Regenerative Medicine Market Size By Type (Cell Therapy, Tissue Engineering, Gene Therapy), By Application (Oncology, Dermatology, Musculoskeletal, Neurology, Cardiovascular, Wound Healing, Ophthalmology), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027

Industry trends

Regenerative Medicine Market size exceeded USD 37 billion in 2020 and is anticipated to grow at a CAGR of over 19.1% between 2021 and 2027. 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 the coming years. With increasing product development activities and expanding clinical applications, the market will witness lucrative growth during the forecast timeline.
 

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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 the coming years.
 

Strong product pipeline with increasing research funding will support number of product approvals

Growing research and development by the organizations to discover innovative medicine will significantly influence the regenerative medicine market expansion. The industry has observed significant growth in research funding over past few years. For instance, as per the Alliance for Regenerative Medicine, overall financing increased from USD 9.8 billion in 2019 to USD 19.9 billion in 2020. Rising funding has further allowed organizations to strengthen their product development capabilities, thereby augmenting the market value.
 

Although healthcare system experienced impact of COVID-19 pandemic, regenerative medicine industry continued to showcase 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. Along with above-mentioned factors, need for expansion of advanced therapies to middle and low-income countries with high disease prevalence will stimulate the market demand during the forecast period.
 

High product usage with enhanced patient outcomes will benefit the demand for tissue engineered products

Tissue engineering segment held for 28% of the market share in 2020 led by 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 foster the product demand. Furthermore, tissue engineering allows regeneration of patient’s own tissue or organ free of poor biocompatibility and low biofunctionality.
 

Increasing product acceptance for cancer immunotherapy will offer unprecedented market progression opportunities

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Oncology segment is expected to register 20.7% growth rate through 2027 driven by the extensive product pipeline providing treatment for various cancer forms. 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 fuel the segment growth.
 

Presence of numerous companies focusing on product innovations will continue to strengthen the market value in European region

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Europe regenerative medicine market accounted for over 25% of revenue share in 2020 owing to the presence of innovative manufacturers undertaking clinical trials. Along with research activities by organizations, higher prevalence of several chronic conditions such as diabetes, cancer and musculoskeletal abnormalities among European population will boost the demand regenerative therapies. Moreover, adoption of advanced treatment therapies with high spending ability and favourable funding will positively impact the regional growth.
 

Product innovations and partnerships to widen offerings are assisting the firms in business expansion

The global market consists of several players including Novartis, GlaxoSmithKline, Smith and Nephew and Amgen among others. These leaders are adopting several expansion and growth strategies such as partnerships, acquisitions and product launches to increase their market presence.
 

The market research report of regenerative medicine includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2016 to 2027 for the following segments:

Market, By Type

• Cell Therapy
• Tissue Engineering
• Gene Therapy
• Others

Market, By Application

• Oncology
• Dermatology
• Musculoskeletal
• Neurology
• Cardiovascular
• Wound Healing
• Ophthalmology
• Others

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
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • Saudi Arabia
  • South Africa
  • UAE