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Published Date: 2014-07-01Number of Pages: 85

Regenerative Medicine Market (Bone and Joint) (Technology - Stem Cell Therapy, Biomaterial and Tissue Engineering; Application - Bone Graft Substitutes, Osteoarticular Diseases, Allogeneic Products, Autogenic Products and Others) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019

Global Regenerative Medicine Market: Snapshot

Increasing application areas such as neurology, cardiovascular, musculoskeletal and orthopedic diseases will build up greater opportunities, states TMR. The market for regenerative medicine market appears to be fragmented in terms of competition. The Asia Pacific region will present large opportunities, displaying a promising CAGR between 2013 and 2019. The Asian countries such as South Korea, China, and Japan hold considerable prospects for augmentation of global regenerative medicine market. Smith & Nephew, a British medical equipment manufacturing company acquired Sushrut Surgical Pvt. Ltd., an India-based medical technology firm, enhancing access to the consumer pool in Asian countries in order to secure larger profits.

The global regenerative medicine market was pegged at US$2.5 mn in 2012. It is projected to achieve US$6.4 mn by the end of 2019, expanding at a progressive CAGR of 12.8% during the forecast period.

North America Leads Due to Increasing Bone and Joint Reconstructive Surgeries

North America, owing to a large number of leading companies operating in regenerative medicine, dominates the global regenerative medicine market. The ongoing expansive research and development activities in the U.S. will also drive the North America segment. The bone and joint regenerative medicine market is the leading application segment in this region, as a high demand for regenerative medicine is exhibited.

The region of Asia Pacific will witness monumental growth because of its massive consumer pool, rising disposable incomes of people, and growing healthcare expenditure. Over the coming years, the regenerative medicine market in Asia Pacific will benefit from the growing demand for orthopedic surgeries, technological innovations, high incidence of joint and bone diseases, and increasing awareness about regenerative medicine. However, the market might face challenges such as high costs and regulatory policies.

Japan displays great potential on account several favorable factors. Fewer regulatory restraints, coupled with technological advancements in the area of regenerative medicine will ensure market expansion in the country. One key technological development is the emergence of 3D tissue bioprinters that enable the creation of blood vessels, cartilage, skin and other tissues.

Extensive Research in Stem Cell Therapy to Promote Growth

Bio-based alternatives such as stem cell therapy and tissue engineering have gained prominence despite the rapid development of synthetic options. The high generative power of stem cells enables the production of other cells in the body. This feature of stem cells has raised demand for stem cell therapies. Additionally, stem cell therapy is used in the treatment of diseases such as cancer, retinal diseases, Alzheimer’s, diabetes, heart failure treatment, rheumatoid arthritis, autism spectrum, multiple sclerosis, cerebral palsy, and osteoarthritis, among others. It is projected that stem cells will occupy an important portion of regenerative medicine market over the coming period. Therefore, large-scale research activities have been undertaken in order to tap their full potential. However, factors such as ethical issues related to the use of embryonic stem cells might pose a threat to further expansion.

Notwithstanding the advancement of the stem cell therapy segment, the biomaterials segment is expected to retain its foremost position in the global regenerative medicine market. The largest amount of shares were held by this segment in 2012 on account of great demand for biomaterials and supportive reimbursement policies.

The key players operating in the global regenerative medicine market are Stryker Corporation (Vitoss Bone Graft Substitute), DePuy Synthes, Inc. (Healos Bone Graft), CONMED Corporation, Arthrex, Inc., Zimmer Holdings, Inc. (CopiOs Bone Void Filler), and Medtronic, Inc.(INFUSE Bone Graft).

Regenerative medicine is an emerging field in the healthcare industry concerned with the repair, replacement, and regeneration of damaged human tissue and organs. This includes damage from age-related degeneration, congenital defects, accidents, or diseases. Due to its vital contribution, regenerative medicine is becoming widely popular in the treatment of neurological, cardiovascular, musculoskeletal, and orthopedic conditions. Bone and joint conditions are among the leading applications of regenerative medicine. The viability of several synthetic alternatives to bones and joints is one of the key points that have driven investment in regenerative medicine in the recent past. 

The report presents a detailed summary of the historical development trajectory exhibited by the global regenerative medicine market and explains the market’s present condition through industry-standard analytical tools. A solid analysis of the market’s statistics is used to derive reliable forecasts regarding the development of the market in the coming years. According to the report, the global regenerative medicine market is expected to reach a valuation of US$6.5 bn by the end of 2019. 

Global Regenerative Medicine Market: Trends and Opportunities 

The increasing incidence of bone and joint diseases and injuries, brought about by the chronic damage done by the unhealthy lifestyle of most urban consumers and the rising number of vehicular and sports accidents, is the key driver for the global bone and joint regenerative medicine market. The sedentary lifestyle and chronically unhealthy diets of many urban individuals leave them prone to diseases that weaken or damage the bones, leading to a greater demand for orthopedic implants. 

While synthetic alternatives to bones and tissues are being developed at a steady rate, biobased alternatives such as stem cell therapy and tissue engineering have enjoyed a rapid emergence in the last few years. The ability of stem cells to develop into multiple types of human cells makes them vital in the treatment of several types of diseases. Stem cells are being intensively researched at present to maximize the scope of their use, and their use is likely to become increasingly important to the regenerative medicine market over the coming years. However, the biomaterials segment is likely to remain the leading contributor to the global regenerative medicine market in the near future. 

On the other hand, ethical objections to the use of stem cells have held back their widespread use and have also led to some restrictions on research into their utility in medicine. This is a key restraint on the overall regenerative medicine market, since stem cells are likely to be a crucial part of the future of the market. 

Global Regenerative Medicine Market: Geographical Segmentation 

Regionally, North America is the key contributor to the global regenerative medicine market due to the presence of several leading market players in the region, which has led to the latest advances in the field becoming easily available to patients. The well-funded R&D environment in the U.S. is also a key driver for the North America bone and joint regenerative medicine market, which is likely to remain a dominant regional market for regenerative medicine in the coming years. 

Asia Pacific is likely to emerge as a leading regional market for bone and joint regenerative medicine in the coming years. The increasing patient pool of bone and joint conditions and the steady rise in healthcare expenditure in Asia Pacific are vital in ensuring sustained growth of the Asia Pacific regenerative medicine market in the coming years. Many key multinational players in the regenerative medicine market have identified Asia Pacific as a high-potential market for the future and have accordingly taken steps to expand their presence in the region. 

Key players examined in the report include Smith & Nephew plc, Anika Therapeutics Inc., DePuy Synthes Inc., Baxter International Inc., Stryker Corporation, Medtronic Inc., Arthrex Inc., Zimmer Holdings Inc., and CONMED Corporation. 

Global Regenerative Medicine (Bone and Joint) Market by Technology

  • Biomaterials
  • Stem Cells
  • Tissue Engineering 

Global Regenerative Medicine (Bone and Joint) Market by Application

  • Bone Graft Substitutes
  • Osteoarticular Diseases
  • Allogeneic Bones
  • Autogenic Bones 

Global Regenerative Medicine (Bone and Joint) Market by Geography

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World


 
 
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