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Regenerative Medicine Market Size, share, Trend And Forecast 2028

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Santosh Autade
Regenerative Medicine Market Size, share, Trend And Forecast 2028

The Global Regenerative Medicine Market size was valued at USD 11.6 million in 2018 and is anticipated to grow at a CAGR of 21.2% during the forecast period. Regenerative medicine is a subdivision of medicine that focuses on the development of therapies that can replace or regenerate diseased, injured or defective cells, organs, or tissue to establish or restore function and structure. The regenerative medicine helps scientists and researchers to grow organs and tissues in the research institutes and laboratory and safely implant them when the body is unable to heal itself.

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Key Factors Impacting the Growth of Regenerative Medicine Market:

  • Technological advancements
  • Increasing market demand for population health
  • Government investment in regenerative medicine research
  • Prevalence of Chronic Diseases
  • Digitalization of healthcare systems

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The key leading players:

Vericel, Mimedx Group, Novartis AG, Integra Lifesciences, Stryker Inc., Wright Medical, Spark Therapeutics, Osiris Therapeutics Inc., Kite Pharma, and Organogenesis.

 

Regional Outlook:

Based on the region, the global regenerative medicine market has been segmented by North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, & Rest of the World. In terms of revenue, North America holds a dominant position in the global regenerative medicine market. The region's dominance is attributable to favorable government policies for the prevention of disease, rapidly growing geriatric population, increasing funding for regenerative medicine, rising prevalence of chronic diseases, and the presence of well-developed healthcare infrastructure. Highly efficient reimbursement structure and developed healthcare infrastructure in the North America region is one of the key factors driving the consumption of regenerative medicine in this region. Moreover, highly skilled neurosurgeons, a growing number of hospitals and research centers in key countries such as the US and Canada are also propelling the growth of regenerative medicine in the North America region. In Europe, Stringent government regulations regarding hospital devices and rapid industrialization, technological advancement in medicines, growing number of surgeries in countries, such as Germany, the UK, France, Spain, and Italy, are expected to enhance the market growth in the global regenerative medicine market during the forecast. Furthermore, Asia Pacific is estimated to project the fastest growth rate in the global regenerative medicine market during the forecast period. This growth can be accredited to several factors, such as the potentially large patient pool, the rapid development of health infrastructure coupled with increasing healthcare expenditure. In this region, the growing prevalence of chronic diseases, an increase in innovation and development in regenerative medicine, and growing geriatric populations. The growing investment by industry players through the development of new manufacturing units in the region and rising expenditure also contribute to market growth in the Asia Pacific.

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