According to the latest market report published by Persistence Market Research, titled ‘Global Market Study on Regenerative Therapies: Asia Pacific & Japan to Witness Highest Growth by 2022’, the global regenerative therapies market is expected to expand at a CAGR of 20.0% during the forecast period 2016 – 2022.
The market is segmented based on tissue type, application type, end user type, and region. On the basis of tissue type, the overall market has been segmented into allografts, xenografts, and alloplasts. On the basis of application type, the market has been segmented into soft tissue repair, cardiovascular, dental, orthopedic, CNS disease treatment, and others, which include diabetes, autonomous diseases, ocular, and oncology.
On the basis of end-user, the market has been segmented into hospitals, ambulatory surgical centers, and educational institutes. By tissue type, the allografts segment is expected to remain the largest segment, registering the highest CAGR of 22.8% in terms of value, over the forecast period. The long-term effectiveness of the treatment and higher its higher biocompatibility with the patient is expected to contribute to the rise in its popularity over the forecast period.
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The allografts tissue type segment is expected to reach a market value of US$ 11,633.2 Mn by the end of the forecast period. The allografts tissue is also expected to emerge as the most preferred tissue type for both patients and physicians, globally, over the forecast period. The second most popular tissue type choice is xenografts, which are basically prepared by using various animal tissues.
On the basis of the application type, the market has been segmented into soft tissue repair, cardiovascular, dental, orthopedic, CNS disease treatment, and others (which includes diabetes, autonomous diseases, ocular, and oncology). Currently, a majority of the patients and surgeons globally prefer regenerative therapies for orthopedic, soft tissue repair, and cardiovascular problems.
On the basis of the end user segment type, the market has been segmented into hospitals, ambulatory surgical centers, and educational institutes. Currently, hospitals are the most preferred option for patients globally.
On the basis of region, the market has been segmented into North America, Latin America, Europe, Asia Pacific & Japan, and the MEA regions.
Rising per capita healthcare expenditure and contribution to GDP, increasing funding & government support for the development of regenerative therapies, as well as surge in incidences of chronic diseases are major factors driving the growth of the global regenerative therapies market currently.
Other trends driving the market growth include industry maturation, advancements in technology, and increasing demand for long-term results and shorter-time therapeutic procedures by patients. However, the market is expected to observe regulatory re-establishment with an increase in regenerative procedures and standardization of therapies over the forecast period.
The absence of standard regulations and legislations is leading to the invasion of many local players in both the developed and emerging regions. Moreover, high gestation period and time-to-market due to lengthy clinical trials, a large number of product recall within a short span post-approval, and lack of financial-backing by smaller firms are among the major factors hampering the growth of regenerative therapies market currently.
This report assesses trends driving each market segment and offers analysis and insights about the potential of regenerative therapies in specific regions. North America market is estimated to dominate the overall regenerative therapies market, accounting for a maximum value share of the global market by the end of 2016. By 2022, North America and Europe markets are expected to account for over three-fourth revenue share of the global regenerative therapies market. In terms of value, North America is estimated to be the dominant market, expanding at a CAGR of 19.7% over the forecast period.
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Some key companies covered in this report include Acelity L.P. Inc., Mesoblast Ltd., Nuo Therapeutics, Inc. (Cytomedix), Astellas Pharma US, Inc., Organovo Holdings Inc., Orgenesis Inc., Sanofi, Athersys, Inc., Shire Pharmaceuticals Limited, and Cytori Therapeutics Inc. These companies are primarily focused on enhancing their product portfolio through R&D and on the introduction of innovative and cost-effective regenerative therapies in order to gain higher market share and to strengthen their respective position in the global regenerative therapies market.