New York, New York (PressExposure) November 04, 2015 -- U.S. National Institute of Health stated that regenerative medicine is the process of creating functional tissue to repair and replace tissue or organ which has lost their function due to damage, congenital defects, disease and age. Moreover, it has included stem cell therapy, tissue engineering and biomaterial under the umbrella of regenerative medicine. Regenerative medicine has wide areas of application such as cardiovascular, neurology, orthopedic and musculoskeletal diseases and disorders. This research report explains various advancements occurring in this market and analyzes the global regenerative medicine (bone and joint) market by technology and application as well as geographic region. The regenerative medicine (bone and joint) market report comprises an elaborate executive summary, which includes market snapshot that provides overall information of various segments and sub-segments that are contained in the report. Comparative analysis has also been included in the executive summary that resembles the percentage market share of each region (North America, Europe, Asia-Pacific, RoW) in 2012 and 2019 respectively.
Regenerative medicines possess the distinctive capability to repair, reinstate, and regenerate tissues and organs damaged owing to injuries, diseases, or because of natural progression of age. These regenerative medicines are capable of re-establishing the functionality of tissues and organs. These medicines are applicable in a broad range of degenerative disorders such as dermatology, cardiovascular and neurodegenerative diseases, and orthopedic applications. Medical professionals and scientists are researching to develop technologies based on genes, biologics, somatic and stem cells.
Technological Development to Drive Global Regenerative Medicine Industry
The technological development in tissue engineering and stem cell therapy is likely to augment the growth in the global regenerative medicine market particularly the bone and joint segment. In addition to this, the rising prevalence of bone and joint disorders has also caused the regenerative medicine market to grow at a healthy pace. However, some factors such as strict regulatory measures, ethical issues related to stem cell therapy, and infections occurring post implant are likely to hamper the development in the global market for regenerative medicine during the period of 2013 to 2019.
Biomaterial, stem cell therapy, and tissue engineering are the three segments of the global regenerative medicine industry according to the technologies employed in this market. In 2012, the biomaterials segment occupied the biggest share in the global regenerative medicine industry pertaining to bone and joint because of the strong demand for biomaterials and favorable reimbursement policies in the global regenerative medicine market. On the other hand, the high cost of biomaterials would prove to be a restricting factor to the growth of the global market to a large extent in the coming years.
Post Implantation Infection to Hamper Growing Regenerative Medicine Industry
Osteoarticular diseases, bone graft substitute, autogenic bones, allogeneic bones, and others are the categories of the global market for regenerative medicines based on various applications of these medicines. The bone graft substitute segment held the biggest share in the overall regenerative medicine application market in 2012, due to the growth in the demand for bone graft substitute in orthopedic surgeries. But, post implantation infection linked with bone graft substitute is considered as a critical factor that can limit the global demand for bone graft substitutes.
The regenerative medicine market concerning bone and joint is regionally distributed into regions such as North America, Europe, Asia Pacific, and Rest of the World. The market in North America held the biggest market share for regenerative medicine across the globe in 2012 owing to the rise in orthopedic reconstructive surgeries and introduction of technically advanced medical products and devices.