Global Regenerative Medicine Market valued at US$ 29.1 billion in 2019 and is anticipated to reach US$ 178.6 billion by 2026 displaying a significant CAGR of 31.5% over the forecast period (2020-2026). Regenerative medicine includes the generation and use of therapeutic stem cells, tissue engineering and the production of artificial organs. It is a relatively new field that brings together experts in biology, chemistry, computer science, engineering, genetics, medicine, robotics, and other fields to find solutions to some of the most challenging medical problems faced by humankind. The promising field of Regenerative Medicine is working to restore the structure and function of damaged tissues and organs. It is also working to create solutions for organs that become permanently damaged. The goal of this approach is to find a way to cure previously untreatable injuries and diseases.
The increasing prevalence of chronic conditions, government assistance and numerous companies investing heavily in stem cell therapy research and development, thereby boost the overall market growth. The rising number of organ transplantation and an increasing number of products in the pipeline mark as an opportunity for this industry. However, the high cost associated with regenerative medicine and Ethical Issues related to the use of stem cell & regenerative medicines acts as the major challenges in the growth of this market. Regenerative medicine has made its way into clinical practice with the use of materials that can assist in the healing process by releasing growth factors and cytokines back into the damaged tissue (e.g., (chronic) wound healing). As additional applications are researched, the fields of regenerative medicine and cellular therapies will continue to merge and expand, potentially treating many disease conditions and improving health for a variety of diseases and health conditions.
Global Regenerative Medicine market by product type is bifurcated in cell therapy, gene therapy, tissue engineering and small molecule and biologics. The cell therapy segment is anticipated to dominate the global regenerative medicine market during the forecast period due to the technological advancements coupled with increasing utilization of cell therapy as a treatment to several conditions. However, the Gene Therapy segment is expected to witness the highest CAGR of 33.9% during the forecast period 2020-2026.
The material type being utilized for the generation of regenerative medicine is divided into several such as synthetic materials, biologically derived materials, genetically engineered materials and others (pharmaceuticals). The Biologically Derived Materials dominated the market in 2019 and is anticipated to maintain its dominance during the forecast period due to the increased usage and advancements in biologically derived materials. However, genetically engineered material is expected to witness the highest CAGR during the forecast period.
While covering a broad range of applications, in practice the latter term is closely associated with applications that repair or replace portions of or whole tissues (i.e., bone, cartilage, blood vessels, bladder, skin). By applications, the market is segmented into cardiovascular, oncology, dermatology, musculoskeletal, immunology and inflammation, ophthalmology, neurology, others. The application of regenerative medicine in the treatment of Oncology disorders generated revenue of US$ 15.50 billion in 2019. A musculoskeletal segment is expected to generate revenue of US$ 12.50 billion by 2026.
For a better understanding of the overall adoption rate of regenerative medicine in major markets, detailed country-level analysis has been conducted for major regions/countries including North America (US, Canada, Rest of North America), Europe (UK, Germany, France, Spain, Italy, Rest of Europe), Asia-Pacific (China, India, Japan, Australia and South Korea, Rest of Asia-Pacific), and the Rest of the World (Brazil, South Africa and others). Based on the estimation, North America dominated the global Regenerative Medicine Market, generating revenue of US$ 12.10 billion in 2019. The increasing demand for regenerative medicine in the treatment of chronic diseases, cancer, and enhancement in nanotechnologies would drive the market for regenerative medicine in the North American region.
Athersys, Inc., Corline Biomedical AB, Mesoblast, Nuvasive, Inc., Cook Biotech, Integra LifeSciences Corporation, Organogenesis, Osiris Therapeutics, Inc., Stryker Corporation, U.S. Stem Cell, Inc., Spark Therapeutics, Pfizer, REGENXBIO, Abbott Laboratories, Roche, Sarepta Therapeutics, Gilead Sciences are some of the prominent players operating in the Global Regenerative Medicine market. Several M&A’s along with partnerships have been undertaken by these players to facilitate costumers with hi-tech and innovative products.
Global Regenerative Medicine Market Segmentation
Market Insights, by Product
· Cell Therapy
· Gene Therapy
· Tissue Engineering
· Small Molecule and Biologics
Market Insights, by Material
· Synthetic Materials
· Biologically Derived Materials
· Genetically Engineered Materials
· Others (Pharmaceuticals)
Market Insights, by Application
· Cardiovascular
· Oncology
· Dermatology
· Musculoskeletal
· Immunology and Inflammation
· Ophthalmology
· Neurology
· Others
Market Insights, by Region
· North America
o United States
o Canada
o Rest of NA
· Europe
o Germany
o United Kingdom
o France
o Italy
o Spain
o Rest of Europe
· Asia-Pacific
o China
o Japan
o Australia
o South Korea
o India
o Rest of APAC
· Rest of World
o Brazil
o South Africa
o Other Rest of World
Top Company Profiles
· Athersys, Inc
· Corline Biomedical AB
· Mesoblast
· Nuvasive, Inc.
· Cook Biotech
· Integra LifeSciences Corporation
· Organogenesis
· Osiris Therapeutics, Inc.
· Stryker Corporation
· U.S. Stem Cell, Inc.
· Spark Therapeutics
· Pfizer
· REGENXBIO
· Abbott Laboratories
· Roche
· Sarepta Therapeutics
· Gilead Sciences
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