According to the latest report by IMARC Group, titled "Regenerative Medicine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global regenerative medicine market reached a value of US$ 11.94 Billion in 2020. Regenerative medicine is a branch of biomedical sciences that seeks to restore the functioning of organs or tissues damaged by trauma, congenital issues and diseases. It utilizes laboratory-developed stem cells that are implanted into the body for the regeneration of normal cells. This replacement stimulates the repair mechanism of the body to heal organs, bones, and blood vessels. Cellular and acellular regenerative medicines are applied in various therapies, such as cell, gene, immunomodulation, production of artificial organs, and tissue engineering. These medicines are an effective treatment for several chronic ailments, such as spinal cord injuries, osteoporosis, Parkinson’s, and Alzheimer's disease. Regenerative medicine plays an important role in organ transplants and is widely applied across the fields of cardiology, oncology, and dermatology.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Regenerative Medicine Market Trends:
The increasing prevalence of genetic disorders and chronic diseases is one of the key factors driving the market growth. Stem cells are widely utilized for the treatment of various conditions as they possess regenerative properties. Additionally, the rising geriatric population that is susceptible to developing chronic disorders is acting as another major growth-inducing factor. In line with this, the increasing number of organ transplant procedures is creating a positive outlook for the market as regenerative medicines help reduce the risk of organ rejection. Moreover, extensive research and development (R&D) activities and various technological advancements, such as the adoption of artificial intelligence (AI) and 3D bioprinting techniques in cell-based therapies, are propelling the market growth. Other growth-inducing factors include an increasing number of clinical trials, along with rising government investments in the field of medical research. Looking forward, IMARC Group expects the global regenerative medicine market to growing at a CAGR of 22.70% during 2021-2026.
- On the basis of the type, the market has been divided into stem cell therapy, biomaterial, tissue engineering and others.
- Based on the application, the market has been classified into bone graft substitutes, osteoarticular diseases, dermatology, cardiovascular, central nervous system and others.
- On the basis of the end user, the market has been categorized into hospitals, specialty clinics and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players Allergan plc (AbbVie Inc.), Amgen Inc., Baxter International, Inc., BD (Becton, Dickinson and Company), Integra LifeSciences Holdings Corporation, Medtronic plc, MiMedx Group, Inc., Novartis AG, Osiris Therapeutics, Inc. (Smith & Nephew plc), and Thermo Fisher Scientific Inc.
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