Regenerative Medicine Market is Expected to Reach $67.6 Billion, Global, by 2020 - Allied Market Research
Portland, OR, July 11, 2014 --(PR.com
)-- According to a new market research report by Allied Market Research titled, "GlobalRegenerative MedicineMarket (Technology, Applications, Geography) - Industry Analysis, Trends, Opportunities and Forecast, 2013-2020," the global regenerative medicine market will reach $ 67.6 billion by 2020 from $16.4 billion in 2013, registering a CAGR of 23.2% during forecast period (2014 - 2020). Small molecules and biologics segment holds prominent market share in the overall regenerative medicine technology market and is anticipated to grow at a CAGR of 18.9% during the forecast period.
Regenerative medicines have the ability to restore the lost functionality of tissues or organs, unlike conventional medicines, which are palliative. The immense potential of these medicines in repairing or regenerating diseased organs is the major reason for intensive focus on research and development in this field. The technologies implemented for these medicines utilize various cell types including stem cells. The advancements in nanotechnology and stem cells application would account for further progress of this novel field of medicine.
The detailed report with TOC is available at http://www.alliedmarketresearch.com/regenerative-medicines-market
The global regenerative medicine market is segmented based on technologies into small molecules and biologics, gene therapy and cell therapy. Presently, biologics are extensively used for producing regenerative medicines followed by cell therapy. Cell therapy technology includes stem cell based methods for treating various disorders. However, most of the gene therapy products are still in clinical trials. The global market for small molecules and biologics is the largest revenue-generating segment, which is estimated to be $9.0 billion in 2013. However, gene therapy technology is expected to lead the segment at a CAGR of 28.6% during 2014-2020. The reason for this rapid growth is the ability of gene therapies to reduce the immune reactions, which occur post transplantation.
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The application segment of regenerative medicines includes dermatology, cardiovascular, central nervous system (CNS), orthopedic & dental and others. Dermatology, cardiovascular and orthopedic applications has commercialized regenerative products and ongoing clinical trials. Additionally, numerous clinical trials are in process for CNS disorders. However, CNS applications are expected to be the most attractive segment, at a CAGR of 30.8% from 2014 to 2020.
Geographically, this market is classified into North America, Europe, Asia-Pacific and LAMEA. North America and Europetogether accounted for over 3/4th of the market revenue in 2013 and is projected to be most lucrative regional market. However, technological adoption and emphasis on research of these medicines is accelerating in Japan and South Korea. This would lead to a substantial contribution to the field of regenerative medicines from these countries during the forecast period. Therefore, Asia-Pacific would be the fastest growing region for regenerative medicine market.
The report expounds on the strategies fostered by the prominent players in the market. The companies profiled in the report have adopted approval as their primary strategy. The companies evaluated in the report are Shire pharmaceuticals, Advanced Cell Technology, Genzyme, Athersys Inc., Kinetic Concepts, Inc., NuVasive, Stem Cells, Inc., Cytori Therapeutics, Inc., Cytomedix, Inc. and Mesoblast Ltd.