Veterinary Regenerative Medicine Market - By Animal Type (Companion, Livestock), Product Type (Stem Cell, [Autologous, Allogenic], Biological Therapy [PRP, GF], Tissue Engineering), Application (Orthopedic, Wound), End-user – Global Forecast (2024 – 2032)

Veterinary Regenerative Medicine Market - By Animal Type (Companion, Livestock), Product Type (Stem Cell, [Autologous, Allogenic], Biological Therapy [PRP, GF], Tissue Engineering), Application (Orthopedic, Wound), End-user – Global Forecast (2024 – 2032)

Veterinary Regenerative Medicine Market Size

Veterinary Regenerative Medicine Market size was valued at USD 265.5 million in 2023 and is estimated to grow at 9.9% CAGR from 2024 to 2032, due to the increasing prevalence of chronic and degenerative diseases in animals. Conditions such as osteoarthritis, ligament injuries, and other age-related disorders are becoming more common in both companion and livestock animals.

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For instance, according to the Companion Animal Health report, Osteoarthritis accounts for at least 80% of lameness and joint disease cases in companion animals. While osteoarthritis is often linked with older animals, a recent study on its prevalence and clinical signs in young dogs (aged 8 months to 4 years) revealed that 39.8% of these animals exhibited radiographic signs of osteoarthritis in at least one joint.

This highlighted the significant impact of osteoarthritis across various age groups in companion animals, underscoring the need for effective treatments and early intervention strategies. Moreover, growing awareness among pet owners and farmers about advanced treatment options drives demand for regenerative medicine, thereby fostering the market growth.

Veterinary regenerative medicine refers to the commercial development and application of advanced therapies to tissue repair, replace, or regenerate damaged tissues and organs in animals. This field utilizes cutting-edge techniques such as stem cell therapy, biological therapy includes platelet-rich plasma (PRP), growth factors, and tissue engineering to treat various conditions, including orthopedic injuries, soft tissue damage, and chronic diseases.
 

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Veterinary Regenerative Medicine Market Trends

Innovations in stem cell research, tissue engineering, and biologics are significantly enhancing the capabilities and applications of regenerative medicine, leading to more effective and targeted treatments, thereby expanding the market growth in coming years.

• For instance, traditionally, the induction of induced pluripotent stem cells (iPSCs) required feeder cells from different species, introducing certain risks to the animals during stem cell therapy. Addressing this challenge, a team of scientists from Osaka Metropolitan University developed an innovative method to reprogram stem cells from canine urine. This non-invasive and pain-free technique marked a significant step forward in veterinary regenerative treatments. This advancement opens new doors for therapies in regenerative medicine and genetic disease research in veterinary science, paving the way for more personalized and effective treatments.
• Thus, such innovations are driving significant opportunities in the market.
• Moreover, the growing animal healthcare expenditure, enhanced diagnostic technologies, growing government support, and strategic expansions by major players further propel the market demand.

Veterinary Regenerative Medicine Market Analysis

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Based on the animal type, the market is categorized as companion animals and livestock animals. The companion animal segment is set to lead the market, accounting for the largest revenue of USD 158.9 million in 2023, anticipating its dominance throughout the forecast period with a CAGR of 9.8%.

• The segment dominance can be attributed to the growing trend of pet humanization leading to increased spending on advanced healthcare solutions for pets. Also, companion animals often suffer from a wide range of conditions including osteoarthritis and ligament injuries, which are effectively treated with regenerative therapies. Thus, the aforementioned factors collectively contribute to the companion animal segment's dominance in the market.
• Furthermore, there is a higher acceptance and awareness of regenerative medicine among pet owners that is influencing the demand for such treatments, thereby fostering the market growth.

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Based on product type, the veterinary regenerative medicine market is classified into stem cell therapy, biological therapy, and tissue engineering. The stem cell therapy segment holds the largest market share of 60.9% in 2023 and is expected to maintain dominance throughout the analysis period.

• Stem cell therapy has emerged as the dominant force in the market due to its versatility, efficacy, and broad applicability across various animal health conditions. Stem cells possess a distinct capacity to transform into specialized cell types, accelerating tissue repair and rejuvenation across diverse medical fields including orthopedics, neurology, and dermatology.
• Further, supported by mounting scientific validation and refinements in isolation methods and quality assurance, stem cell therapy has emerged as the favored option for veterinarians pursuing regenerative remedies for their animal patients.
• Such aforementioned factor is expected to supplement the segmental growth.

Based on the application, the veterinary regenerative medicine market is segmented into orthopedics, trauma/ wound care, and other applications. The orthopedics segment is projected to reach USD 278.1 million by 2032.

• The orthopedic segment has asserted dominance due to its high demand for treatments addressing musculoskeletal issues prevalent in companion and livestock animals. Conditions such osteoarthritis and ligament injuries are frequently encountered, prompting a surge in the adoption of regenerative therapies such as stem cell treatments, biological therapies, and tissue engineering.
• For instance, in January 2023, TVM launched DogStem, a ready-to-use stem cell treatment specifically designed for dogs. DogStem is indicated for treating mild to severe osteoarthritis of the hip and elbow in canines. This innovative treatment aimed to provide an effective solution for managing osteoarthritis, enhancing the outcomes for affected dogs through advanced regenerative therapy. This focus on orthopedic applications reflected the segment dominance in the market.

