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(Medical-NewsWire.com, August 23, 2017 ) Middle East and Africa regenerative medicines market is expected to reach USD 5.75 billion by 2021 from USD 2.03 billion in 2016, growing at a CAGR of 23.15% during the forecast period 2016-2021.
Regenerative medicines repair, replace or regenerate human cells, tissues, or organs affected due to injury, disease, aging processes, congenital defects, and damage due to trauma. These Regenerative medicine Market restore normal functions of cells & tissues. These medicines are available in different types such as genes, somatic cells, stem cells, and other types. Some of these medicines (such as stem cells) have the ability to proliferate, differentiate thereby restore the original structure of cells or tissues or organs.
Regenerative medicines are used in varied range of degenerative disorders include cardiovascular, neurodegenerative diseases, dermatology, and orthopedic, among others. Majority of the researchers aim to focus on the development of innovative technologies to provide better regenerative medicines and effective healthcare treatment solutions to patients.
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Increasing demand for improved healthcare solutions, rising funding from public & private organizations for the development of advanced healthcare solutions, and government initiatives to promote the development of regenerative medicine products are driving the growth of regenerative medicines market in the Middle East and Africa. However, inadequate number of healthcare professionals, insufficient healthcare infrastructure, and low adoption of regenerative medicine products due to poor economic status are some of the factors restraining the growth of regenerative medicines market in the Middle East and Africa.
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Middle East and Africa regenerative medicines market is segmented based on product, therapy, and application. Based on product, the market is further sub-segmented as cell-based products and acellular products. Of these, cell-based products segment is estimated to account for larger share of Middle East and Africa regenerative medicines market by product in 2016. Further, Cell-based products segment is classified as autologous and allogeneic products. Based on therapy, the market is segmented as cell therapy, gene therapy, tissue engineering, and immunotherapy. Of these, cell therapy is estimated to command the highest share of the Middle East and Africa regenerative medicines market by therapy in 2016.
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Based on application, the market is segmented as orthopedic & musculoskeletal spine, dermatology, central nervous system, cardiovascular, oncology, diabetes, and other applications. Among these, orthopedic & musculoskeletal spine is estimated to command the largest share of the Middle East and Africa regenerative medicines market by application in 2016.
On the basis of geographical areas, Middle East and Africa regenerative medicines market is segmented as Middle East and South Africa.
The key players in regenerative medicines market such as, Vertex Pharmaceuticals Incorporated (U.S.), Acelity L.P. Inc. (U.S.), Celgene Corporation (U.S.), StemCells, Inc. (U.S.), Organogenesis Inc. (U.S.), NuVasive, Inc. (U.S.), Vericel Corporation (Genzyme) (U.S.), Japan Tissue Engineering Co., Ltd. (Japan), Cytori Therapeutics Inc. (U.S.), Advantagene, Inc. (U.S.), and Mesoblast Ltd. (Australia).
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