The Global Regenerative Medicine Market is projected to reach USD 38.7 billion by 2024 from USD 13.3 billion in 2019, at a CAGR of 23.8%.
Market growth is largely driven by the rising prevalence of chronic diseases and genetic disorders, growing government investments in regenerative medicine research, and the increasing number of regenerative medicine companies globally.
Growth in this market is largely driven by the introduction of Cures Act for regenerative medicine by FDA, increased funding for regenerative medicine research, development of CAR-T cell therapies and increasing demand for regenerative medicine for the treatment of cancer, orthopedic disorders, and chronic wounds among others.
Regenerative Medicine Market segmentation:
· based on the type
· based on application
· based on regions
The Major Players Operating in the Regenerative Medicine Market:
The major players in this market are Kite Pharma (US), Novartis (Switzerland), Vericel Corporation (US), Integra LifeSciences (US), Wright Medical (US), MiMedx (US), Osiris Therapeutics (US), Stryker Corporation (US), and Spark Therapeutics (US). Product launches and acquisitions are the key growth strategies followed by most players in this market.
Regenerative Medicine Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the total size of the regenerative medicine market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the industry and markets have been identified through extensive secondary research
- The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes
- All percentage share, splits, and breakdowns have been determined using secondary sources and verified through primary sources
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Geographical Detailed Analysis for Regenerative Medicine Market:
North America anticipated accounting for the largest share of the market in 2019.
The regenerative medicine market in North America is expected to account for the largest share globally and grow at a faster rate during the forecast period. Surging research activities in the field of regenerative medicine, the introduction of CAR-T cell therapies and growing awareness of personalized medicine have also resulted in the establishment of stem cell banking and tissue engineering.
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