Regenerative medicine is a branch of translational research in tissue engineering and molecular biology which deals withthe repair, replacement, and regeneration of tissues and organs affected due to injury, disease, or natural ageing process.These medicines are capable of restoring the functionality of cells & tissues and encompass a wide range of degenerative disorders such as dermatology, cardiovascular, and neurodegenerative diseases.
Some of the biomedical approaches within the field of regenerative medicineinvolve the use of stem cells owing to their ability to proliferate and differentiate. The regenerative medicine market shows immense potential for growth, finding solutions to some of the most challenging medical problems faced by humankind.
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A rapidly rising prevalence of chronic diseases and trauma emergencies, boost in government funding for R&D, and an increased focus of vendors to develop cell therapy productsare the key factors propelling the growth of the regenerative medicines market.Regenerative productsare also surging due to an increasing awareness among people coupled with the technological advancements in stem cell therapy and tissue engineering. Moreover, the utilization of nanomaterials in wound care, immunomodulation, and drug delivery has further opened growth avenues for the market.
Conversely, stringent regulatory barriers, ethical issues related to regenerative medicines, and the high cost of the treatment are likely to hinder the market growth.
The global regenerative medicines market is fragmented on the basis oftype, technology, and applications.
Stem Cell Therapy
Central Nervous System Diseases
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The North American market is by far the largest in the regenerative medicines industry and is expected to continue its dominance across the globe due to increasing end-use applications in the region.The European Market, segmented into the United Kingdom, Germany, France, Italy, Spain, and rest of Europe, is the second leading market for regenerative medicine. The Asia Pacific regional market is also expected to witness a significant growth in the near future, mainly due to technological advancements, favourable reimbursement policies, and increased government funding.
Some of the prominent companies dominating the global regenerative medicines market include Organogenesis Inc. (U.S.), Osiris Therapeutics, Inc. (U.S.), Vericel Corporation (U.S.), Stryker Corporation (U.S.), and NuVasive, Inc. (U.S.), Acelity (KCI Concepts) (U.S.), Integra LifeSciences (U.S.), Cook Biotech Inc. (U.S.), and C.R. Bard (U.S.), and Medtronic (Ireland).
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