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The global regenerative medicine market has been estimated to reach USD 4.23 billion in 2023. The market is expected to register a CAGR of 14% during the forecast period 2018 to 2023. North America dominates the market due to the increasing technological advancements.
Increasing adoption of stem cell technology
Increasing adoption of stem cell technology, increasing prevalence of chronic diseases, emerging applications of gene therapy in regenerative medicine are some of the driving factors for Global Regenerative Medicine market. Technological advances in regenerative medicine stem cell, tissue engineering, and nanotechnology and high investment funding to support development of regenerative medicine are also fuelling the market growth.
Regulatory and ethical issues
Regulatory and ethical issues pertaining stem cell, tissues engineering and regenerative medicine are acting as a restraint for Regenerative Medicine market. High cost of treatments and less awareness about the regenerative medicine among people is further restraining the market.
North America to Dominate the Market
The Regenerative Medicine market is segmented by type of treatment and geography. By geography it is segmented into North America, Europe, AsiaPacific, the Middle East and Africa and South America.
North America dominates the Regenerative Medicine market due to the increasing technological advancements and high investment funding to support development of regenerative medicine. AsiaPacific is also expected to propel the Regenerative Medicine market owing to factors, such as increasing accessibility to healthcare facilities in the region, and increasing economic growth.
Key developments in the market
In January, 2018: Medeor Therapeutics Awarded $18.8 Million From the California Institute for Regenerative Medicine
In January, 2018: RepliCel Life Sciences Inc. formed a partnership with the private firm, Chinabased Yofoto Health Industry Co. Ltd for regenerative medicine
Major key players: ACELITY, OSIRIS THERAPEUTICS, INC., INTEGRA LIFESCIENCES CORPORATION, ASTRAZENECA, COOK BIOTECH INCORPORATED, ORGANOGENESIS INC. and MERCK CO., INC. etc.
Reasons to purchase this report
Market analysis for the Global Regenerative Medicine Market, with regionspecific assessments and competition analysis on a global and regional scale.
Analyzing various perspectives of the company with the help of Porter's five forces analysis
The treatment type that is expected to dominate the market
Regions that are expected to witness fastest growth during the forecast period
Identify the latest developments, market shares and strategies employed by the major market players.
3 months analyst support along with the Market Estimate sheet in excel.
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