According to the latest regenerative medicine trends, the industry is anticipated to witness substantial growth within the next few years, owing to the rising demand for customized drugs and medicines. Furthermore, the rising incidence of various chronic diseases, including cancer as well as various genetic disorders is also triggering high demand within the regenerative medicine market.
The increasing prevalence of cancer, ulcers, genetic disorders like cystic fibrosis, and cardiovascular disorders is putting a strain on the healthcare industry. The rising instances of these diseases are also creating opportunities for exploration and expansion in the regenerative medicine market. On the other hand, the high cost of these highly advanced and new age medical procedures may restrain the growth in the regenerative medicine market in the near future.
Based on the regenerative medicine outlook, the products and solutions in the industry can be segmented according to their application, into segments such as osteoarticular diseases, autogenic bones, bone graft substitutes, and allogeneic bones, among others. Furthermore, the products and solutions offered by the manufacturers in the regenerative medicine market can also be bifurcated based on the type of technology, into segments such as stem cells, biomaterials, and tissue engineering.
Amongst these, the maximum potential for growth and development in the near future can be attributed to the stem cell technological segment. The stem cell technology solutions in the regenerative medicine market find applications for various indications, such as diabetes, rheumatoid arthritis, autism spectrum, retinal diseases, Alzheimer’s disease, and cerebral palsy, among others.
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North America to Dominate the Landscape of the Regenerative Medicine Market
Geographically, the regenerative medicine market can be divided into distinct regions, namely, Europe, Asia Pacific, Middle East and Africa, Latin America, and North America. Amongst these, the largest regenerative medicine market size can be attributed to the North America region. Some of the most prominent drivers influencing this topmost positioning of the North America regenerative medicine market include the rising instances of next generation and ground breaking research and development activities by the stakeholders in the regional healthcare industry, as well as the increasing investments made by the government of the leading regional economy, I.e., the United States, for the same.
Additionally, the rising amount of funding by private regional players to advance the research in healthcare and medicine sectors is also positively affecting the development of the North America regenerative medicine market. Another lucrative regional industry for the regenerative medicine market in the coming years is expected to be Asia Pacific. The growth within the Asia Pacific regenerative medicine market is driven by the constant efforts by the regional private as well as public sector players for enhancing the healthcare infrastructure, rising number of patients, increasing in the level of awareness amongst the regional population regarding regenerative medicines, and the rising spending capacity amongst the regional population.
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Players in Regenerative Medicine Market Engaged in M & A and New Product Launches
The regenerative medicine market analysis predicts that the landscape of the industry is highly fragmented in nature, owing to the presence of a massive number of leading local as well as multi-national participants in the industry. The major and foremost players working in the regenerative medicine market are focused on adopting various corporate growth and expansion strategies, including launching new and innovative products, mergers and acquisitions, strategic collaborations and agreements, and gaining regulatory approvals for their products.
For instance, Wright Medical was acquired by the Stryker Corporation in February of 2020, in a bid to enhance and expand their product inventory. Furthermore, a new closed cell therapy processing system aimed at manufacture of cost-effective and scalable cell therapy, ‘Gibco CTS Rotea Counterflow System’, was launched by the Thermo Fisher Scientific, Inc., in October of 2020.
A few of the most competent and leading manufacturers and participants working in the regenerative medicine market are Anika Therapeutics, Inc., Baxter International, Inc., Medtronic, Inc., Zimmer Holdings, Inc., Smith & Nephew PLC, DePuy Synthes, Inc., Stryker Corporation, Arthrex, Inc., and CONMED Corporation, among others.