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Avita Medical Ltd (ASX: AVH)Avita Medical is a global regenerative medicine company best known for its Recell system. This is a spray-on skin treatment used for burns victims. Demand for its offering has been growing very strongly over the last couple of years. Pleasingly, this has continued in FY 2021 after a minor blip in FY 2020 because of the pandemic.During the first quarter, Avita reported a 59% increase in U.S based RECELL revenue to US$5 million. This strong revenue growth was driven by a 27.2% increase in procedural volumes to 496 and the addition of 9 new accounts in the first quarter. The latter brings its total accounts to 86.Avita isn’t settling for this and is busy seeking to expand the use of the Recell system. It is hoping to be able to treat vitiligo with the system in the future. In addition, the company recently announced a collaboration with Houston Methodist Research Institute that will see the pairing of Avita’s proprietary Spray-On Skin Cells with Houston Methodist Research Institute’s expertise in reversing cellular ageing. The project is seeking to establish proof-of-concept for the development of a novel approach to reverse ageing and rejuvenate skin.Bell Potter currently has a speculative buy rating and $15.00 price target on the company’s shares.