Europe regenerative medicines market is expected to reach USD 13.56 billion by 2021 from USD 5.06 billion in 2016, growing at a CAGR of 21.80% during the forecast period 2016-2021.
Hyderabad, India -- (SBWIRE) -- 03/02/2018 -- Regenerative medicines have the capacity to repair, replace, and regenerate tissues and organs affected because of injury, disease, or natural ageing process. These medicines are also capable of restoring the functioning ability of cells & tissues and so are applicable in an exceedingly wide range of chronic disorders like dermatology and cardiovascular applications. Researchers concentrate on developing technologies based on biologics, genes, somatic as well as stem cells.
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Europe regenerative medicines market is predicted to approach USD 13.56 billion by 2021 from USD 5.06 billion in 2016, growing at a CAGR of 21.80%. The use of Nano-materials in wound care, drug delivery, and immunomodulation creates growth opportunities for the regenerative medicines market.
The major factors promoting the market growth are increasing prevalence of chronic diseases and trauma emergencies, technological advancements in tissue and organ regeneration, outstanding potential of nanotechnology, and the emergence of stem cell technology.
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Additionally, increasing incidence of chronic diseases and lack of organs for transplantation are also expected to fuel the expansion of the market. Moreover, utilization of nanomaterials in immunomodulation, drug delivery, and wound care has opened growth avenues for the regenerative medicines market in Europe.
Active participation by key corporations is witnessed through strategic collaborations with academic institutes, government organizations, and major pharmaceutical & biotechnology firms. These initiatives are projected to create important contributions in Europe market enlargement. High investments by government and private organizations that support R&D, also encourage market progress. Initiatives by government organizations to support stem cell and regenerative medicine research by providing funds and infrastructure facilities alongside initiating numerous programs is predicted to influence growth.
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By geography the market is segmented into UK, Spain, Germany, France and other countries. Due to the ongoing modernization in pharmaceutical industry in the developing countries of the region, the Europe market is projected to have a tremendous growth rate.
The top companies in the current market are Vertex Pharmaceuticals Incorporated, Acelity L.P. Inc., Celgene Corporation, StemCells Inc., Organogenesis Inc., NuVasive Inc. and Vericel Corporation (Genzyme).
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