According to a new market research report published by Transparency Market Research “Regenerative Medicine (Bone and Joint) Market (By Technology – Stem Cell Therapy, Biomaterial and Tissue Engineering; By Applications – Bone Graft Substitutes, Osteoarticular Diseases, Allogeneic Products, Autogenic Products and Others) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019” the global regenerative medicine (bone and joint) market was valued at USD 2.6 billion in 2012 and is estimated to reach a market worth of USD 6.5 billion in 2019 growing at a CAGR of 12.8% from 2013 to 2019.

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Regenerative medicine is considered as an emerging field of medical science that aims to regenerate, repair or replace damaged tissue and organs. U.S. National Institute of Health stated that regenerative medicine is the process of creating functional tissue to repair and replace tissue or organ which has lost their function due to damage, congenital defects, disease and age. Technological advancement in tissue engineering and stem cell therapy is expected to drive the global market for regenerative medicine (bone and joint). Moreover, growing prevalence of bone and joint disorder has also accounted for the market growth of the global regenerative medicine (bone and joint) market. However, ethical issues pertaining to stem cell therapy and fear of disease transmission due to allogeneic bone implantation are considered as market hindering factors during the study period. Companies operating in this market focus on investing in emerging economies of Asia-Pacific such as India, China, Japan and South Korea. These economies represent huge potential for various bone and joint reconstructive products due to rising healthcare expenditure and presence of large patient pool suffering from arthritis disorder (rheumatoid arthritis).

The global market for regenerative medicine is segmented based on technology as stem cell therapy, biomaterials and tissue engineering. In 2012, biomaterials segment accounted for the largest market share in the global regenerative medicine (bone and joint) market owing to favorable reimbursement policies and strong demand of biomaterials in the global market. However, high cost associated with biomaterials is a factor that would restrict the global market demand to some extent during the study period.

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In addition, based on applications the global market for regenerative medicine (bone and joint) is segmented as bone graft substitute, osteoarticular diseases, allogeneic bones, autogenic bones and others. In 2012, bone graft substitute segment accounted for the largest market share in the global regenerative medicine bone and joint application market owing to growing demand of bone graft substitute in orthopaedic surgeries. However, post implantation rejection associated with bone graft substitute is considered as a crucial factor that would restrict the global market demand of bone graft substitute.

On the basis of geography, the regenerative medicine (bone and joint) market is segmented as North America, Europe, Asia-Pacific and Rest of the World (RoW). North America accounted for the largest market share for regenerative medicine (bone and joint) globally in 2012 owing to increase in orthopedic reconstructive surgeries and introduction of technologically advanced medical devices and products. According to the American Academy of Orthopedic Surgeons (AAOS), prevalence of Lumbar Spinal Stenosis (LSS) is increasing with rise in elderly population and is estimated that approximately 2.4 million Americans would be affected by LSS by 2021. It has also stated that in 1990 approximately 129,000 Total Knee Arthroplasty (TKA) surgeries were performed in the U.S.

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Europe accounted for the second largest share in the global regenerative medicine (bone and joint) market in 2012. Large geriatric population base is one of the important factors driving the growth of regenerative medicine bone and joint application market in this region. Asia-Pacific is expected to grow at the highest CAGR from 2013 to 2019, due to large pool of potential reconstructive surgery patients and strong support from federal government. Additionally, companies are expecting large revenue with sufficient market penetration from Asia-Pacific region and thereby focusing on increasing investments in this region. For instance, in May 2013, Smith & Nephew acquired Sushrut Surgical Pvt. Ltd. an Indian medical technology company. Sushrut Surgicals product portfolio includes trauma implants and instruments, spine and limb salvage products. This acquisition would expand and enhance the product offerings of Smith & Nephew and would also assist in capturing lucrative market share in Asia-Pacific region.

Major market players having presence in the global regenerative medicine (bone and joint) market include DePuy Synthes, Inc. (HEALOS Bone Graft), Medtronic, Inc. (INFUSE Bone Graft) and Zimmer Holdings, Inc. (CopiOs Bone Void Filler), Orthofix, Inc. (Trinity Evolution) and NuVasive, Inc. (Osteocel Plus).

The global regenerative medicine (bone and joint) market is segmented as follows:

Regenerative Medicine (Bone and Joint) Market, by Technology
Stem Cell Therapy
Biomaterial
Tissue Engineering

Regenerative Medicine (Bone and Joint) Market, by Application
Bone Graft Substitutes
Osteoarticular Diseases
Allogeneic Bones
Autogenic Bones
Others

Regenerative Medicine (Bone and Joint) Market, by Geography
North America
Europe
Asia-Pacific
Rest of the World