Ottawa, March 16, 2022 (GLOBE NEWSWIRE) -- The regenerative medicine market size was reached at USD 9.81 billion in 2021. The discovery of medicines that can regenerate tissues and reduce dependency on transplants is motivated by the loss of organs and tissues due to disorder or organ damage. The regenerative medicine is an interdisciplinary field that uses engineering and life science principles to stimulate regeneration in damaged or wounded organs and tissues.
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One of the major factors driving the regenerative medicine market growth is the rising prevalence of genetic and chronic disorders. In addition, the growing geriatric population, which is prone to cardiological and oncological problems, is driving the market expansion. As a result, increased organ transplantation acceptance is also contributing the regenerative medicine market growth. The regenerative medicine reduces the chances of the body rejecting the organ after transplantation and speeds up the patient’s recovery. Other factors such as substantial medical research and development efforts and improved healthcare infrastructure, are expected to fuel the market growth.
| Report Scope | Details |
| Market Size in 2030 | USD 37.92 Billion |
| Growth Rate from 2021 to 2030 | CAGR of 16.2% |
| Largest Market | North America |
| Base Year | 2021 |
| Companies Covered | Integra LifeSciences Corporation, Amgen, Inc., Aspect Biosystems, Medtronic plc, AstraZeneca, Novartis AG, MiMedx Group, Shenzhen SibionoGeneTech Co., Ltd., Smith & Nephew plc and Baxter |
Report Highlights
- Based on the product, the therapeutics segment dominated the global regenerative medicine market in 2021 with highest market share 57%. The primary cell-based therapies are the most developed medicines accessible in the therapeutics sector, owing to their use for a variety of therapeutic purposes.
- Based on the application, the musculoskeletal segment is estimated to be the most opportunistic segment during the forecast period. This is due to the rising frequency of orthopedic diseases, the growing number of clinical trials, the rising number of stem cell research projects, and the extensive supply of stem cell products for the treatment of musculoskeletal problems.
- North America accounted largest revenue share of over 41% in 2021. The large number of clinical trials in the North America is due to the presence of a significant number of leading market players in the U.S., as well as the presence of research organizations involved in the development of novel treatments and the availability of modern technology.
- Asia-Pacific region is the fastest growing region in the regenerative medicine market. The regulatory framework has boosted the number of clinical trials for cell-based and regenerative medicines. As a result, the region’s regenerative medicine market has grown. The other factors impacting the growth of the global regenerative medicine market in the Asia-Pacific region include increasing medical demands, rising ageing population, and changing lifestyles.
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Market Dynamics
Drivers
Growing geriatric population
The elderly or senior population is rapidly increasing. According to the World Health Organization (WHO), the number of people aged 65 and up is expected to increase by around 1.5 billion by 2050. In developing countries such as China, Japan, India, and South Korea, the figure is expected to rise. Cancer, diabetes, high blood pressure, and blood sugar levels are just a few of the health issues that the geriatric population faces. They need to be more cautious about their health. As a result, they require medications at regular intervals. As a result, during the forecast period, the growing geriatric population will drive the growth of the regenerative medicine market.
Restraints
High cost of therapies
For patients suffering from terminal illnesses and major ailments, gene and cell therapies are a tremendous achievement in the field of medical. These treatments are assisting in the transformation of how diseases are treated and cured. Despite the fact that these therapies are extremely helpful in saving lives, the demand for these therapies is lower than anticipated. This is due to the high prices of these therapies, which is restricting the market growth.
Opportunities
Increasing product acceptance for cancer immunotherapy
Cancer is caused by the transformation of normal cells into tumor cells over the course of a multi-stage process that typically begins with a precancerous lesion and progresses to a malignant tumor. These changes are caused by the interaction of a person's hereditary factors. Cancer is the leading cause of death worldwide, accounting for roughly 10 million deaths by 2020. Because each type of cancer requires a unique treatment plan, a correct cancer diagnosis is critical for appropriate and effective treatment. Chemotherapy, radiotherapy, and surgery are common cancer treatments. Cancer immunotherapy using regenerative medicine has the advantage of being able to target and eliminate disease cells because of the inherent ability of hematopoietic stem or more mature cells. It also allows for a better understanding of cancer cells, which aids in the development of effective treatments. As a result, rising product demand for cancer treatment, combined with rising disease prevalence, will create opportunities for the market expansion.
Challenges
Stringent government regulations
The use of regenerative medicine in many developed and developing regions requires government approval. The regenerative medicine products require Food and Drug Administration (FDA) license or approval for marketing and sales. Thus, the stringent government regulations are biggest challenge for the growth of the market.
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Major Market Segments Covered:
By Product
- Therapeutics
- Primary Cell-based Therapeutics
- Stem Cell & Progenitor Cell-based Therapeutics
- Cell-based Immunotherapies
- Gene Therapies
- Tissue-Engineering
- Progenitor and Stem Cell Therapies
- Tools
- Banks
- Services
By Application
- Wound Care
- Musculoskeletal
- Ophthalmology
- Oncology
- Dermatology
- Cardiovascular
- Others
By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
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