ALBANY, New York, September 16, 2016 /PRNewswire/ --
According to a report by Transparency Market Research (TMR), the global market for regenerative medicines held an opportunity of US$2.6 bn in 2012. Expanding at a CAGR of 12.80% during the period from 2013 to 2019, it is likely to reach US$6.4 bn by the end of 2019.
The emergence of regenerative medicines has revolutionized the medical and healthcare industry across the world. The distinctive ability of these medicines to repair, restore, and regenerate tissues and organs, damaged due to injuries, diseases, or as a result of the natural aging process has opened up a wide range of applications for them.
As these medicines hold the capability to restore the functionality of tissues and organs, their application in the treatment of musculoskeletal diseases, cardiovascular diseases, and orthopedic disorders has remarkably increased, which has led to a substantial rise in the opportunity for the global market.
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What are the key trends that are influencing the global market for regenerative medicines significantly?
The technological advancement in tissue engineering is one of the key trends that are influencing the global regenerative medicines market positively, specifically in the bone and joint segment. Another prominent trend having positive impact on this market is the growing prevalence of bone and joint disorders, which is leading to a remarkable surge in the demand for regenerative medicine across the world.
On the other hand, the implementation of stringent regulatory measures to avoid malpractices may negatively impact this market in the near future. The increasing reports of post-implant infections are also projected to hamper the adoption of regenerative medicines and limit the market's growth to some extent over the next few years.
How the market of regenerative medicines have been performing in various regions?
Regionally, the global market for regenerative medicines is spread across Europe, Asia Pacific, North America, and the Rest of the World. Among these, North America holds the leading share in this market. The escalating number of orthopedic reconstructive surgeries and the increasing introduction of technologically advanced medical products and devices have been boosting the adoption of regenerative medicines in this region.
Europe, which emerged second in 2012, has been continuing in this position since then. The presence of a large base of the geriatric population has been driving the demand for regenerative medicine in this region. However, after the emergence of Asia Pacific, which stood third in 2012, as the most promising market for regenerative medicines, Europe is expected to witness a considerable decline in its market share over the next few years. The large pool of potential reconstructive surgery patients is likely to drive the demand for regenerative medicines in Asia Pacific in the near future.
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What are the strategies leading producers of regenerative medicines prefer to adopt while looking for business expansion?
DePuy Synthes, Stryker Corp., Zimmer Holding, and Synthes Inc. are the leading producers of regenerative medicines across the world. These companies mostly rely upon product innovation to strengthen their product portfolios. Recently, DePuy Synthes attained the pre-market approval from the U.S. FDA for Ceramax, a ceramic-on-ceramic hip system. According to the developer, Ceramax is a new generation nano-composite material with is a unique combination of Biolox Delta ceramic head and Pinnacle's modular bearing system. With this launch, DePuy Synthes expects a significant expansion in its customer base.
Other prominent players in this market are Smith & Nephew Plc., CONMED Corp., Arthrex Inc., and Anika Therapeutics Inc.
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Global regenerative medicine market has been segmented as:
Regenerative Medicine (Bone and Joint) Market, by Technology
- Stem Cell Therapy
- Tissue Engineering
Regenerative Medicine (Bone and Joint) Market, by Application
- Bone Graft Substitutes
- Osteoarticular Diseases
- Allogeneic Bones
- Autogenic Bones
Regenerative Medicine (Bone and Joint) Market, by Geography
- North America
- Rest of the World
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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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