Regenerative Medicine Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, Japan, China, India, Australia, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, UAE), Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI4571
Regenerative Medicine Market size is projected to experience significant growth from 2020 to 2026. Regenerative medicine is used to regenerate, repair or replace damaged tissue cells that are affected by disease or an injury. This type of therapy restores the functionality of cells and are useful in various disorders such as neurology, cardiology and dermatology among others.
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Growing prevalence of chronic diseases and genetic disorders will pose to be a major factor impacting regenerative medicine market growth. As per the National Health Council estimates, by 2020, about 157 million Americans will suffer from some form of chronic disease. Majority of people suffer from one or more chronic conditions such as diabetes, heart disease, cancer and orthopedic diseases among others. Regenerative medicine is an emerging field that is being rapidly used to treat selective chronic conditions and thus improve patient’s standard of care. Increasing prevalence of such diseases coupled with expanding applications of regenerative medicine will positively impact the market growth in the forthcoming years.
Increasing investment by government and market players will boost regenerative medicine market demand in the forthcoming years. In September 2019, SanBio announced that the U.S. Food and Drug Administration (FDA) granted regenerative medicine advanced therapy designation for SB623 cell therapy, for the treatment of neurological disorders. Also, in March 2018, Hitachi signed an agreement with Daiichi Sankyo for conducting clinical manufacturing of regenerative medicine. Thus, continuous innovations and spending on R&D will offer robust growth opportunities to regenerative medicine business. However, stringent regulatory policies along with adverse effects of biologics may obstruct the industry growth during the forecast period.
On the basis of type, the market is segmented as stem cell therapy, tissue engineering, gene therapy, platelet rich plasma and others. Cell therapy segment will witness substantial growth during the forecast years due to its high efficiency to restore and repair damaged tissue and improve therapeutic functions. Furthermore, growing demand for cell-based immunotherapies and ongoing research studies will further enhance the segment growth over the forthcoming period.
Based on application, regenerative medicine market is segmented as oncology, dermatology, musculoskeletal, neurology, cardiovascular, wound healing, ophthalmology and other applications. Oncology segment will witness rapid growth owing to rising incidence of cancer across the globe. As per the National Cancer Institute, in 2018, around 17.4 million patients were diagnosed with cancer in U.S. Thus, rising prevalence of cancer will lead to adoption of stem cell and tissue engineering therapy, thereby driving the demand for regenerative medicine in the upcoming years.
Demand of regenerative medicine in hospitals will foresee lucrative growth in the future. Hospitals offer high-quality and focused services to the patients. Availability of technologically advanced products in hospitals further propel the customer preference. Thus, with increasing incidence of chronic diseases coupled with superior treatment offered in hospitals, will drive market growth in the future.
U.S. regenerative medicine market share is estimated to grow robustly during the forecast period due to growing prevalence of chronic diseases resulting into damaged tissues. According to the Centers for Disease Control and Prevention, till 2017, over 18.2 million adults were suffering from cardiovascular disease in the U.S. Furthermore, scientists are advancing new ways to repair or regenerate damaged cells using regenerative therapy. Thus, rising funding for research and development along with increasing risk factors pertaining to chronic ailments will influence the regional market demand in the future.
Asia Pacific regenerative medicine market will show momentous growth potential during the forecast years. Rise in acceptance of regenerative medicine for organ transplants in several countries including India will positively impact the demand for regenerative medicine. Furthermore, rise in sports injuries will drive the market demand. As per the National Safety Council (NSC), in 2017, there were about 526,000 sports injuries in Asia. Regenerative medicine is used to repair the damaged tendon, cartilage and ligament tissues using protein rich plasma therapy. Thus, increasing adoption of sports activities along with expanding geriatric pool prone to various diseases will impel the regional growth.
Novartis AG, Integra LifeSciences Corporation and Stryker are some of the major players involved in the global regenerative medicine market share. These players are adopting product development strategies for business expansion. For instance, in August 2018, Novartis AG received European Union approval for its chimeric antigen receptor T-cell (CART-T) therapy named KYMRIAH. This approval provided a new treatment option to patients that were suffering from leukemia, thereby expanding the company’s client base.
Regenerative Medicine Market, By Type, 2015 - 2026 (USD Million)
- Stem Cell Therapy
- Tissue Engineering
- Gene Therapy
- Platelet Rich Plasma
Regenerative Medicine Market, By Application, 2015 - 2026 (USD Million)
- Wound Healing
By End-use, 2015 - 2026 (USD Million)
- Ambulatory surgery centers
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
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