This market research report presents a detailed segmentation of the global regenerative medicine market by product (cell therapy, tissue scaffold, and gene therapy), by application (dermatology, musculoskeletal, ocular, and cardiovascular), and by geography (the Americas, APAC, and EMEA). The leading vendors in the market are Acelity, Medtronic, MiMedx, Organogenesis, uniQure, and Zimmer.
The market research analysts at Technavio estimate the global regenerative medicine market to grow at a CAGR of over 20% between 2016 and 2020. The increased funding by various governments in regenerative medicine is the primary driver for the market. Factors such as the increased focus on cell therapy products and technological innovations are likely to contribute to the market’s growth during the forecast period. At present, the Americas dominate the global regenerative medicine market by accounting for more than 53% of the overall market share, with the US being the largest revenue-contributing region. Increased prevalence of cardiac diseases, autoimmunity, and cancer among the US population are some of the major factors that will contribute to the growth of the regenerative medicine market in this region by 2020.
The new market research report from Technavio presents a breakdown and analysis of the regenerative medicine segments by application.
“The latest trend in the market is the increase in strategic alliances and partnerships amongst vendors. The leading vendors in the market are resorting to mergers and acquisitions in an attempt to strengthen their global position and improve their sales. An increase in the number of regenerative medicines in the pipeline is yet another trend that is likely to reflect positively on the market during the forecast period,” Barath Palada, Lead Analyst, Healthcare & Lifesciences, Technavio Research.
In 2015, the dermatology sector dominated the regenerative medicine market globally by accounting for over 48% of the market share. This segment of the market is thriving currently as regenerative medicine finds application in reducing the after-effects of general treatments for burns, including scarring, infection, and poor adhesion. The increasing demand for demand for anti-aging solutions worldwide and the rise in the number of people with diabetic foot ulcers are some of the factors driving the growth of dermatology regenerative medicine market in the coming years.
The key vendors in the market include Acelity, Medtronic, MiMedx, Organogenesis, uniQure, and Zimmer. This market is highly competitive and fragmented with the presence of several providers and due to advances in R&D and technological innovations. There are many well-diverse international and local vendors that provide cost-effective products with limited features and functionalities. Vendors are forming strategic alliances with universities that are developing technologies through continuous research work. Competition in the market will intensify during the forecast period with an increase in product extensions, technological innovations, and M&A.
A more detailed analysis is available in the Technavio report, Global Regenerative Medicine Market 2016-2020.
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