United States Regenerative Medicine Market to Witness Formidable CAGR During Forecast Period
Increasing technological
innovations in the field of tissue engineering and stem cell therapy is
expected to drive the growth of United States regenerative medicine market
According
to TechSci Research report, “United States Regenerative Medicine
Market By Type (Cell-based immunotherapy & Cell
therapy products, Gene therapy products, Tissue-engineered products, Others), By
Material (Biologically Derived Material, Synthetic Material, Pharmaceuticals,
Genetically Engineered Material, Others), By Application (Musculoskeletal
Disorders, Wound Care, Oncology, Ocular Disorders, Diabetes, Others), By
Region, Forecast & Opportunities, 2025”, the United States regenerative medicine market is expected
to grow at a formidable rate of around 13% during the forecast period on
account of the rising prevalence of chronic and genetic disorders, increased
healthcare expenditure by the government, growing demand for organ
transplantations, among others. Additionally, the presence of strong product
pipelines in stem cell and gene therapy backed by various research institutes
and key companies is further driving the growth of market in the country. However,
high cost of treatment and ethical issues can hamper the growth of market
during forecast period. Additionally, the regulatory barriers and stringent
government regulatory policies are the major restraints for the US regenerative
medicine market.
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The United States regenerative medicine market
is segmented based on type, material, application, company and region. Based on
application, the market can be fragmented into musculoskeletal disorders, wound
care, oncology, ocular disorders, diabetes, dermatology and others. The
musculoskeletal disorders segment is expected to dominate the market owing to
the rising incidence rate of orthopedic diseases with rising geriatric
population. While, the oncology segment is expected to register the highest
CAGR during the forecast years. This can be accredited to high prevalence of
cancer, which is resulting in the implementation of various cancer treatment
options. Furthermore, various government, non-government organizations and
companies are investing in cancer research and development of regenerative
medicines to cure these types of ailments. Based on material, the market can be
categorized into biologically derived material, synthetic material,
pharmaceuticals, genetically engineered material and others. The genetically
engineered material segment is expected to grow significantly during the
forecast period owing to their unique properties such as promotion of cellular
interactions, increased proliferation, and differentiation of cells that
facilitate self-assembly into directionally organized structures and control
the manipulation of cellular behaviour.
Kite Pharma (Gilead Sciences), Novartis,
Merck & Co., Inc., Vertex Pharmaceuticals Incorporated, SanBio, Inc.,
Hitachi Chemical Advanced Therapeutics Solutions, LLC, Integra LifeSciences,
Osiris Therapeutics, Inc., Pfizer Inc, Baxter International Inc.,
GlaxoSmithKline plc., Bayer Corporation and others are some of the
leading players operating in United States regenerative medicine market. For
instance, in 2018, Novartis received European Union approval for one-time gene
therapy ‘Luxturna’, which has been developed to restore vision in people with
rare and genetically associated retinal disease. During the same year Novartis
also received the approval for its CAR-T cell therapy-Kymriah by the European
Union.
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“United
States regenerative medicine market is expected to witness significant growth
during the forecast years, owing to the surging research activities in the
field of regenerative medicines, introduction of CAR-T cell therapies, among
others in the country. Additionally, the presence of research institutes
involved in the development of novel therapeutics and availability of advanced
technologies are the major drivers behind large number of clinical trials in
the country as well as the North America region. Furthermore, the presence of
key players in the country such as Novartis, Merck & Co., Inc., Pfizer Inc, GlaxoSmithKline plc., Bayer
Corporation, among others are expected to propel the market through 2025.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
“United States Regenerative Medicine Market
By Type (Cell-based
immunotherapy & Cell therapy products, Gene therapy products,
Tissue-engineered products, Others), By Material (Biologically Derived
Material, Synthetic Material, Pharmaceuticals, Genetically Engineered Material,
Others), By Application (Musculoskeletal Disorders, Wound Care, Oncology,
Ocular Disorders, Diabetes, Others), By Region, Forecast & Opportunities,
2025” has
evaluated the future growth potential of United States regenerative medicine market
and provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in United States regenerative medicine market.
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