Regenerative Medicine Market

Regenerative Medicine Market: Tissue Engineering Technology will Remain Key to Overall Growth: Global Industry Analysis and Opportunity Assessment, 2015-2019

The global regenerative medicine (bone and joint) market is estimated at US$ 4,254.0 Mn in 2015 and is expected to grow at a double digit CAGR during the forecast period of 2015 - 2019.

Tissue Engineering Segment to Fuel the Regenerative Medicine Market Growth

The Global Regenerative Medicine Market is expected to observe the highest growth coming from the Tissue Engineering segment. By technology type, biomaterial segment currently holds the largest market share of global regenerative medicine market. However, Tissue Engineering segment is anticipated to be the fastest growing segment over the forecast period. In terms of value, the tissue engineering segment market is expected to expand at an outstanding CAGR of 17.5% over the forecast period of 2015-2019, to reach a market value of about US$ 1,070 Mn by 2019. Currently, tissue engineering segment accounts for almost 13.2% of the total share of the global regenerative medicine market, which is expected to increase potentially by 2019 end. The tissue engineering segment observed a year-on-year growth rate of about 22% during the year 2015.

Tissue Engineering Technology in Regenerative Medicine - Market Dynamics

Drivers

Tissue engineering is a new field in bone and joint reconstruction and considered a promising segment in the global regenerative medicine (bone and joint) market due to technological innovations (nanotechnology based tissue engineering). Tissue engineering products comprise minimally manipulated components such as biomaterials and cells. Researchers prefer next generation tissue engineered biomaterial based technologies for delivery of drugs, cells and genes. Hence, products manufactured by the technology comprise multiple components such as cells, scaffold and growth factors. Therefore, next generation tissue engineered products would revolutionize the scope of the regenerative medicine market for bone and joint applications. Thus, technological innovations in biomaterials, stem cell therapy and tissue engineering would drive the global regenerative medicine (bone and joint) market.

Moreover, extensive government support in tissue engineering for the development of innovative treatment would drive the global regenerative medicine (bone and joint) market. For instance, in the U.K., most tissue engineering regenerative medicine projects are reviewed and supported by four research councils: Engineering and Physical Sciences Research Council (EPSRC), Medical Research Council (MRC), The Biotechnology and Biological Sciences Research Council (BBSRC) and Economic and Social Research Council (ESRC).

Restrains

However, strict regulatory compliance for tissue engineered products would hamper demand for tissue engineered regenerative medicine products. In addition, ethical hurdles (use of human tissue for commercial production) with context to tissue engineered products would restrict the demand for regenerative medicine tissue engineering products.

Tissue Engineering Technology in Regenerative Medicine – Market Performance

The market size for tissue engineering technology in regenerative medicine market stood at US$ 200 Mn in the year 2011. The technology observed a good penetration rate in the following year and the market reached US$ 450 Mn in the year 2014, demonstrating a CAGR of close to 30%. Overall, the market is anticipated to grow at an impressive CAGR of close to 23% over the 8 years period, from 2011 till 2019.

Key Players in Tissue Engineering Technology Market

Major players in the tissue engineering segment include Arthrex, Inc. (Osteochondral Autograft Transfer System), DePuy Synthes, Inc. (COR and COR2) and Smith & Nephew plc. (Mosaicplasty System).

global regenerative medicine market

In the year 2015, Biomaterial technology type held the largest market share of over 60% of the global regenerative medicine market. The segment is estimated to remain the largest market share holder throughout the forecast period. Stem Cell Therapy technology segment is expected to be the second largest market share holder. However, the segment is anticipated to grow at the lowest CAGR in comparison with other technology types for regenerative medicine market.

REPORT DESCRIPTION

This report analyzes the current and future prospects of the regenerative medicine across the globe. Regenerative medicine is considered as an emerging field of medical science that aims to regenerate, repair or replace damaged tissue and organs. 

The research is a robust combination of primary and secondary research. Primary research formed the bulk of our research efforts with information collected from telephonic interviews and interactions via e-mails. Secondary research involved study of company websites, annual reports, press releases, stock analysis presentations, and various international and national databases. The report provides market size in terms of US$ Mn for each segment for the period from 2015 to 2019, considering the macro and micro environmental factors. Growth rates for each segment within the global regenerative medicine market have been determined after a thorough analysis of past trends, demographics, future trends, technological developments, and regulatory requirements.

The market report comprises an elaborate executive summary, which includes a market snapshot that provides information about various segments and sub-segments of the market. It also provides information and data analysis of the global regenerative medicine market with respect to market segments based on the technology type, application type and geographic analysis. This report includes estimation of the global regenerative medicine (bone and joint) market in terms of value (USD million) for the period 2015 to 2019. In addition, current trends and recent developments are taken into consideration while determining the growth rate of the global regenerative medicine (bone and joint) market. The report provides market size and forecast for each segment, sub-segment and geographic region with CAGR % for the period 2015 to 2019.

The global market for regenerative medicine is segmented based on technology as stem cell therapy, biomaterials and tissue engineering. In 2012, biomaterials segment accounted for the largest market share in the global regenerative medicine (bone and joint) market owing to favorable reimbursement policies and strong demand of biomaterials in the global market. However, high cost associated with biomaterials is a factor that would restrict the global market demand to some extent during the study period.

In addition, based on applications the global market for regenerative medicine (bone and joint) is segmented as bone graft substitute, osteoarticular diseases, allogeneic bones, autogenic bones and others. In 2012, bone graft substitute segment accounted for the largest market share in the global regenerative medicine bone and joint application market owing to growing demand of bone graft substitute in orthopaedic surgeries. However, post implantation rejection associated with bone graft substitute is considered as a crucial factor that would restrict the global market demand of bone graft substitute.

Geographically, the global regenerative medicine (bone and joint) market has been segmented into four regions: North America, Europe, Asia-Pacific and Rest of the World (RoW). Market size, forecast and CAGR (%) for each region have been provided. A detailed qualitative analysis of the factors responsible for driving and restraining the growth of the regenerative medicine (bone and joint) market and future opportunities are provided in the report. A PESTLE analysis has also been done while estimating individual geographies in order to provide current as well as future status. A list of recommendations for existing as well as new entrants has also been discussed in the study that is expected to help in decision-making.

Major market players profiled in this report includes Anika Therapeutics, Inc., Arthrex, Inc., Baxter International, Inc., CONMED Corporation, DePuy Synthes, Inc., Medtronic, Inc., Smith & Nephew PLC, Stryker Corporation and Zimmer Holdings, Inc.

The global regenerative medicine (bone and joint) market is segmented as follows:

  • Regenerative Medicine (Bone and Joint) Market, by Technology
    • Stem Cell Therapy
    • Biomaterial
    • Tissue Engineering
  • Regenerative Medicine (Bone and Joint) Market, by Application
    • Bone Graft Substitutes
    • Osteoarticular Diseases
    • Allogeneic Bones
    • Autogenic Bones
    • Others
  • Regenerative Medicine (Bone and Joint) Market, by Geography
    • North America
    • Europe
    • Asia-Pacific
    • Rest of the World