Pune, India, Feb. 02, 2022 (GLOBE NEWSWIRE) -- The global regenerative medicine market is likely to expand considerably in the coming years due to growing applications in the treatment of chronic diseases. According to a report published by Fortune Business Insights, titled “Regenerative Medicine: Global Market Analysis, Insights and Forecast, 2019-2026,” the market was valued at USD 23,841.5 Mn in 2018. Fortune Business Insights states that the market will reach USD 151,949.5 Mn by the end of 2026, thereby exhibiting a CAGR of 26.1%.
Recent developments in treatment of acute and chronic diseases can be attributed to advances in regenerative medicines. Regenerative medicine mainly focus on identifying the root cause of the disease and aims at locating, repairing, and regenerating the non-functioning body cells. As most of the chronic and acute diseases are inclined towards the elderly and geriatric population, the growing geriatric population serves growth of the global regenerative medicine market in the coming years. The ability of regenerative medicine to reduce the burden for some of the most severe chronic diseases will create a high demand for the products in the coming years. Furthermore, applications of regenerative medicine in treatment of diabetic ulcers and chemotherapy will favor the growth of the market in the forthcoming years.
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Novartis Receives EU Approval for Luxturna
The severity of chronic diseases has led to the demand for efficient medicines. The ability of regenerative medicine to treat severe life-threatening diseases in an efficient manner has created a huge demand for the products across the world. Increasing drug approvals have contributed to the rising uptake for regenerative medicines. In 2018, Novartis received usage approval from the European Union for its latest regenerative medicine ‘Luxturna’. The drug was used to treat and restore sight for people with vision impairment. Luxturna was widely useful in treatment of rare retinal diseases. Fortune Business Insights states that the approval for Luxturna will contribute to the growth of the global regenerative medicine market in the forthcoming years.
Integra LifeSciences’ Latest Product Offering Will Favor Market Growth
The advancements in regenerative medicine have fueled their demand across the world. Increasing product launches have contributed to the rising uptake of regenerative medicine across the world. In 2017, Integra LifeSciences announced the launch of Integra Dermal Regeneration Template Single Layer ‘Thin’. The product was aimed at repairing dermal defects in a one-step procedure. The medicine will also aid in reducing hospital stays. Fortune Business Insights has identified Integra’s latest product offering as a major market growth driver. The report includes product launches, similar to Integra’s latest medicine and gauges the impact of these products on the global regenerative medicine market in the coming years.
Fortune Business Insights some of the leading companies that have made significant growth contributions to the global market. Besides this, the report identifies some of the attractive business strategies that have been adopted by renowned companies in the world. Some of the leading companies that are operating in the market are Integra LifeSciences Corporation, CELGENE CORPORATION, Medtronic, American CryoStem Corporation, Tissue Regenix, Avita Medical, Osiris Therapeutics, Inc., Wright Medical Group N.V., Smith & Nephew, and Integra LifeSciences Corporation.
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List of Key Players in Regenerative Medicine Market:
- Integra LifeSciences Corporation
- CELGENE CORPORATION
- Medtronic
- American CryoStem Corporation
- Tissue Regenix
- Avita Medical
- Osiris Therapeutics, Inc.
- Wright Medical Group N.V.
- Smith & Nephew
- Integra LifeSciences Corporation
- Other players
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Major Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Prevalence and incidence of diabetes, by key countries
- Advancements in insulin delivery devices
- Pricing Analysis, by key players
- Technological Advancements
- Key mergers & acquisitions, by key players
- Global Regenerative Medicine Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Cell Therapy
- Gene Therapy
- Tissue Engineering
- Platelet Rich Plasma
- Market Analysis, Insights and Forecast – By Application
- Orthopedics
- Wound Care
- Oncology
- Others
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospitals
- Clinics
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- Latin America
- Middle East & Africa
- North America Regenerative Medicine Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Cell Therapy
- Gene Therapy
- Tissue Engineering
- Platelet Rich Plasma
- Market Analysis, Insights and Forecast – By Application
- Orthopedics
- Wound Care
- Oncology
- Others
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospitals
- Clinics
- Others
- Market Analysis, Insights and Forecast – By Country
- U.S.
- Canada
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