therapeutics, iZumi Bio, Neurologix, Inc., Cellerant Therapeutics, Inc., Stem Cell Sciences plc., Cellerant Therapeutics, Inc., Embryome Sciences, Inc., Chromos Molecular Systems, Aastrom Biosciences, BioRestorative, Dendreon, Histogenics, Nanotope, Cell Medica, RTI Surgical, Neuralstem, Fate Therapeutics and others.