November 3, 2024
regenerative medicine (bone and joint) Market

The Future of Joint Repair with Regenerative Medicine is in Trends by Rising Cases of Orthopedic Diseases

The regenerative medicine (bone and joint) market deals with products associated with repairing and regenerating damaged tissues and organs. These products involve stem cell therapy, tissue engineering, biomaterial implants, and gene therapy that help improve the healing process. Regenerative medicines are commonly used for repairing bone and cartilage damage, spinal injuries, damaged tendons and ligaments. With breakthroughs in tissue engineering and biomaterial research, regenerative medicine allows the body to repair itself instead of traditional methods like joint replacement surgeries. Significant advances have been made in the development of bioengineered skin, bone, cartilage, blood vessels, and other tissues for surgical reconstruction.

The Global regenerative medicine (bone and joint) Market is estimated to be valued at US$ 10494.33 Mn in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024 To 2031.

Key Takeaways

Regenerative Medicine (Bone And Joint) Market Companies are Anika Therapeutics, Inc, Arthrex, Inc., Baxter International, Inc., CONMED Corporation, Johnson Johnson, Medtronic, Plc, Smith Nephew plc, Stryker Corporation, Zimmer Holdings, Inc., Aziyo Biologics, and Ortho Regenerative Technologies Inc. These players are involved in various activities such as product launches, collaborations, and acquisitions to strengthen their market position. For instance, in 2022, Anthropic acquired Ortho Regenerative Technologies to expand its regenerative medicine portfolio.

The growing prevalence of orthopedic diseases and injuries is fueling the demand for regenerative medicine (bone and joint) products. According to the Arthritis Foundation, over 54 million adults and 0.3 million children suffer from doctor-diagnosed arthritis in the US. Sports injuries, road accidents, aging populations are major causes of orthopedic disorders globally. Regenerative medicine offers minimally invasive treatments for repairing musculoskeletal tissues.

The regenerative medicine (bone and joint) market is expanding globally with rising awareness and research activities. Countries like the US, Germany, UK, China, and Japan are major hubs of clinical research and commercialization of regenerative therapies. Developing nations are also increasingly adopting advanced treatments. The demand is expected to surge further with growing global geriatric population.

Market Key Trends

Stem cell therapy is a key trend gaining prominence in the Regenerative Medicine (Bone And Joint) Market Share. Mesenchymal stem cells obtained from bone marrow, adipose tissue, or other sources have shown high potential to treat orthopedic conditions by Differentiating into bone, cartilage, tendon, or ligament cells. Ongoing clinical studies are evaluating the safety and efficacy of stem cell therapies for regenerating tissues in knee cartilage defects, non-union fractures, and spinal disc degeneration. Stem cell therapy as a promising alternative to surgeries could disrupt the field of orthopedics in the coming years.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate as the R&D required to develop new drugs and bring them to the market is huge requiring large investment and specialized production infrastructure limiting new players.

Bargaining power of buyers: The bargaining power of buyers is moderate as there are a number of established suppliers in the market and switching costs are relatively lower for buyers.

Bargaining power of suppliers: The bargaining power of suppliers is low as there a large number of suppliers for raw materials and components required for regenerative medicine making a supplier indispensable is difficult.

Threat of new substitutes: The threat of new substitutes is low as regenerative medicine provides unique advantages over traditional treatments making substitution difficult.

Competitive rivalry: The competitive rivalry is high among existing players due to presence of large number of companies offering substitutable products.

Geographical regions: North America presently holds the major share of the regenerative medicines market accounting for over 40% of global sales, supported by advanced healthcare infrastructure and high healthcare spending.

The Asia Pacific region is expected to witness the fastest growth over the forecast period due to rising healthcare investments, lower manufacturing and clinical trial costs attracting outsourcing and increasing incidence of orthopedic and musculoskeletal disorders with aging population.

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*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh
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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. 

Money Singh

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. 

View all posts by Money Singh →