July 14, 2020
According to the research report titled ‘Global Regenerative Medicine Market: Analysis By Type, By Application, By Region, By Country (2019 Edition): Opportunities and Forecast (2014-2024)’, available with Market Study Report LLC, global regenerative medicine market generated revenues worth USD 22814.45 million in 2018 and is expected to register consistent growth during 2019-2024.
Increased pervasiveness of chronic disorders coupled with rising number of medical research facilities are key factors driving the growth of global regenerative medicine market. Surging investments by pharmaceutical companies and favorable government initiatives are also fueling the market size.
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Expanding product pipeline and numerous collaborations & partnerships among leading players are also stimulating the industry outlook. However, high costs associated with the production and use of regenerative therapy may act as restraining factors to the overall market expansion.
As per type, regenerative medicine market is divided into tissue engineered, gene therapy and cell therapy. Based on application spectrum, the industry is bifurcated into immunology & oncology, metabolism & inflammation, wound healing, cardiology, and orthopedic & dental among others.
Highlighting the geographical landscape, global regenerative medicine market is split into Asia-Pacific, Europe, North America and Rest of the World, while focusing on countries such as Brazil, India, Japan, China, Italy, France, U.K., Germany, Canada and the U.S.
The prominent companies operating in global regenerative medicine industry are Shanghai Sunway Biotech Co. Ltd., Amgen Inc., Sanofi S.A., Celgene Corporation, MolMed S.p.A., Orchard Therapeutics PLC, Spark Therapeutics Inc., Novartis International AG, Gilead Sciences Inc., Vericel Corporation among others.