The global regenerative medicine market is forecasted to reach a market size of USD 23.57 Billion by 2027, and register a significantly rapid revenue growth rate, according to a new report by Reports and Data. The market for regenerative medicine is witnessing increased demand owing to the emergence of stem cell technology, increase in prevalence of chronic diseases, and advancements in surgical technologies. However, stringent regulations and high cost of treatment are factors expected to hamper growth of the market.
Untapped potential of nanotechnology is also contributing to market development. Nanotechnology is a powerful tool in regenerating tissues for recreating the nanoscale features. Nanotechnology is widely employed in the biomedical field to control the proliferation and preservation of stem cells.
Increased investment in research and development of regenerative medicines to combat growing genetic and chronic diseases is also contributing to the market revenue. Public as well as private organizations, are investing majorly in research to bring about new development in the field of regenerative medicine. Various strong pipeline projects by research institutes are expected to propel market growth over the near future.
The COVID-19 impact:
The market for regenerative medicine has witnessed increased demand during the COVID-19 pandemic. Research is being conducted to use regenerative medicine for the development of vaccines to combat COVID-19. Public and private companies are investing in research and development of regenerative medicine to help with the growing demand for advanced therapies to treat new complex diseases.
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Further key findings from the report suggest
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For the purpose of this report, Reports and Data has segmented the global regenerative medicine market on the basis of product, application, material, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
Material Outlook (Revenue, USD Billion; 2017-2027)
Regional Outlook (Revenue, USD Billion; 2017-2027)
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