(MENAFN- Market Press Release) 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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