Alzheimer’s, Parkinson’s, Multiple Sclerosis and many other degenerative diseases are on the rise in the United States, leading to a huge demand for effective ways to treat these illnesses—a niche that the healthcare industry presently lacks.
Addressing this gap is a challenge that vendors in The Global Regenerative Medicine market aim to bridge. If this goal is achieved, everyone involved in the market stands to profit enormously.
Just how much profit are we talking about? Well, it is estimated that by 2016, consumer investments in this field will reach US$ 2.4 billion and from thereon in, we have no doubt that this number will increase exponentially year-to-year. With such high monetary incentives offered in this field, medical technology companies are tripping over each other’s feet chasing patents for new regenerative treatment options.
Some of the key-player in this race include:
Baxter International Inc.
Medtronic Inc.
Stryker Corp.
Zimmer Holdings Inc.
All of these players have potentially game changing treatment options in late development stages, and though many of them are still awaiting final FDA approval, consumer demand is already peaking.
For instance, Zimmer Holdings Inc. introduced Zimmer Chondrofix Osteochondral Allograft for the repair of osteochondral lesions in February 2012. Even after little more than a year since its release, this regenerative medicine form is witnessing significant growth in sales.
Other pipeline projects include Stryker Corp’s attempt to use stem cell technology in cartilage regeneration, as well as a bone graft substitute developed by Baxter International Inc.
There’s no doubt that this market has a long way to go, and the time and effort spent developing new regenerative treatments will prove extremely costly for all developers and vendors involved. That said, we at TechNavio are confident that these investments will easily be overshadowed by the potential sweepstakes up for grabs in the Regenerative Medicine Market in the US.
For more information, view our 2012-2016 report on Regenerative Medicine Market in the US.
