Regenerative Medicine Market will Increase at a CAGR of 11.1% during 2015-2019
In 2015, North America accounted for the largest revenue share of global regenerative medicine (bone & joints) market, representing a market value of US$ 2,039.8 Mn.
Long-term Outlook: The global regenerative medicine market (bone and joints) is anticipated to increase at a CAGR of 11.1% during the forecast period from 2015 to 2019.
Owing to increasing demand for bone and joint reconstructive surgeries and encouraging government initiatives, North America is expected to remain the largest market for regenerative medicine (bone and joint) in 2016.
By technology, biomaterials segment accounts for the highest market share globally, owing to favorable reimbursement policies and strong demand for biomaterials.
Apart from biomaterials, tissue engineering is the other segment which is quickly gaining traction among end-users, and is projected to witness the highest year-over-year growth among all the technology segments. On the basis of application, bone graft substitute holds the highest share of the market in terms of value owing to a robust demand of bone graft substitute in orthopaedic treatments.