The Europe regenerative medicines market is set to grow at a 21.8 percent compound annual growth rate through 2021, based on a Market Data Forecast, according to medGadget.
Here are five key points:
1. The market was valued at $5.06 billion in 2016, and is set to grow to $13.56 billion by 2021.
2. A growing aging population and increasing research and development advancements will spur market growth, among other factors.
3. Evolving regulatory guidelines and ethical laws regarding tissue and cell-based products serve as barriers to market growth.
4. In 2016, the orthopedic and musculoskeletal spine segment captured the largest share of the Europe regenerative medicines market.
5. Dominant market players include Vertex Pharmaceuticals, Acelity, Celgene Corp., StemCells, Organogenesis, NuVasive, Vericel Corp., Japan Tissue Engineering Co., Cytori Therapeutics, Advantagene and Mesoblast.