According to MRFR, the Global regenerative medicine market 2020 is touted to mature at the CAGR of about 25.4% over the review period (from 2016 to 2022).
The global regenerative medicine industry is rapidly on the rise. Factors impacting the regenerative medicine industry are growing development in healthcare technologies, growing the prevalence of chronic disorders and growing advances in stem cell science are driving market expansion.
The demand for biologically derived materials for regenerative medicine is currently high due to its efficiency over other naturally derived materials. During the surgical procedures, synthetic materials are more preferred as they provide better outcome. Increase in demand for material reengineering and cell biology with the recent progress in the design of synthetic materials have led to the use of hydrogel in the formation of tissue-engineered scaffolds.
In turn, the rising prevalence of degenerative diseases and a lack of transplantation organs are projected to fuel business demand. Market development has been fuelled by the influential ability of regenerative medicine to remove, restore, and rebuild weakened tissues and organs. In addition, the use of nanomaterials in wound treatment, medication delivery, and immunomodulation has sparked development opportunities for the demand for regenerative medicines. Strict regulatory barriers and high healthcare costs are nevertheless likely to impede business expansion.
few of the leading players in the global regenerative medicine at the vanguard of the competition and are profiled in MRFR Research are Cook Biotech Inc. (U.S.), Organogenesis Inc. (U.S.), Vericel Corporation (U.S.), Stryker Corporation (U.S.), NuVasive, Inc. (U.S.), Medtronic (Ireland), C.R. Bard (U.S.), RTI surgical (U.S.), Baxter International, Inc. (U.S.), Advanced Cell Technology (U.S.), CryoLife (U.S.), Sanofi (France), BioMimetic Therapeutics (U.S.), StemCells Inc. (U.S.), Acelity (KCI Concepts) (U.S.), Osiris Therapeutics, Inc. (U.S.), Integra LifeSciences (U.S.), LifeCell Kinetic Concepts (U.S.) and others are
The biggest market for regenerative medicine is North America worldwide. North America holds more than 44% of the global regenerative medicine industry and is predicted to expand by 22.3% at a CAGR. Due to the presence of major companies North America is projected to have the highest share of revenue and fast technical advancements along with heavy spending in stem cell science & oncology.