Regenerative Medicine Market – Analysis and Forecast To 2024 | Organogenesis Inc., Nuvasive, Inc., Stryker Corporation.

The global regenerative medicine market is growing at a significant rate, due to the mounting occurrence of chronic diseases, degenerative diseases, and genetic disorders, and expanding the geriatric population. A different product such as cell-based products and acellular products contributed to the regenerative medicine market size. The market has witnessed a high demand for cell-based products due to mounting alertness about stem cell therapy, and escalating funding from several agencies.

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The emerging technological advances, a mounting number of clinical trials, and the mounting number of partnerships and collaborations are the major trends of the regenerative medicine market

Ethical matters with the usage of embryonic stem cell for research and development, product failure and recalls, and absence of well-defined regulatory strategies are the major challenges for the growth of regenerative medicine market.

Escalating demand of organ transplantation is creating ample opportunity for the regenerative medicine market. Regenerative medicine and organ transplantation both impart the identical needed goal i.e. to renovate or substitute organ function. The technology helps in engineering damaged tissue and organs through encouraging the body’s own repair mechanisms to functionally restore previously irreversible tissues or organs. Moreover, if a restored organ’s cells would be resultant from the individual tissue or cells, this would resolve the difficulty of the scarcity of organs for donation, and the problem of organ transplant refusal.

Asia-Pacific is observed to witness the fastest growth in the market, due to mounting research activities. In addition, availability of funding for research, intensifying accessibility to healthcare facilities, the upsurge in healthcare expenditure and mounting occurrence of chronic diseases and genetic disorders are also creating a positive impact on the regenerative medicine market growth in the region.

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Integra Lifesciences Corporation, Organogenesis Inc., Nuvasive, Inc., Stryker Corporation, Vericel Corporation, Medtronic PLC, Osiris Therapeutics, Inc., and Cook Biotech Incorporated are the key players offering regenerative medicine.

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