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Regenerative Medicine Market is Expected to Grow at a CAGR of 12.7%
The global regenerative medicine market reached a value of nearly $7,282.2 million in 2020, having increased at a compound annual growth rate (CAGR) of 54.1% since 2015. The market is expected to grow from $7,282.2 million in 2020 to $22,373.7 million in 2025 at a rate of 25.2%. The market is then expected to grow at a CAGR of 12.7% from 2025 and reach $40,710.1 million in 2030.
Growth in the historic period in the regenerative medicine market resulted from rising prevalence of chronic diseases, emerging markets growth, implementation of the 21st century cures act, rapid growth in aging population, and the improvement in healthcare awareness and expenditure.
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Major players in the market are Smith & Nephew plc, Integra LifeSciences, Stryker Corporation, MiMedx Group, Inc., Zimmer Biomet Holdings Inc., B. Braun Melsungen AG, AbbVie, CONMED Corporation, Arthrex Inc., Baxter International Inc. and other players.
The regenerative medicine market is segmented by product into cell based, gene based and tissue based. Going forward, the gene based segment is expected to be the fastest growing segment in the regenerative medicine market segmented by product, at a CAGR of 30.8% during 2020-2025.
The regenerative medicine market is also segmented by application into musculoskeletal, oncology, dental, wound care and others. Going forward, musculoskeletal segment is expected to be the fastest growing segment in the regenerative medicine market segmented by application, at a CAGR of 27.4% during 2020-2025.
North America was the largest region in the regenerative medicine market, accounting for 53.3% of the total in 2020. Going forward, the fastest-growing regions in the regenerative medicine market will be Middle East and South America where growth will be at CAGRs of 72.4% and 71.9% respectively during 2020-2025.
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