Growth in Sales of Products in Cell Therapy and Tissue Engineering
Tissue engineering and cell therapy comprise a market for regenerative products that has been growing and will continue to grow at over 20% annually through 2018. This market spans many specialties, the biggest of which is therapies for degenerative and traumatic orthopedic and spine applications. Other disorders that will benefit from cell therapies include cardiac and vascular disease, a wide range of neurological disorders, diabetes, inflammatory diseases, and dental decay and/or injury. Key factors expected to influence the market for regenerative medicine are continued political actions, government funding, clinical trials results, industry investments, and an increasing awareness among both physicians and the general public of the accessibility of cell therapies for medical applications.
The current high rate of growth in cell therapy and tissue engineering product sales is due to the confluence of multiple market drivers:
- Advances in basic science revealing the nature of cell growth, differentiation and proliferation
- Advances by industry to manipulate and determine cell growth toward specific therapeutic solutions
- Low barrier to entry for competitors in the market
- Broad range of applications of cell/tissue advances to many different specialties with modest adaptation needed
- Strong venture funding