The key factors propelling the growth of the regenerative medicines market are the increasing adoption of stem-cell technologies, gene therapies, and tissue engineering, and the technological advancements in regenerative medicines.
Stem-cell technology is a rapidly developing technology that plays a major role in regenerative medicines, as it also serves the disciplines of tissue engineering, developmental cell biology, cellular therapeutics, gene therapy, chemical biology, and nanotechnology. The applications of stem-cell technologies in the treatment of diseases have ultimately increased the overall adoption rate of these technologies across the world.
The market is experiencing major technological advancements in biologics, biomaterials, stem-cell technology, and tissue engineering, thereby, contributing to its growth. There have also been various recent advancements in regenerative medicines, including regenerated tracheas for transplant, 3D bioprinting, stem-cell treatments for vision loss, and stem-cell treatments for heart repair.
The current market is also witnessing extensive R&D activities. Apart from R&D activities being conducted by the private players, there is a significant involvement of the academic institutions, for conducting various research processes. Therefore, in the future, several new biotech and medtech companies are expected to come up, as the result of the current R&D endeavors across the world.
Key Market Trends
Cardiovascular Application is Expected to Cover a Large Share of the Market
Cardiac stem-cell therapy has a great potential to prompt myocardial regeneration in patients with ischemic heart disease. The selection of the most suitable cell type is pivotal for its successful application. Various cell types, including crude bone marrow mononuclear cells, skeletal myoblast, and hematopoietic and endothelial progenitors, have already advanced into the clinical arena, based on promising results from different experimental and preclinical studies. Different next-generation cell types are also under investigation, for the treatment of diseased myocardium.
As per the European Cardiovascular Disease's 2017 statistics, published by the European Heart Network, over the past two decades, the absolute number of CVD cases has increased in Europe, with increases in the number of new CVD cases found in most countries. In 1990, the incidence of CVD was approximately 4.7 million and this number has increased to more than 5.4 million by 2015. As the incidence of CVD increases in Europe, the demand for cardiac regenerative techniques in applications like cardiac stem (CSCs) and progenitor cells (CPCs) are also expected to increase. This is expected to help the market to grow in the future.
The European market is competitive, due to the presence of almost all the global players. Many of these global players have their headquarters in the European countries, which increases the accessibility of regenerative medicines throughout the continent.
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