Regenerative Medicine Market Driven by Geriatrics Population

 

Loss of tissue cells and organs due to infection, ailments, and injuries encourages the market for regenerative medicines. Additionally, recent innovations of advanced nanotechnology in biomaterials have proved to be a vital growth driver in the Global Regenerative Medicine Market, as per the findings of a new business report from IndustryARC. The report evaluates that the global regenerative medicine market size was around billion to billion as of 2018, and projects the demand to grow at an impressive CAGR of 22% to 24% during the forecast period of 2019 to 2025.

 

Regenerative medicine is a division of translational research in molecular biology and tissue engineering which nurtures the process of replacement of human tissues, cells, and organs. According to the U.S. Government on Organ Donation and Transplantation, 36,528 transplants were performed in the year 2018, and more than 113,000 individuals are waiting in the National Transplant Waiting list for the year 2019. With such an influx of demands from the organ transplant industry, the regenerative medicines market is poised to flourish. 

 

 

The regenerative medicines market is growing throughout the developing and developed economies. However, as per the Industry ARC’s report, the North American region is the most profitable region, offering around 30% to 32% of the total demand in 2018. Being a developed segment of the world, the North American population possess a significant amount of disposable income. This economic freedom has enabled the population to pursue an expensive and effective therapy in case of any tissue or organ damage. 

 

Orthopaedic and musculoskeletal are the most lucrative application segments of the regenerative medicines market, increasing at a striking CAGR of 21% to 23% through the aforementioned forecast period. The globally rising geriatrics population is facing issues related to deformities of bones and muscles. With increasing number of facilities for the treatment of orthopaedic and musculoskeletal damages, the regeneration market is projected to grow vigorously.      

 

• The Density of population affected by instances of damaged skin and skin cancer has risen in recent years. The introduction of skin drafting methodology with the help of regenerative medicines has facilitated a large pool of the population. Skin drafting allows the small molecules and biologics of the damaged skin cells to produce fresh neural stem cells in the skin thereby curing the affected area. The consistently increasing awareness towards positive skin healthcare is subjected to drive growth in the regenerative medicine market. 
• The regenerative medicine market has immensely affected the lives of differently abled individuals. The deformation of limbs among the physically challenged personalities is effectively being cured with the employment of regenerative medicines. With regular innovations in the nanotechnology for biomedical, the regenerative medicines is expected to optimize the circumstances aroused due to natural or human error incidents.      

 

 

Some of the key companies identified in the report that are currently holding majority shares in the global regenerative medicine market are: Vertex Pharmaceuticals Incorporated, Medtronic Plc, Allegan Plc, Smith & Nephew Plc, Nuvasive, Inc, Cytori Therapeutics, Inc, Vericel Corporation, BlueRock Therapeutics, Octane Biotech Inc, and Theracell Advanced Biotechnology Ltd.