Based on the end-user, the veterinary regenerative medicine market is segmented into veterinary hospitals, veterinary clinics, and academics and research institutes. The veterinary hospitals segment dominated the market with the highest share in 2023.

• Veterinary hospitals dominated the market due to their comprehensive capabilities in offering advanced treatments and specialized care. Equipped with advanced technology and staffed by skilled veterinarians, these hospitals are well-positioned to administer complex regenerative therapies such as stem cell treatments and platelet-rich plasma injections.
• Further, their ability to provide integrated and high-quality care attracts a large patient population, reinforcing their dominance in the market.

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The U.S. dominated the North American veterinary regenerative medicine market accounting for USD 111.3 million in 2023 and is anticipated to show considerable growth over the analysis period.

• The U.S. holds a leading position in the North American market driven by high pet ownership rates, and significant investment in R&D.  Also, high veterinary healthcare spending in the U.S. tends to further expand the market. For instance, according to the American Pet Products Association, in 2022, pet owners spent USD 31.5 billion on supplies, live animals, and medicine, and USD 35.9 billion on veterinary care and products. Thus, the increasing expenditure on veterinary care is driving the demand for effective treatment options, thereby propelling market growth.
• Additionally, strong support from regulatory bodies such as the FDA for clinical trials and product approvals further bolsters the U.S. market's growth and innovation.

Germany exhibited a high growth potential in the European veterinary regenerative medicine market.

• Germany is a key player in the market in Europe, known for its advanced veterinary care and stringent regulatory standards.
• The country's emphasis on research and technological innovation in veterinary sciences supports the development and adoption of regenerative treatments.
• In addition, growing awareness among pet owners about advanced therapies and the presence of leading veterinary research institutions and biotechnology companies contribute to Germany's significant role in the market.

The Asia Pacific veterinary regenerative medicine market is poised for rapid growth with a CAGR of 10.4% during the forecast period.

• The Asia Pacific market is poised for rapid growth due to increasing pet ownership, rising awareness about advanced veterinary treatments, and growing animal healthcare expenditure.
• Growing investment in veterinary healthcare is driving research for regenerative therapies. Also, advancements in biotechnology and a growing focus on animal health are propelling the adoption of innovative treatments.
• These factors collectively position the Asia Pacific region poised to expand and explore opportunities in the market.

Veterinary Regenerative Medicine Market Share

The competitive landscape of the veterinary regenerative medicine industry is characterized by numerous established players striving to capitalize on the growing demand for advanced animal healthcare solutions. Key players are dominating the market with their diverse portfolio of regenerative therapies and strong distribution networks. Also, collaborations between academic institutions and industry players for R&D further intensify competition. Furthermore, emerging startups are also making significant strides, leveraging innovative technologies and strategic partnerships to gain traction in this evolving market landscape.

Veterinary Regenerative Medicine Market Companies

Few of the prominent players operating in the veterinary regenerative medicine industry include

• Animal Cell Therapies, Inc.
• Ardent
• Bioceltix
• Boehringer Ingelheim International GmbH
• CTSL (Cell Therapy Sciences)
• Dechra
• Enso Discoveries
• Magellan Stem Cells
• Medrego
• Regeneus Ltd (Cambium Bio Ltd.)
• StemcellX
• VetStem, Inc.
• Zoetis Inc.

Veterinary Regenerative Medicine Industry News

• In June 2024, the FDA approved clinical trials at Cornell University Hospital for Animals (CUHA) to explore the use of stem cells in treating musculoskeletal and neurological abnormalities in dogs and horses. The approval aims to enhance animal health by promoting more complete recovery from injuries and reducing discomfort. This significant step forward underscores the potential of regenerative medicine in improving veterinary care outcomes.
• In April 2024, VetStem, Inc. received FDA review clearance for its PrecisePRP Canine, a leucoreduced, allogeneic, pooled, freeze-dried platelet-rich plasma (PRP). According to the agency, this product is "the first animal cell, tissue, and cell- and tissue-based product (ACTP) intended for intra-articular use to undergo FDA review and receive this determination." The off-the-shelf product approval aimed to mark a significant advancement in veterinary regenerative medicine.

The veterinary regenerative medicine market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 – 2032 for the following segments

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Market, By Animal Type

• Companion animals
• Livestock animals

Market, By Product Type

• Stem cell therapy    
  • Autologous
  • Allogeneic
• Biological therapy    
  • Platelet-rich plasma (PRP)
  • Growth factors
• Tissue engineering

Market, By Application

• Orthopedics
• Trauma/ wound care
• Other applications

Market, By End-user

• Veterinary hospitals
• Veterinary clinics
• Academics and research institutes

The above information is provided for the following regions and countries

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Netherlands
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East and Africa
  • Saudi Arabia
  • South Africa
  • UAE
  • Rest of Middle East and Africa