The global regenerative medicines market is anticipated to grow at a compound annual growth rate of 23.7 percent between 2016 and 2021, based on a MarketsandMarkets report, according to WhaTech.
Here are six observations:
1. The market is expected to hit $49.41 billion by 2021.
2. More regenerative medicine research in orthopedic spine and dermatology is driving market growth.
3. Pharmaceutical and biotechnology company investments in regenerative medicines, such as cells therapies and immunotherapy, is also spurring market growth.
4. North America dominates the global market, due to the rising number of organ transplantations and increasing research into the use of regenerative medicine in orthopedic musculoskeletal spine, oncology and cardiovascular diseases.
5. A lack of experienced professionals in the field and required hefty investments serve as obstacles to market growth.
6. Celgene, Acelity, StemCells and Organogenesis lead the space.