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SOURCE: Global Industry Analysts, Inc.
GIA announces the release of a comprehensive global report on Regenerative Medicine markets. Global market for Regenerative Medicine is projected to exceed US$4.4 billion by 2018, driven by technological advances and favorable demographics. Potentially huge savings on the medical care front and enhanced healing capabilities of regenerative medicine are expected to be the major contributing factors for market growth. Supportive political actions, Government funding, corporate investment, clinical outcomes, increased awareness, increased endorsement from doctors, enhanced manufacturing technologies, and novel sources of stem cells are also expected to impart momentum to the growth of Regenerative Medicine.
San Jose, California (PRWEB) November 16, 2012
Follow us on LinkedIn – Regenerative medicine is touted as the next-generation technology to revolutionize the medical care system of the future. The adoption of regenerative medicine is expected to witness a giant leap in the coming years with the introduction of cutting edge therapies and other products which are under development. Regenerative medicine is an emerging multidisciplinary field involving research as well as clinical applications intended to repair, replace, and regenerate cells, tissues as well as organs for restoring or establishing normal function. Regeneration technologies promise innovative solutions for a number of medical conditions resulting from age, damage, congenital defects or diseases. The basic idea behind regenerative medicine is to cure human ailments by replacing failed body organs and damaged tissues with laboratory-grown cells and organs, akin to replacement of damaged automobile components with brand new spare parts, or promote natural healing properties of the body to repair damaged tissues. Regenerative medicine employs small molecule drugs, medical devices, cell-based therapies and biologics. In a broader sense, the term includes advanced cell-based therapies, tissue engineering, stem cell as well as developmental biology, cellular therapeutics, biomaterials and gene therapy.
Though the current market for regenerative medicine is small in size, the market for tissue engineering holds the potential to reach enormous levels in the coming decade. Growth in the regenerative medicine market is forecast to be propelled by new products to be introduced in the segments of orthopedics, neurology, organ regeneration, wound care, cardiovascular, and urology. With the strengthening of existing markets, the regenerative medicine market is also expected to witness penetration in other markets including Japan, Europe and other emerging countries.
Regenerative Medicine market is presently witnessing the introduction of a limited number of regenerative therapies targeting mainly orthopedics (including bone and joint applications), wound care, and body sculpture. There are a number of therapies in the development pipeline addressing potential areas such as Cardiovascular, Nerve repair, Diabetes and Inflammatory diseases among others. In addition, the future is also expected to witness the introduction of laboratory grown tissue engineered organs and tissues. However, the development of fully functional organs is expected to be very complex and the prediction of the success of this attempt is impossible at present. As an alternative to this approach, attempts to develop the organ in parts are also going on which is relatively less complicated and offer higher success rates.
Orthopedics segment which includes spine, bone grafts and bone substitutes is the largest among the different fields of global regenerative medicine market. Advancements in the biological science has drastically revolutionized regenerative medicine domain. Specifically, regenerative medicine in bone and joint applications made huge strides over the past few years. Healthy growth in the bone and joint applications is primarily due to the ageing baby boomer population and escalating incidence of osteoporosis, arthritis, and several other bone and joint traumas, including knee injuries and hip fractures. Growing awareness among people for regenerative medicines and increasing usage of non-autograft products by doctors and medical personnel are also stimulating growth for these products.
As stated by the new market research report on Regenerative Medicine, the US represents the largest market worldwide. Though the US is expected to retain its leading position, growth in other markets such as Japan is forecast to be higher than that of the US. The higher growth expected in the other markets is attributed to the level of Government as well as public support for the Regenerative Medicine sector. Though the US spends a substantial amount in the area of research, other Governments are also increasing their support for the sector. Bone Replacements represents the largest application for Regenerative Medicine in Bone and Joint Applications, while Tissue Replacements represents the application with highest potential for growth.
The global regenerative medicine market consists of companies engaged in harvesting, processing, purification, cryopreservation, storage, administration, or research activities of cells and tissue-based products. Major players in the global marketplace include BioVest International Inc., Curis Inc., Cytori Therapeutics Inc., Evotec AG, Forticell Bioscience Inc., Geron Corporation, Integra LifeSciences Corporation, LifeCell Corporation, Osiris Therapeutics Inc., Tengion Inc., Tepha Inc., and TiGenix N.V.
The research report titled "Regenerative Medicine: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, issues, drivers, regulatory scenario, company profiles, mergers, acquisitions, and other strategic industry activities. The report provides market estimates and projections for Regenerative Medicine Products for Bone and Joint Applications (in US$) by Bone Replacements, Bone Stimulators, and Tissue Replacements applications. Geographic markets analyzed include the United States, Europe and Rest of World.
For more details about this comprehensive market research report, please visit –
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
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