(PharmaNewsWire.Com, November 28, 2017 ) According to the report Regenerative Medicines, published by Market Data Forecast, the North America market is projected to reach USD 13.68 billion by 2022, at a CAGR of 20.5% from 2017 to 2022.
Regenerative medicines replace, repair or regenerate human tissues, cells or organs which are affected due to injury, aging processes, disease, damage due to trauma and congenital defects. These medicines bring back normal functions of tissues and cells. These medicines are available in various forms such as genes, stem cells, somatic cells and other types. Some of these medicines have the capable of proliferating, differentiating hence restore the normal structure of cells or organs or tissues.
Regenerative medicines are utilized in wide range of degenerative disorders which includes cardiovascular, dermatology, and orthopaedic and neurodegenerative diseases among others. Majority of the researchers aim over focusing on the development of novel technologies so as to provide effective healthcare treatment solutions and better regenerative medicines to patients.
North America Regenerative Medicines: Drivers & Restraints
Regenerative Medicines market in this region is driven by factors like rising advancements in tissue engineering technologies and stem cell therapy, growing demand for bone & joint reconstructive surgeries, increasing adoption of regenerative medicines, rising number of new product launches, huge number of cell therapy products and growing funding from BARDA and NIH for R&D, and rising development of regenerative medicines among others. However, the market is constrained by factors such as presence of ethical regulations for using cell-based products and stringent regulatory frameworks for the approval of cell based products among others.
Factors like increasing adoption of regenerative medicines and rising number of new product launches are affecting the growth of this market positively. However, other factors such as presence of ethical regulations for using cell-based products and stringent regulatory frameworks for the approval of cell based products are restraining the growth of this market. By products, cell based products segment has the largest market share while by therapy, cell therapy has the largest share.
North America Regenerative Medicines: Key Players
Some of the major companies dominating North America Regenerative Medicines Market are NuVasive, Inc. (U.S.), Vericel Corporation (Genzyme) (U.S.), Acelity L.P. Inc. (U.S.), Celgene Corporation (U.S.), Organogenesis Inc. (U.S.), Cytori Therapeutics Inc. (U.S.), Japan Tissue Engineering Co., Ltd. (Japan), Vertex Pharmaceuticals Incorporated (U.S.), StemCells, Inc. (U.S.), Advantagene, Inc. (U.S.), and Mesoblast Ltd. (Australia) among others.
About Market Data Forecast:
Market Data Forecast is a firm working in the area of market research and business intelligence. With rich experience in research across various business domains, they cater to the needs of both individual and corporate clients. From all-encompassing umbrella markets to extremely specific niche markets covering all the major regions across the globe as part of the research scope, their research services offer one of a kind specialities with competitive pricing options.
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