The US regenerative medicine market has been forecast to increase at a compound annual growth rate (CAGR) of 15.83% through to 2016, driven by the increasing number of degenerative diseases, and the increasing number of mergers and acquisitions.
Alzheimer's, Parkinson's, Multiple Sclerosis and many other degenerative diseases are on the rise in the United States, leading to a huge demand for effective ways to treat these illnesses -- a niche that the healthcare industry presently lacks.
Regenerative medicine is an interdisciplinary field which deals with tissue engineering and cell therapy for replacement or regeneration of human cells/tissue/organ function that may have been damaged due to age, disease, trauma or congenital defects.
The research in stem cells (embryonic and adult stem cells) has enabled the applications of regenerative medicine in dentistry, dermatology, neurology and orthopedics.
The introduction of artificial organs for implantation is expected to encourage many vendors and research organisations to develop advanced stem cell products, therapies, and regenerative products. It will also help reduce the long organ waiting list.
For instance, a custom-made windpipe can be made using regenerative products within a week. The first ever implant of a synthetic trachea took place in June 2011. The synthetic trachea was made from minuscule plastic fibres and was covered in stem cells taken from a human bone marrow. Surgeons successfully implanted this synthetic trachea into a 36-year-old patient with late-stage tracheal cancer at Karolinska University Hospital in Stockholm.
The stringent regulatory approval process for regenerative products is one of the major challenges faced by the market. The stringent approval processes inhibits the entry of new products into the market.
Key players currently dominating US regenerative medicine market include Baxter International Inc., Medtronic Inc., Stryker Corp., and Zimmer Holdings Inc.
All of these players have potentially game changing treatment options in late development stages, and though many of them are still awaiting final FDA approval, consumer demand is already peaking.
For instance, Zimmer Holdings Inc. introduced Zimmer Chondrofix Osteochondral Allograftfor the repair of osteochondral lesions in February 2012. Even after little more than a year since its release, this regenerative medicine form is witnessing significant growth in sales.
Other pipeline projects include Stryker Corp's attempt to use stem cell technology in cartilage regeneration, as well as a bone graft substitute developed by Baxter International Inc.
For more information on the US regenerative medicine market, see the latest research: US Regenerative Medicine Market
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