Global Regenerative Medicine (Bone and Joint) Market, by Technology (Stem Cell, Biomaterial, and Tissue Engineering), by Application (Bone Graft Substitutes, Osteoarticular Diseases, Allogeneic Bones, Autogenic Bones, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 7,090.1 million in 2020 and is expected to exhibit a CAGR of 10.3% over the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.
Global regenerative medicine (Bone and Joint) market is expected to witness significant growth due to key companies focusing on product approvals and product launches. For instance, in 2017, Aziyo Biologics, Inc. launched its newest OsteGro and OsteGro V. The products are optimized to protect and preserve native bone cells through Aziyo’s proprietary process. The OsteGro V joins Aziyo’s viable bone matrix platform that targets and supports the bone repairing process.
Moreover, in September 2018, Anika Therapeutics, Inc, a global integrated orthopaedic medicines company, announced the U.S. commercial soft launch of TACTOSET, its injectable HA-enhanced bone repair therapy. TACTOSET has been developed for the treatment of bone voids and other bone defects of the skeletal system caused by trauma or age-related degeneration.
Global Regenerative Medicine (Bone and Joint) Market – Impact of Coronavirus (Covid-19)
- The COVID-19 pandemic has drastically affected each and every market around the globe and it is expected to affect the global regenerative medicine (Bone and Joint) market, which is as follows:
- There has been a negative impact on ongoing clinical trials on regenerative medicine (Bone and Joint) such as According to National Center for Biotechnology Information (NCBI), April 29, 2020, many clinical trials were suspended the trial enrolment, in order to minimize the risk of contracting COVID-19 and this has led to the delay in the activation of new clinical trials. Moreover, many companies have already missed the follow-up for the patients already in trials. Furthermore, travel restrictions, patient concerns of contracting coronavirus infection, and others are some of the factors responsible for the withdrawal of patients from the clinical trial.
- Moreover, governments are focusing on taking initiatives on conducting clinical trials of medical products during the COVID-19 public health emergency. According to the U.S. Food and Drug Administration (FDA) released guidelines on July 2020, stated that general considerations to assist sponsors and researchers, which ensure the safety of trial participants, compliance with good clinical practice (GCP), and minimize risks to trial integrity for the duration of the COVID-19 public health emergency. The appendix of the guidelines has also provided answers to some general questions, which the U.S. Food and Drug Administration (FDA) had received from various sponsors and researchers about conducting clinical trials during the COVID-19 public health emergency.
Browse 26 Market Data Tables and 25 Figures spread through 176 Pages and in-depth TOC on “Global Regenerative Medicine (Bone and Joint) Market, by Technology (Stem Cell, Biomaterial, and Tissue Engineering), by Application (Bone Graft Substitutes, Osteoarticular Diseases , Allogeneic Bones, Autogenic Bones, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa),’
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The global regenerative medicine (bone and joint) market is also expected to witness potential growth, owing to increasing focus on gene therapy for bone regeneration. For instance, the European Union’s Horizon 2020 research and innovation program launched cmRNAbone, a novel gene therapy for bone regeneration project in January 2020. The project aims to develop a novel bone regenerative therapy for trauma and osteoporosis patients. The researchers planned to develop chemically modified RNAs and a specific vector delivery system to be in a biomaterial formulation tailored to patients’ needs.
Key Takeaways of the Global Regenerative Medicine (Bone and Joint) Market:
- The global regenerative medicine (bone and joint) market is expected to exhibit a CAGR of 10.3% over the forecast period, owing to high prevalence of rheumatoid arthritis globally. For instance, according to results of a systematic analysis published in the Annals of the Rheumatic Diseases in October 2019, the global prevalence of rheumatoid arthritis was 19,965,115 in 2017, with an age-standardized prevalence rate of 246.6 cases/100,000 population, which increased by 7.4% between 1990 and 2017.
- Among technology, biomaterial segment is expected to hold a dominant position in the regenerative medicine (bone and joint) market in 2020, owing to increase product approvals by the key players. For instance, in 2018, Sanofi and Regeneron Pharmaceuticals, Inc. announced that the U.S. FDA accepted a supplemental Biologics License Application (sBLA) for Praluent (alirocumab) Injection, a PCSK9 inhibitor.
- Among application, bone graft substitutes segment is expected to hold dominant position in the regenerative medicine (bone and joint) market in 2020, owing to the increasing development and launches of innovative regenerative medicines products. For instance, on June 29, 2020, Aziyo Biologics, Inc., a regenerative medicine company, launched OsteGro V, a viable cell bone matrix, which is composed of cancellous bone particles, demineralized cortical bone particles, and fibers. The product helps in protecting and preserving the native bone cells in patients.
- Key players operating in the global regenerative medicine (Bone and Joint) market include 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