The global regenerative medicine market is expected to reach $49.41 billion by 2021, according to a MarketsandMarkets report.
Here are eight points:
1. The market is anticipated to grow at a compound annual growth rate of 23.7 percent between 2016 and 2021.
2. More regenerative medicine research in orthopedic musculoskeletal spine and dermatology will grow the market.
3. Pharmaceutical and biotechnology company investments in regenerative medicines will also spur market growth, especially in cell therapies and immunotherapy.
4. North America dominates the global market, with the United States accounting for the highest market share.
5. Europe follows close behind North America in terms of market share, with Germany dominating.
6. Hefty investments and limited experienced professionals in the regenerative medicine field will hinder market growth.
7. Companies in the space are creating cell-based therapies, biologics, tissue-engineered cells and materials and implantable devices.
8. Celgene, Acelity, StemCells and Organogenesis lead the regenerative medicine market.