Regenerative medicine promises to transform the way we see a number of chronic diseases, particularly cancer, and a number of research and development activities are currently underway to harness the possibilities with tissue engineering and molecular biology.
Regenerative medicine promises to transform the way we see a number of chronic diseases, particularly cancer, and a number of research and development activities are currently underway to harness the possibilities with tissue engineering and molecular biology. In addition to the flooding of investment, a number of governments across the world are offering support to spur the innovation. Healthcare organizations such as FDA are offering policies to facilitate the development of future of medicine and guidelines are being changed. Consequently, the demand in the global regenerative medicine market is flourishing, according to a recent business and commerce study by TMR Research. The report is directed towards enabling more informed business decisions for audiences such as healthcare providers and clinical experts, therapeutic companies, and contract manufacturers.
The study has projected that the demand in the global regenerative medicine market will increment at a notable CAGR during the forecast period of 2017 to 2025, gaining traction from a number of factors such as government and private funding as an aid to support the harnessing of regenerative medicine, increasing healthcare expenditure across the urban parts of the world, growing prevalence of chronic diseases as well as genetic disorders, escalation in geriatric population, and increase in corporate partnerships, which in turn is accelerating the commercialization of regenerative medicines. On the other hand, lack of standard regulatory guidelines and ethical concerns pertaining to the usage of embryonic stem cell for research and development are a couple of factors obstructing the market from flourishing. Nevertheless, the stockholders connected to the value chain of the global regenerative medicine market are expected to find new revenue avenues if they concentrate on growing demand for organ transplantation and upcoming product pipeline.
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The Food and Drug Administration has issued two policies on regenerative practices. While the first relates to autologous usage of tissues of cells and is intended towards transplantation, implantation, transfer, or infusion of human tissues, the second is for the manufacturers and healthcare providers to ensure minimal manipulation and homologous use of human cells and tissues.
Based on product type, the regenerative medicine market can be segmented into acellular products and cell-based products, whereas on the basis of therapy, the market can be bifurcated into gene therapy, cell therapy, immunotherapy, and tissue engineering. Application-wise, the regenerative medicine market can be classified into the fields of cardiology, diabetes, dermatology, orthopedic and musculoskeletal disorders, central nervous system diseases, and others such as autoimmune and dental or oral. The oncology segment is currently providing for the maximum demand, which is a reflection of growing prevalence of cancer across the globe as well as rich product pipeline.
Geographically, this report on the global regenerative medicine market gauges the potential of demand coming from every important region and country, such as China and India in Asia Pacific, the U.S. and Canada in North America, France, Germany, and the U.K. in Europe, and the Middle East and Africa. For each of these regions and countries, the report provides figures on how the demand has evolved in the recent past and how it is anticipated to multiply in the near future.
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Owing to the inflow of a large number of players, the competitive landscape of the global regenerative medicine market reflects a fragmented scenario, with the focus on research and development activities. Some of the key companies are Integra LifeSciences Corporation, Organogenesis Inc., MiMedx Group, Inc, AstraZeneca, Medtronic, Acelity (KCI Concepts), Osiris Therapeutics, Inc., F. Hoffmann-La Roche Ltd, Vericel Corporation, Stryker Corporation, Merck & Co., Inc., Pfizer Inc., Baxter and Nuvasive, Inc., Cook Biotech Inc., and C.R. Bard.
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