ALBANY, N.Y.--(BUSINESS WIRE)--Regenerative Medicine Market is driven by several technological advancements in stem cell therapy and tissue engineering therapy. Such growth factors are expected to push the market from a value of US$2.6 billion in 2012 to US$6.5 billion by 2019. Overall, the market is expected to grow at a CAGR of 12.8% from 2013 to 2019.
Regenerative medicine is an emerging field of medical science and has wide areas of application such as musculoskeletal diseases, cardiovascular, neurology, orthopedic, and disorders. Besides technological advancements in the global regenerative medicine market, the growing prevalence of bone and joint disorders has also increased demand from the regenerative medicine market rapidly across the globe. This factor has substantially propelled the global regenerative medicine (bone and joint) market.
Based on technology, the global market for regenerative medicine is segmented as stem cell therapy, biomaterials, and tissue engineering. The report states that in 2012, due to the favorable reimbursement policies and strong demand for biomaterials, the biomaterials segment took up the largest share of the global regenerative medicine (bone and joint) market. However, according to the studies, high cost associated with biomaterials will be a major factor expected to restrict the global regenerative medicine market over the forecast period.
Moreover, the study report enlists some of the major market players in the global regenerative medicine (bone and joint) market. These include Medtronic, Inc. (INFUSE Bone Graft), Zimmer Holdings, Inc., Orthofix, Inc. (Trinity Evolution), DePuy Synthes, Inc., and NuVasive, Inc. (Osteocel Plus). Many of the companies operating in the regenerative medicine market focus on investing in the emerging economies in Asia Pacific, such as Japan, China, India, and South Korea. These countries represent a huge potential for various bone and joint reconstructive products because of the increasing patient pool suffering from various disorders and rising healthcare expenditure.
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