Rising prevalence of chronic diseases and genetic disorders are the major factors driving the Regenerative Medicine Market growth.
Further, increase in numbers of clinical trials, regenerative medicine adoption, and the outline of new platforms and innovations to positively impact the market value.
Regenerative medicine often involves same-day, nonsurgical procedures to treat common injuries or degenerative joint conditions in order to prevent a major surgery.
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In addition, increase in acceptance of sedentary lifestyles, evolving dietary patterns and involvement of many people with substantial CVD risk factors to increase the market demand.
Moreover, investments by venture capital firms, major drug manufacturers to accelerate the therapy productions and push the demand for regenerative medicine market growth over the forecast period 2020-2026.
Accordingly, growing acceptance of regenerative medicine in organ transplants is considered a major market player potential field.
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Due to the rising research activities in the field of regenerative medicine, advances in CAR-T cell therapies and increasing awareness of personalized medicine resulting in the establishment of stem cell banking and tissue engineering, North America accounts for the significant market share.
Approximately 163 million Americans suffer from chronic pain, according to a recent Harris Poll commissioned by the American Osteopathic Association.
Throughout the United States, more than 90,000 regenerative medicine procedures have been performed, and that number is set to increase exponentially as more insurance companies cover the processes.
Two types of regenerative medicine that are most widely used are platelet-rich plasma therapy and stem cell therapy to use blood platelets in a patient's blood drain plasma and to use the patient's own stem cells to inject them into the affected areas.
Fund supplies as well as increasing government and private-sector programs lead to the highest US revenue production. For example, recently U.S. Department of Health and Human Services recognizes regenerative medicine at the forefront of healthcare
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Strategic approaches, novel developments by the key players to boost the market growth. For example, the Alliance for Regenerative Medicine (ARM) to hosts a webinar on clinical trial guidance in April 2020 for the COVID-19 pandemic.
Further, Tessa Therapeutics to launch first CAR-T therapy for Hodgkin's lymphoma (HL) and is the first CAR-T therapy to receive the Food and Drug Administration (FDA) regenerative medicine advanced therapy (RMAT) designation.
Also, Celltex partnerships along with Texas A&M University Institute for regenerative medicine and to launch a program to use mesenchymal stem cells for COVID-19-related symptoms.
In addition, Regemat3D launched a new service to produce bioreactors for maturing tissues to fulfill unique research requirements and offer customized solutions for patients’ needs.
Moreover, Regenerative medicine company Mesoblast is evaluating the use of its drug Remestemcel-L as a possible treatment for severe forms of COVID-19, also it is currently working with agencies in the U.S., Australia and others to begin clinical trials.
Market players participating in regenerative medicine market include Integra LifeSciences Corporation, MiMedx Group, Inc., AstraZeneca; F. Hoffmann-La Roche Ltd, Merck & Co., Inc., Pfizer Inc., and Baxter among others.