The global regenerative medicine (bone and joint) market has been anticipated in a report by Transparency Market Research (TMR) to create worthwhile prospects with the entry of new players. The analysts authoring the report have recognized some players to lead the market, such as Medtronic, Inc., Zimmer Holdings, Inc., Stryker Corporation, and DePuy Synthes, Inc. Players have been advised to keep a close watch on the nature of the vendor landscape, which is predicted to be significantly competitive. Leading entities have been observed to invest heavily in the innovation of novel regenerative therapies to fulfill unmet medical needs and secure the untapped potential of the market.
By the completion of 2019, TMR has prognosticated the global regenerative medicine (bone and joint) market to take home a revenue of US$6.5 bn. If the segmentation of the market on the basis of technology is concerned, there could be three chief segments that players need to focus on. However, the biomaterials segment in particular has gained a whole lot of limelight since it has been prophesied to dominate in the coming years. In terms of regional segmentation, there have been a few markets mentioned in the report, but one region that has been projected to stand out is North America.
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Technological Innovations in Biomaterials Invite Greater Demand
The world regenerative medicine (bone and joint) market has been on the charge in the recent years, and more so has been expected to make tremendous profits in the near future on the back of a few positive factors. Regenerative medicine could welcome a strong demand in a time where we have been witnessing a rising count of orthopedic surgeries and the aggressive prevalence of joint disorders. What is interesting to know is that technological advancements in biomaterials have had a great impact on the growth of the market, mainly on the positive side.
Regenerative medicine plays an important part in replacing or repairing organs and tissues that have lost their functioning ability. People often damage their organs or tissues due to internal or external injury, age, and congenital effects. Regenerative medicine is not only aimed at the replacement or repair of damaged organs and tissues but also their regeneration. Some of areas where it could be used are musculoskeletal, orthopedic, cardiovascular, and neurological disorders. Although it is considered to be one of the emerging fields of medical science, players could tap into a strong potential of the world regenerative medicine (bone and joint) market.
Post-implantation Complications and Infections Discourage Adoption
Players looking to make business in the international regenerative medicine (bone and joint) market have been cautioned by TMR analysts to take notice of regulatory constraints, consequences of post-implantation complications and infections, and ethical issues. However, while these factors could hamper market growth, players have been raking in a decent market share because of the use of powerful business strategies. Besides exploring the untapped potential of the market, players have been taking to partnerships, mergers and acquisitions, and other strategies to demonstrate their command over the market.
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The robust demand for biomaterials and promising reimbursement policies have been at the forefront of the crucial factors augmenting the growth of the international regenerative medicine (bone and joint) market. You could even tell favorable growth prospects birthing with the increase in aging population in Europe and growing number of joint and bone reconstructive surgeries in North America.