Albany, NY -- (SBWire) -- 11/12/2018 --A large pool of elderly worldwide and the rising instances of external and internal injuries has led to increasing uptake of regenerative medicine (bone and joint) – a relatively new concept which promotes the human body's natural capacity to heal. Another factor that has served to boost the market is the technological progress in biomaterials. Despite such tailwinds, however, the market is yet to reach its full potential owing to regulatory constraints, complications and infections, and other ethical concerns.

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The market at present is in a nascent stage, and hence has a strong potential to grow in the near future. Hence, many aspiring players are entering the fray and are upping the ante against their well-entrenched counterparts with more effective products. This is also expected to heat up competition in the market for regenerative medicine (bone and joint) which at present is fragmented. According to a report by Transparency Market Research, the market is predicted to attain a value of US$6.5 bn by 2019.

The global market for regenerative medicine (bone and joint) can be segmented on the basis of technology into biomaterials, stem cell therapy, and tissue engineering. Of them, the stem cell technology holds out maximum potential in the market at present. It is a bio-based alternative that is gaining traction in spite of the swift development of synthetic options. This is because of the high generative capacity of the stem cells that brings about production of other cells in the body. Not just in bone and joint disorders, regenerative medicine also finds usage in treating retinal diseases, cancer, diabetes, Alzheimer's, rheumatoid arthritis, cerebral palsy, autism spectrum, and others.

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Going forward, stem cells are predicted to play a crucial role in regenerative medicine which serves to treat the primary cause of the ailment, instead of the symptoms unlike other medicines. Many breakthroughs have already been reported in this direction. However, despite all the progress in the domain of stem cell therapy, the segment of biomaterials accounts for a leading share at present and going forward too is expected to hold onto it.

From a geographical standpoint, North America dominates the global market for regenerative medicine (bone and joint) owing to the extensive cutting-edge research and development being carried out in the U.S. mainly. This is primarily due to the large allocations by both government and private players. Another reason for the North America market dominating is the large elderly population in the region who are highly susceptible to bone and joint issues and the high medical spends of the overall population.

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Asia Pacific is another attractive region in the market for regenerative medicine (bone and joint). Numerous factors such as a strengthening healthcare infrastructure, a large patient pool because of a large population, surging awareness about regenerative medicines, and increasing ability of people to spend on better treatments are playing a key role in promoting the market in the region. Japan is one of the main markets in the region owing to fewer regulatory restraints, coupled with technological advancements in the area of regenerative medicine.

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