You are here
Regenerative Medicine Market is projected for Promising Growth Prospects Over 2017 to 2023
Regenerative medicines are used to repair, replace, and regenerate tissues and organs affected by injury, disease, or the natural ageing process.
Regenerative medicines are used to repair, replace, and regenerate tissues and organs affected by injury, disease, or natural aging process. These medicines restore the functionality of cells & tissues and are used in several degenerative disorders such as dermatology, neurodegenerative diseases, cardiovascular, and orthopedic applications. Stem cells are capable of proliferation and differentiation, which increase their importance in this field. The global regenerative medicine market was valued at $5,444 million in 2016, and is estimated to reach $39,325 million by 2023, registering a CAGR of 32.2% from 2017 to 2023.
The major factors boosting the market growth include technological advancements in tissue and organ regeneration, increasing prevalence of chronic diseases and trauma emergencies, prominent potential of nanotechnology, and emergence of stem cell technology. Moreover, utilization of nanomaterials in wound care, drug delivery, and immunomodulation has opened growth avenues for the regenerative medicine market.
However, stringent regulations, operational inefficiency, and high cost of regenerative medicine treatment are the key factors affecting the market growth. Furthermore, advancements in stem cell technology and achieving core competency in the emerging economies are expected to fuel the market growth. Developed nations have adopted technological advancements in tissue engineering and regenerative medicine sectors, which would aid the expansion of the global market.
Get Access to TOC / Sample Report @ https://www.alliedmarketresearch.com/request-sample/391
The cell therapy segment accounted for a significant share of about three-fifth the overall regenerative medicine market in 2016 due to the widespread adoption of cell therapy for treatment of several diseases such as musculoskeletal, cardiovascular, oncology, wound healing, and others. Small molecules and biologics has emerged as the fastest growing segment during the forecast period as these biologics are classic active substances delivering better overall economic return. These molecules have revolutionized the treatment of specific diseases such as musculoskeletal diseases, cancer, rheumatoid arthritis, and non-healing wounds.
Musculoskeletal and wound healing segment accounted for about three-fifth share of the application market in 2016. Cell therapies are used in the treatment of musculoskeletal diseases such as bone tissue replacement, cartilage, tendon, and ligament repair and replacement. In addition, osteoporosis is one of the most prevalent diseases that require tissue engineering therapies. More than 75 million people suffer from osteoporosis in Europe, the U.S., and Japan every year, which boosts the demand for regenerative medicines.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
Toll Free (USA/Canada):
Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.