According to the analysis report titled ‘North America Regenerative Medicine Market Forecast 2027 By Application By Type, Research Report, Country Outlook, COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, North America regenerative medicine market is expected to amass a valuation of USD 57 billion by 2027.

Expert forecasters and analysts opine that increasing concerns about organ failure, adoption of stem cell technology in disease treatment, growing investments towards research & development, and ongoing clinical trials for potential therapies are the major factors fueling North America regenerative medicine market growth.

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Besides, availability of advanced research tools, and penetration of regenerative therapies in the field of orthobiologics are likely to broaden the horizon of the market in the forthcoming years.

Despite the positive outlook, the prevalence of a stringent regulatory framework may hinder growth dynamics of the market during the study period.

Moving on, North America regenerative medicine industry is segregated in terms of type, application spectrum, and regional terrain.

Speaking of the application spectrum, the dermatology segment amassed USD 3 billion in 2020 and is poised to keep growing in the coming years. As human skin possesses an innate ability to heal itself, utilizing stem cells for regenerating damaged cells and tissues for dermatological conditions is impelling the segmental share.

Meanwhile, the musculoskeletal segment held nearly 30% market share in 2020 and is expected to continually showcase an upward growth trend during the analysis timeframe, attributable to increasing cases of orthopedic conditions as well as sports injuries, alongside cognizance of benefits of treatment procedures for senior citizens.

From a geographical standpoint, Canada market is anticipated to showcase a robust growth rate through the forecast timeline, owing to increased government funding towards developing novel therapies and medicines as well as redesigning healthcare infrastructure.

Meanwhile, the U.S. industry was worth USD 15 billion in 2020 and is reckoned to growth further through 2028, on account of enhance medical facilities, accelerated research related to Covid-19 disease, and supportive regulatory framework.

The competitive terrain of North America regenerative medicine market is majorly influenced by key players such as KITE Parma Inc. (acquired by Gilead Sciences Inc.), Dendreon Pharmaceuticals Inc., Novartis International AG, Bristol Myers Squibb, bluebird bio Inc., LeMaitre Vascular Inc., Baxter International Inc., Organogenesis Inc., RepliCel Life Sciences Inc., Integra LifeSciences Corporation, Smith & Nephew plc, and AbbVie Inc.