The size of the North America regenerative medicine market is forecasted to be growing at a CAGR of 20.5% from 2023 to 2028 and worth USD 19.83 billion by 2028 from USD 7.80 billion in 2023.
A few of the key drivers that are boosting the growth of the North America regenerative medicine market are rising incidence of bone and joint diseases, growing awareness among the population, the emergence of advanced technologies in tissue engineering and stem cell therapy, rise in demand for regenerative medicines in the treatment of chronic diseases, cancer, and orthopedic disorders, enhancements in nanotechnology, and rise in adoption of CAR-T cell therapies.
The North America Regenerative medicine market is further expected to expand at a high pace owing to significant growth opportunities such as increased efforts of researchers to develop regenerative medicines due to unavailability of organs for transplantation, increasing investments in R & D for developing innovative products, significant competitors and research institutes of the market are likely to release a wide range of products in gene therapy and stem cells during the forecast period, potential risks like organ damage or failed functionality that are involved in transplanting organs traditionally, is leading to rising in acceptance of regenerative medicine for transplanting organs.
The factors that diminish the growth of the North America regenerative medicine market are side effects associated with implantation, stringent rules for using human tissues, treatment is costly, growing adoption of cell-based products like stem cells, regulations, and policies on regenerative medicines.
This research report on the North American regenerative medicine market has been segmented and sub-segmented into the following categories:
Based on the region, the North America regenerative medicine market is predicted to dominate the global market by contributing the largest share of revenue owing to market catalyzing factors such as growing awareness of personalized medicine and the emergence of CAR-T cell therapies, increase in investments for developing innovative regenerative drugs, the United States contributes significant share among all of the North American countries owing to the presence of notable market players and research institutes that are developing innovative techniques and availability of high-end technology. In contrast, the Canadian regenerative medicine market is estimated to grow at a higher CAGR during the forecast period.
KEY MARKET PLAYERS:
A few of the promising companies operating in the North American Regenerative Medicines Market profiled in this report are Vertex Pharmaceuticals Incorporated, Acelity L.P. Inc., Celgene Corporation, StemCells, Inc., Organogenesis Inc., NuVasive, Inc., Vericel Corporation (Genzyme), Japan Tissue Engineering Co., Ltd., Cytori Therapeutics Inc., Advantagene, Inc. and Mesoblast Ltd.
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