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BCC Research Predicts Regenerative Medicines Market for Bone and Joint Applications to Reach $3.9 Billion by 2018



7/25/2013 9:43:38 AM

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Wellesley, MA (PRWEB) July 25, 2013 -- In the new report, Regenerative Medicines: Bone and Joint Applications (Report Code: PHM032C), from BCC Research (http://www.bccresearch.com), the regenerative medicines market for bone and joint applications was valued at $2.72 billion in 2012 and is expected to reach $2.72 billion in 2013. The report forecasts total market value to reach $3.9 billion in 2018, after increasing at a five-year compound annual growth rate (CAGR) of 7.3%.

In this report, BCC Research has identified bone replacement and grafting as the largest market within these applications, accounting for nearly 90% of market share in some niches. The two other main markets within this area of regenerative medicines are the electrical and ultrasound bone growth stimulators market and the cell therapy and tissue-engineered cartilage market.

Regenerative medicine is an area of research and development that includes stem cell research and its applications. The uses include treating and curing diseases with limited and no treatment options. For example, the successful differentiation of embryonic stem cells into specific cell types is widely sought as a means to treat traumatic spinal-cord injury, as well as diseases such as diabetes, Duchenne muscular dystrophy, heart disease, and vision and hearing loss. This new report from BCC Research shows how regenerative therapies have the potential to improve medical outcomes, enhance quality of life, and reduce overall healthcare costs.

A key objective identified by BCC Research in this report is the utilization of living cells to repair or replace body tissue damaged by injury, disease or the aging process. The most successful products have drawn upon multidisciplinary fields such as biology, medicine, engineering, and biomedical engineering. Other regenerative applications such as dental, neurologic, organ regeneration, cardiovascular, urologic, and diabetes are also potential targets for therapeutic applications.

BCC Research has identified a number of drivers impacting the growth in the bone and joint applications of regenerative medicines. The main growth drivers include greater familiarity with regenerative medicine products, an expanding technology base, more clinical trials, increased academic research at top academic and government research institutions, and a growing patient base.

The report predicts that regenerative medicine will dramatically alter the U.S. healthcare industry. There are enormous potential benefits from regenerative medicine in terms of both improved healthcare and economic savings. One area where this will occur is in organ replacement. The costs associated with direct organ replacement total $350 billion or roughly 8% of global healthcare spending. A $350 billion global industry already built on the base of first-generation tissue and organ therapy products and substitutes, regenerative medicine has the technical potential to exceed $500 billion in the next 20 years.

The information and analysis presented in this report will prove crucial in decision making for managers involved in business development, marketing, market research, product development, mergers and acquisitions, licensing, business management, investment banking, and deal creation. The report is also advantageous for consultants involved in pharmaceutical and biotechnology industries.

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