According to a new market research report published by Transparency Market Research, the regenerative medicine (bone and joint) market was valued at $2.6 billion in 2012 and is estimated to reach a market worth of $6.5 billion by 2019. That is a growth rate of 12.8% from 2013 to 2019.
Regenerative Medicine Market on Growth Spurt
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Regenerative medicine is defined as an emerging field of medical science that aims to regenerate, repair or replace damaged tissue and organs. The U.S. National Institute of Health has stated that regenerative medicine is the process of creating functional tissue to repair and replace tissue or organs, which have lost their function due to damage, congenital defects, disease and age.
Two major circumstances appear to be driving the market. One is the technological advancement in tissue engineering and stem cell therapy. The second is the growing prevalence of bone and joint problems and the large numbers of people suffering from arthritis disorders.
The global market for regenerative medicine is segmented, based on technology, into three groups—stem cell therapy, biomaterials and tissue engineering. In 2012, the biomaterials segment accounted for the largest market share in the global bone and joint market owing to favorable reimbursement policies and the strong demand for biomaterials in the global market.
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. North America accounted for the largest market share for regenerative medicine globally in 2012 owing to the increase in orthopedic reconstructive surgeries and the introduction of technologically advanced medical devices and products. In 1990 approximately 129, 000 total knee arthroplasty (TKA) surgeries were performed in the U.S. Europe accounted for the second largest share in the global regenerative medicine market in 2012.
According to the American Academy of Orthopedic Surgeons, the prevalence of Lumbar Spinal Stenosis (LSS) is increasing with the rise of the elderly population. The report estimates that approximately 2.4 million Americans will be affected by LSS by 2021.
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This is a fascinating development. In my practice we've seen similar outcomes with the revised protocol. The key differentiator seems to be patient selection criteria. Has anyone else noticed the correlation with BMI thresholds?
Great point. I'd push back slightly on the conclusion, the sample size in the cited study is too small to draw population-level inferences. That said, the directional signal is compelling and worth a larger RCT.
We implemented a similar approach last year. Early results are promising but we're still gathering 12-month follow-up data. Happy to share our protocol if anyone is interested.
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