Regenerative Medicine Market Overview, Segment Analysis, Growth Drivers and Forecast to 2024 – Downey Magazine

The global regenerative medicine market is expected to witness significant growth during the forecast period (20172023), due to the increase in the prevalence of chronic diseases, orthopaedic injuries, genetic disorders, growing aging population, increasing government funding along with the private funding in the research & development of regenerative medicines with the advancement in nanotechnology based drug delivery system, and moderate healthcare reforms. Currently, major breakthrough in the area is the development of tissue engineered trachea, transplantation of retinal pigment differentiated by stem cell based therapy to treat age-related macular degeneration. However, recently research labs have started to focus on regenerating solid organs such as heart, kidney, lungs and other organs to curb the problems associated with organ transplantation.

Orthopaedic and musculoskeletal disorders, dermatology, cardiology, oncology, diabetes, and central nervous system diseases are the key application areas of regenerative medicine. Orthopaedic and musculoskeletal disorders was the largest application in the global market in 2016, due to the high incidence of accidents and injuries registered, and its application as therapeutic approach to congenital disorders. Oncology is expected to be fastest growing application in the global market, due to the rise in prevalence of cancer cases globally.

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Technological innovations in the area of stem cell therapy and tissue engineering has led to rapid growth of the regenerative medicine market size. The key factors which drive the growth of the global market include increase in the demand of orthopaedic surgeries, government healthcare reforms in certain countries such as the U.S. and Canada, aging population, rise in chronic diseases, increasing prevalence of bone and joint diseases, and innovations in nanotechnology that aids in drug delivery mechanism.

Globally, North America is the largest market for regenerative medicine followed by Europe. The largest regenerative medicine market size of North America is attributed to the high rate of incidence of cardiac disorders, autoimmune diseases, and increasing prevalence of cancer patients among the American population. Additionally, the involvement of government organization for funding in the area of R&D of regenerative medicines, technological advancement and other policies are driving the growth of the North American market.

MARKET SEGMENTATION

By Type

By Therapy

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By Application

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Regenerative Medicine Market Overview, Segment Analysis, Growth Drivers and Forecast to 2024 - Downey Magazine