The global regenerative medicine market was valued at USD 2,589.5 million in 2012 and is expected to grow at a CAGR of 12.8% from 2013 to 2019, to reach an estimated value of USD 6,473.4 million by 2019 U.S. National Institute of Health stated that regenerative medicine is the process of creating functional tissue to repair and replace tissue or organ which has lost their function due to damage, congenital defects, disease and age. Moreover, it has included stem cell therapy, tissue engineering and biomaterial under the umbrella of regenerative medicine.
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