Regenerative Medicine Market - By Type (Cell Therapy, Tissue Engineering, Gene Therapy), By Application (Oncology, Dermatology, Musculoskeletal, Neurology, Cardiovascular, Wound Healing, Ophthalmology), Global Forecast (2023-2032)
Published Date: July - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationRegenerative Medicine Market - By Type (Cell Therapy, Tissue Engineering, Gene Therapy), By Application (Oncology, Dermatology, Musculoskeletal, Neurology, Cardiovascular, Wound Healing, Ophthalmology), Global Forecast (2023-2032)
Regenerative Medicine Market Size
Regenerative Medicine Market size is valued to be USD 52.3 billion in 2022 and is projected to grow at CAGR of 20.4% and reach USD 328.9 billion by 2032. Regenerative medicine is field of medicinal science that aims towards development of products to replace, regrow or repair damaged tissues, cells and organs. It provides advanced therapies for range of diseases with the help of stem cells and tissue engineering.
Further, several ongoing clinical studies to understand the potential of regenerative medicine in new therapeutic applications will result into numerous product launches in coming years. With increasing product development activities and expanding clinical applications, the market will witness lucrative growth in future.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Regenerative Medicine Market Size in 2022 | USD 52.3 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 20.4% |
| 2032 Value Projection | USD 328.9 Billion |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 100 |
| Tables, Charts & Figures | 176 |
| Segments covered | Type, Application, and Region |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
Regenerative medicine has offered several benefits over conventional treatment method including faster recovery. For instance, stem cells and platelet-rich plasma allows faster repairing of injured joints and tissue that enhances the body's own ability to heal. Further, it also helps to reduce inflammation and prevent scar tissue formation. Additionally, some promising approaches including stimulation of endogenous stem cells for in situ repair and organoids transplantation to repair minor tissue injury will continue to drive the industry growth potential in coming years.
COVID-19 Impact
The pandemic had significantly impacted the global regenerative medicine market. Although healthcare system experienced impact of COVID-19 pandemic, regenerative medicine industry continued to witness growth. For instance, Novartis reported strong growth in revenues of Kymriah despite pandemic. Thus, development of such products is considerably contributing to the company growth and will benefit the overall industry revenue. The rising covid-19 cases positively impacted the growth of this market by increasing the research and development safe and effective approach to the treatment of COVID-19 using stem cell therapy.
For instance, in 2020, an article was published by National Institutes of Health (NIH), Mesenchymal Stem Cell Therapy for COVID-19 Present or Future. The increasing research and development of stem cell therapies for treating COVID-19 cases and increasing approval of clinical trials using stem cell therapy to treat covid-19 patients has propelled the growth of this market.
Regenerative Medicine Market Driving and Restraining Factors
As diseases like cancer and other chronic conditions become more common, the market for treatments is expected to skyrocket. For example, cancer alone was responsible for 10 million deaths worldwide in 2020, according to the World Health Organization. The increasing availability of regenerative medicine treatments for cancer gives this industry a huge opportunity for growth. These treatments aim to cure or control diseases, potentially saving countless lives. In addition, cell therapies and tissue engineering products are showing promising results in treating other chronic conditions like diabetes and arthritis. As these technologies become more effective, they will drive up demand for these treatments.
Growing research and development by the organizations to discover innovative medicine will significantly aid to influence market trends. The industry has witnessed significant growth in research funding over past few years. Regenerative medicine involves cutting-edge technologies, and navigating the complex regulatory landscape for these therapies can be challenging. Stringent regulatory requirements can delay product approvals and increase development costs.
Regenerative Medicine Market Analysis
Based on type, the regenerative medicine market is categorized into cell therapy, tissue engineering, gene therapy, and other types. In 2022, the cell therapy accounted to significant market share and is expected to grow at CAGR of 20.2% during the forecast period. The segment growth is primarily attributable to continuous advancements in stem cell therapies to expand applications in newer disease areas. Development of potential therapies for ophthalmic diseases and neurovegetative disorders will offer significant growth opportunities to the segment.
Moreover, ability of stem cell to cure heart failure and several ongoing studies to develop such therapies will lead to lucrative segment growth in future. The tissue engineering held second largest market share due to its advantages in generation of damaged tissues with cells, scaffold and growth factors. Its expanding applications in the treatment of diabetic foot ulcers, heart failure, burns, and wounds will drive the product demand.
Based on applications, the regenerative medicine market is segmented oncology, dermatology, musculoskeletal, neurology, cardiovascular, wound healing, ophthalmology and other applications. Musculoskeletal segment accounted for highest market share of 31.6% in 2022. Increasing prevalence of musculoskeletal diseases such as osteoarthritis, rheumatoid arthritis and several orthopedic disorders are contributing to the product demand. Further, rising geriatric population susceptible to age-related musculoskeletal conditions will continue to drive the segment progress.
Oncology segment is expected to proceed at 21.9% CAGR during projection period. Extensive product pipeline providing treatment for various cancer forms will majorly contribute to segment growth. Cancer immunotherapy using regenerative medicine offers advantage to target and eliminate disease cells with the intrinsic ability of hematopoietic stem or more mature cells. Further, it allows better understanding of cancer cells and helps in development of effective treatment. Hence, growing product demand in cancer treatment with increasing disease prevalence will influence the segment expansion.
The North America regenerative medicines market dominated the global market with highest business share of 45.5% in 2022. Increasing adoption of innovative treatment therapies along with growing prevalence of chronic diseases will drive the regional market trends. Moreover, growing treatment accessibility with developed infrastructure and higher spending capacity will impel the product demand in the region. In addition, continuous developmental activities by organizations resulting in new product launches in the region will further improve the accessibility.
Regenerative Medicine Market Share
The key players in the regenerative medicine market are
- Novartis AG
- Amgen, Inc.
- Bristol Myers Squibb
- BLUEBIRD BIO
- GC Pharma
- GlaxoSmithKline plc
- ANTEROGEN
- BIOSOLUTIONS
- TERUMO BCT
- AVITA MEDICAL
- Smith and Nephew
- ORGANOGENESIS
These companies are implementing several strategies such as collaborations, acquisitions, partnerships, mergers, and product launches to maintain a competitive edge in the industry.
Regenerative Medicine Industry News
- In May 2021, Bristol Myers Squibb received the U.S. FDA approval for Breyanzi. The product is indicated for adults with relapsed or refractory (R/R) large B-cell lymphoma (LBCL). The product introduction augmented the firm’s product portfolio and customer base.
- In May 2018, Novartis announced the U.S. FDA approval of Kymriah (tisagenlecleucel), chimeric antigen receptor (CAR) T-cell therapy for relapsed or refractory large B-cell lymphoma. This product launch has resulted in expansion of its product portfolio in the market.
The global regenerative medicines market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032 for the following segments
Click here to Buy Section of this Report
By Type
- Cell therapy
- Tissue engineering
- Gene therapy
- Other types
By Application
- Oncology
- Dermatology
- Musculoskeletal
- Neurology
- Cardiovascular
- Wound Healing
- Ophthalmology
- Other applications
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Sweden
- The Netherlands
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Rest of Middle East & Africa
Related Reports
FAQ'S
For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:
Within 24 to 48 hrs.
You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email
You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.
Discounts are available.
Hard Copy