The regenerative medicine market is witnessing a high growth rate across the world. The increasing incidence of bone injuries and joint fractures are boosting this market. According to Transparency Market Research (TMR), the market will reach a value of US$6.5 bn by the end of 2019.
Increasing Governmental Support Propels Global Regenerative Medicine Market
The government in various countries are .supporting their respective markets for regenerative medicines with funds and several awareness programs. Apart from this, the rising prevalence of chronic diseases and generic disorders and the substantial rise in healthcare expenditure are also supporting the regenerative medicine market across the world. Going forward, the presence of a strong product pipeline will boost the global market in the years to come. However, the absence of clear regulatory guidelines, increasing concerns over ethics, and the use of embryonic stem cell for the research and development may hamper this market in the coming years. Nonetheless, the augmenting demand for organ transplantation and the surge in commercialization of regenerative medicine will supplement the market’s growth in the long run.
Research Activities Boost North America Regenerative Medicine Market
North America has been leading the global regenerative medicine market, thanks to the extensive research being carried out by players in this region. Many of the global participants in this market are headquartered in the U.S., which give North America a competitive edge over other regional markets. Another factor behind the growth of the North America regenerative medicine market is the presence of a high geriatric population base, which is highly susceptible to bone and joint problems.
Another lucrative region for the global regenerative medicine market is Asia Pacific. Due to ample availability of untapped potential, a number of players are expanding their bases in Asian countries, which, in turn, is strengthening the Asia Pacific regenerative medicine market, considerably.
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