The major factors boosting the market growth include technological advancements in tissue and organ regeneration, increasing prevalence of chronic diseases and trauma emergencies, a prominent potential of nanotechnology, and the emergence of stem cell technology. Moreover, the utilization of nanomaterials in wound care, drug delivery, and immunomodulation has opened growth avenues for the regenerative medicine market.
However, stringent regulations, operational inefficiency, and the high cost of regenerative medicine treatment are the key factors affecting market growth. Furthermore, advancements in stem cell technology and achieving core competency in the emerging economies are expected to fuel the market growth. Developed nations have adopted technological advancements in tissue engineering and regenerative medicine sectors, which would aid the expansion of the global market.
The cell therapy segment accounted for a significant share of about three-fifths the overall regenerative medicine market in 2016 due to the widespread adoption of cell therapy for treatment of several diseases such as musculoskeletal, cardiovascular, oncology, wound healing, and others. Small molecules and biologics have emerged as the fastest growing segment during the forecast period as these biologics are classic active substances delivering a better overall economic return. These molecules have revolutionized the treatment of specific diseases such as musculoskeletal diseases, cancer, rheumatoid arthritis, and non-healing wounds.
Musculoskeletal and wound healing segment accounted for about three-fifths share of the application market in 2016. Cell therapies are used in the treatment of musculoskeletal diseases such as bone tissue replacement, cartilage, tendon, and ligament repair and replacement. In addition, osteoporosis is one of the most prevalent diseases that require tissue engineering therapies. More than 75 million people suffer from osteoporosis in Europe, the U.S., and Japan every year, which boosts the demand for regenerative medicines.