Regenerative medicine market growing at a CAGR of 23.6 percent during 2016 to 2021

The global Regenerative medicine market is expected to reach US$ 38.70 billion by 2021 from US$ 13.41 billion in 2016 at a CAGR of 23.6 percent from 2016 to 2021 while the cell therapy procedure is expected to account for the largest share of the market.

The major factor driving the growth of regenerative medicine market, are government and private funding to support the development of regenerative medicine, rising prevalence of chronic diseases and genetic disorders, increase in global healthcare expenditure, and rapid growth in the aging population.

The global Regenerative medicine market is segmented based on type, therapy, application, and regions. The cell-based products segment is expected to register to have largest market share in the Regenerative medicine market, by type, during the forecast period. The high growth in this segment is attributed to the increasing awareness about stem cell therapy, growing funding for new stem cell lines, and development of advanced genomic methods.

On the basis of therapy, the cell therapy procedure is expected to account for the largest share of the market in 2016. Increasing funding from several agencies and private organizations for the research and development of cell therapies, growing inclination of the healthcare industry towards stem cell research, and increasing global awareness about the benefits of stem cell therapies will drive the growth of this market.

The key players in the cell-based products segment are Organogenesis Inc. (U.S.), Osiris Therapeutics, Inc. (U.S.), Vericel Corporation (U.S.), Stryker Corporation (U.S.), and NuVasive, Inc. (U.S.). The key players in the acellular products segment are Medtronic (Ireland), Acelity (KCI Concepts) (U.S.), Integra Life Sciences (U.S.), Cook Biotech Inc. (U.S.), and C.R. Bard (U.S.). Order a copy of Regenerative Medicine Market by Therapy (Cell Therapy, Tissue Engineering, Immunotherapy, Gene Therapy), Product (Cell-Based, Acellular), Applications (Orthopedic & Musculoskeletal Disorders, Dermatology, Oncology, Cardiology)

On the basis of applications, the segments are orthopedic & musculoskeletal disorders, dermatology, cardiology, diabetes, central nervous system diseases, and other applications. Oncology is the fastest growing application market. Increasing cancer incidence, rich product pipeline and increasing demand for cancer treatments fueling the growth of the market.

Geographically, the Regenerative medicine market is dominated by North America, followed by Europe, Asia-Pacific, and the Rest of the World (RoW). Growth in the North American segment is primarily driven by rapidly increasing aging population and increases in chronic diseases are the major drivers for developed economies like the U.S.