July 17, 2020
According to the research report titled ‘Global Regenerative Medicine Market Analysis, 2020’, available with Market Study Report LLC, global regenerative medicine market is expected to grow with a CAGR of 21.5% over 2020-2025.
The growing prevalence of diabetes, Alzheimer’s, and other chronic diseases in geriatric population has boosted the revenue scope for global regenerative medicine market.
Pharmaceutical sector has expanded substantially in the last few years as many companies indulged in research and studies for regenerative medicine in 2019. The developments are driving the growth of regenerative medicine and are expected to witness proliferating product demand through 2025.
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Based on type, the market is segmented into small molecule and biologics, cell-based immunotherapy & cell therapy products, and tissue engineered products. With respect to application, the industry is divided into dermatology, diabetes, oncology, wound care, musculoskeletal disorders, ophthalmology, and bone graft substitute.
Musculoskeletal disorders application segment held the largest market share in 2019 owing to the high pervasiveness of arthritis and orthopedic diseases among the aging population as well as young population. Diseases like diabetes are common in Asian subcontinent, hence, leading to the segmental growth.
In terms of regional overview, the market is segmented into North America, MEA, South America, Europe, and APAC.
The key players operating in this business space are Wright Medical, Vericel, Novartis AG, Abbott, Astra Zenca Ltd., Mimedx Group, Athersys, Inc, Acelity Holdings, Inc, Pfizer, Astellas Pharma Inc., Organogenesis Inc., Spark Therapeutics, Stryker, and Osiris Therapeutics and others.