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)

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.

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

With growing prevalence of chronic diseases such as cancer, skin disorders and several infectious conditions, the market is anticipated to witness momentous growth in the forthcoming years. For instance, according to the World Health Organization, globally, about 10 million deaths occurred due to cancer in 2020. Significant portion of approved regenerative medicines indicated for cancer treatment therapy will offer industry expansion opportunities with increasing prevalence. Thus, higher product adoption to reduce disease-associated mortality rate will excel the product demand during projected period. Additionally, numerous clinical applications of cell therapy technologies and tissue engineered products in treatment of chronic ailments such as diabetes and arthritis for better patient outcomes will result in unprecedented product demand.

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:

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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