Allied Market Research recently published a report, titled, "Regenerative Medicine Market by Product Type (Cell Therapy, Gene Therapy, Tissue Engineering, and Small Molecule & Biologic), Material (Synthetic Material, Biologically Derived Material, Genetically Engineered Material, and Pharmaceuticals), Application (Cardiovascular, Oncology, Dermatology, Musculoskeletal, Wound Healing, Ophthalmology, Neurology, and Others) and End user (Hospitals, Ambulatory Surgical Centers, and Others: Global Opportunity Analysis and Industry Forecast, 2021–2030." As per the report, the global regenerative medicine industry was accounted for $10.10 billion in 2020, and is expected to reach $83.19 billion by 2030, growing at a CAGR of 23.4% from 2021 to 2030.
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Drivers, restraints, and opportunities-
Increase in adoption of stem cell technology, emergence of application of nanotechnology, and rise in prevalence of chronic diseases and trauma emergencies drive the growth of the global regenerative medicine market. On the other hand, certain ethical hurdles and costly treatment associated with regenerative medicines impede the growth to some extent. However, increase in potential in the emerging economies is expected to create lucrative opportunities in the industry.
The synthetic materials segment held the highest share in 2020-
Based on material, the synthetic materials segment held the highest share in 2020, generating nearly one-third of the global regenerative medicine market. This is owing to rise in prevalence of dental disorders among individuals. The pharmaceuticals segment, however, would cite the fastest CAGR of 23.8% from 2021 to 2030.
North America held the major share-
Based on region, the market across North America accounted for the major share in 2020, contributing to nearly half of the global regenerative medicine market. Robust infrastructure provided for research activities and the huge presence of key players across North America boost the market growth. Asia-Pacific, simultaneously, is expected to cite the fastest CAGR of 25.5% throughout the forecast period. Increase in use of regenerative medicine products, surge in R & D activities for new product launch, and rise in investments in the healthcare sector propel the growth of the market.
The cell therapy segment held the lion's share-
Based on product type, the cell therapy segment held the major share in 2020, generating more than three-fifths of the global regenerative medicine market. This is due to increase in prevalence of cardiovascular surgeries across the world. The gene therapy segment, on the other hand, is projected to cite the fastest CAGR of 24.7% during the forecast period.
Prominent market players-
Zimmer Biomet Holdings, Inc.
Medtronic Plc.
U.S. Stem Cell, Inc. (Bioheart, Inc.)
Acelity Holdings, Inc.
Organogenesis, Inc. (Advanced Biohealing)
Stryker Corporation
Integra Lifesciences Holdings Corporation
Isto Biologics (Isto Biologics Medical Systems, Inc.)
CryoLife, Inc.
Athersys, Inc.
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