The global regenerative medicine market size is expected to reach USD 5.59 billion by 2025, according to this new report. Increased prevalence of neurodegenerative, orthopedic, and other aging-related disorders in geriatric population coupled with rising global geriatric population is anticipated to drive market growth.
Developments in biotechnology have enabled gaining in-depth knowledge pertaining to cell division and differentiation as well as the metabolism mechanism of various cells. This enriched knowledge, coupled with emergence of novel streams of biotechnology such as gene therapy and nanotechnology, further prospered use of cell-based technology in therapeutic treatment.
Identification of ability of stem cells to develop into various different cell lines further propelled the advancements in regenerative medicine. Frequent media exposure due to regulatory as well as ethical controversies around embryonic stem cells has increased awareness among the masses. This encouraged researchers to explore and develop other potential fields for similar applications, such as induced pluripotent stem cells (iPSC).
Furthermore, the emergence of gene therapy techniques with potential to rectify and restore effects of gene mutations in cells is under development. Conditions caused due to Single Nucleotide Polymorphism (SNP) as well as mutations that induce degenerative characteristics are primarily targeted.