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GIA announces the release of a comprehensive global report on Regenerative Medicine markets. Global market for Regenerative Medicine for Bone and Joint Applications is projected to exceed US$7.9 billion by 2020, driven by aging population and the ensuing rise in bone diseases, growing awareness over the effectiveness of regenerative medicines, and increasing use of non-autograft products by orthopedic physicians.
San Jose, California (PRWEB) July 03, 2014
Follow us on LinkedIn Regenerative medicine is an emerging multidisciplinary field involving research as well as clinical applications intended to repair, replace, and regenerate cells, tissues as well as organs for restoring or establishing normal function. Regeneration technologies promise innovative solutions for a number of medical conditions resulting from age, damage, congenital defects or diseases. One of the notable areas exhibiting rapid acceptance is orthopedics. Regenerative medicine in this field of healthcare promises significant benefits in the treatment of disabling orthopedic disorders. Current therapeutic strategies for repair and regeneration of bone involve the use of various types of graft materials such as autogenous bone, allogeneic bone, demineralised bone matrices, and a wide variety of synthetic biomaterials such as ceramics, metals, composites and polymers.
Market for bone grafts and bone graft substitutes is expected to witness healthy growth in the coming years, supported by aging population, increasing prevalence of arthritic conditions such as osteoporosis and osteoarthritis, growing number of orthopedic surgeries, advances in bone graft materials, and development of innovative products. Autograft is considered to be an ideal bone graft procedure as it includes properties such as osteoconductivity, osteoinductivity and osteogenicity that assist in bone formation. As an alternative, allogenic bone grafts or allografts are widely employed, as they eliminate the need for an additional harvesting procedure. Allografts and autografts account for a major share of bone graft procedures performed worldwide. However, challenges related to procurement of cells along with the difficulty in harvesting sufficient quantity of cells has culminated in the increasing use of synthetic bone graft substitutes as well as resorbables. Synthetic bone grafts are increasingly being used in bone graft procedures as they are as effective as autografts without the pain and inconvenience associated with the traditional graft procedures.
As stated by the new market research report on Regenerative Medicine, the United States represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market with a CAGR of 9.8% over the analysis period. With relatively higher economic growth than developed economies, emerging countries in Asia-Pacific are optimally positioned to drive global growth in the regenerative medicine market. China and India in particular, are witnessing rapid growth supported by increased government spending on healthcare programs and favorable economic climate. Bone Replacements represents the largest product market with growth supported by rising incidence of degenerative intervertebral disc diseases, high prevalence of arthritis and other orthopedic disorders and increase in spinal fusions in private healthcare. Tissue Replacements ranks as the fastest growing application sector for regenerative medicine in bone and joint applications.
Major players covered in the report include AlloSource, Anika Therapeutics Inc., Biomet Inc., DePuy Synthes Companies, Exactech Inc., Histogenics Corp., Integra LifeSciences Holdings Corp, LifeCell Corp Medtronic, NovaBone Products LLC, NuVasive Inc., Orthofix International N.V., Smith & Nephew Plc, Stryker Corp., Wright Medical Technology Inc., and Zimmer Holdings Inc. among others.
The research report titled "Regenerative Medicine: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, drivers, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections for geographic markets including the US, Japan, Europe, Asia-Pacific and Rest of World. The report also analyzes the global market for regenerative medicine for bone and joint applications by segments such as Bone Replacements, Bone Simulators and Tissue Replacements.
For more details about this comprehensive market research report, please visit -http://www.strategyr.com/Regenerative_Medicine_Market_Report.asp.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
Web Site: http://www.StrategyR.com/
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