Regenerative medicine has the potential to replace or heal tissues as well as organs damaged by age, disease, or trauma, as well as to normalize congenital defects. Over the last quarter of a century, there has been an emergence of a tissue engineering industry, one that has now evolved into the broader area of regenerative medicine. Regenerative medicine is defined as a rapidly growing interdisciplinary field that involves engineering sciences to develop clinical therapies intended for maintenance, repair, replacement and enhancement of biological function.
The growth in North America is characterized by characterized by increasing prevalence of cancer across the region, new product launches and increasing inclination of patients towards regenerative and personalized medicines. Also, growing R&D expenditure for cancer research are likely to have a positive impact on the growth of the market in the coming years. But, risk of contamination associated with the cell expansion process is likely to hinder the growth of the in the future years.
Cell expansion is a crucial and invariable part of regenerative medicine. On the bases of study and investigation, desired regeneration techniques are used to develop the tissue which involves cell expansion procedures. It helps to understand how to treat injuries and diseases from broken bones to neurodegenerative diseases. Thus, the rise in the adoption of regenerative medicines is expected to foster the demand for cell expansion technique thereby driving the market growth.
The key players operating in the Cell Expansion industry include, BD,Merck KGaA,Thermo Fisher Scientific, Inc.,Terumo Corporation,General Electric Company,Corning Incorporated,Miltenyi Biotec,Danaher,Lonza,STEMCELL TECHNOLOGIES, INC.