Pune, India, April 11, 2023 (GLOBE NEWSWIRE) -- The global Regenerative Medicine Market size was USD 23.65 billion in 2021. The market is expected to grow from 29.86 billion in 2022 to USD 153.05 billion by 2029, exhibiting a CAGR of 26.3% during the forecast period. The market growth is anticipated to be driven by the emergence of a new range of opportunities due to the escalating prevalence of chronic genetic disorders. The market is expected to be propelled by its growing utilization in various fields such as cardiology, neurology, and oncology. Moreover, the market is projected to receive assistance in its development from the rising number of research initiatives and investments. These details have been provided by Fortune Business Insights in its report titled “Regenerative Medicine Market, 2022-2029”.
Industry Development:
June 2022- Bristol Myers Squibb Company received the U.S. FDA approval for CAR T cell Therapy Breyanzi. It is for people who have primary refractory or relapsed Large B-cell Lymphoma (LBCL) who cannot have transplants.
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2022 to 2029 CAGR | 26.3% |
| 2029 Value Projection | USD 153.05 billion |
| Base Year | 2021 |
| Market Size in 2021 | USD 23.65 billion |
| Historical Data | 2018-2020 |
| No. of Pages | 192 |
Key Takeaways from the Regenerative Medicine Market:
- Growth opportunities are expected to be provided by strategic acquisitions carried out by key players in the market.
- The growth of the regenerative medicine market will be driven by innovative product launches resulting from the increasing investments in R&D activities.
- Cell therapy, gene therapy, tissue engineering, and platelet-rich plasma are included in the global market based on their products.
- In 2021, the market size of North America was valued at USD 10.50 billion.
Driving factor:
Market development will be propelled by an increased number of R&D activities focusing on new therapies.
The growth of the regenerative medicine market is expected to be fueled by an increasing number of investments in R&D activities aimed at developing new therapies and products, which will also facilitate significant mergers, partnerships, and research collaborations. To treat a range of chronic diseases such as cancers, Parkinson's disease, diabetes, renal diseases, and cardiovascular diseases, among others, a variety of private and government players and research institutes have introduced options. Additionally, the market growth is expected to be driven by various applications of the product in cardiology, neurology, oncology, and other fields.
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Segmentation:
Cell therapy is expected to lead the market due to its increasing benefits in treating various diseases including autoimmune diseases, cancers, infectious diseases, and joint injuries. In 2021, cell therapy accounted for the largest share among the products segmented, according to their application, including gene therapy, tissue engineering, and platelet-rich plasma.
The orthopedics segment held the largest share of the global regenerative medicine market in 2021, based on its application, which is categorized into wound care, oncology, rare diseases, orthopedics, and others. This was due to a gradual increase in the prevalence of osteoarthritis and bone-related injuries.
Hospitals are expected to dominate the market during the forecast period based on the distribution channel. This is due to the increasing number of surgeries and government support and initiatives. The market is segmented into hospitals, clinics, and others.
Regional insights:
The market is expected to be led by North America due to the increasing technological innovations.
Due to technological innovations, rapid adoption of cell and gene therapy, and new product approvals, North America is expected to dominate the market share. Europe is expected to have the second-largest market share in the forecast period, with emerging government guidelines and therapies. Additionally, the presence of numerous research institutes and increasing government funding is expected to boost the market growth in Europe.
Asia Pacific is projected to exhibit the maximum compound annual growth rate (CAGR) due to rising cases of chronic diseases, government initiatives for technological advancements, and improving disposable incomes.
Report Coverage
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- Latest industry developments include product launches, partnerships, mergers, and acquisitions.
Competitive Landscape
Key players are adopting partnership strategies to progress the market route.
Predictions suggest that partnership strategies by regenerative medicine players will strengthen the market's grip. Gilead Sciences Inc. and Novartis AG are dominant companies in the cell and gene therapy segments, owing to their CAR T-cell therapy pipeline. In August 2022, bluebird bio received FDA approval for Zynteglo (betibeglogene autotemcel), which is the first cell-based gene therapy that can be used to treat adult and pediatric patients suffering from beta-thalassemia who regularly require red blood cell transfusions.
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The Report Lists the Key Companies in the Regenerative Medicine Market:
- Integra LifeSciences Corporation (U.S.)
- Bristol-Myers Squibb Company (U.S.)
- Tissue Regenix (U.K.)
- Smith & Nephew (U.K.)
- MIMEDX (U.S.)
- Novartis AG (Switzerland)
- Allergan Aesthetics (AbbVie Inc.) (U.S.)
- Stryker (U.S.)
- American CryoStem Corporation (U.S.)
- Kite (Gilead Sciences, Inc.) (U.S.)
- AlloSource (U.S.)
- bluebird bio, Inc. (U.S.)
- CRISPR Therapeutics (Switzerland)
- Janssen Global Services, LLC (Johnson & Johnson Services, Inc.) (Belgium)
- Tegoscience (South Korea)
Some major points from Table of Content:
- North America Regenerative Medicine Market Analysis, Insights and Forecast, 2019-2029
- Market Analysis, Insights and Forecast – By Product
- Cell Therapy
- Gene Therapy
- Tissue Engineering
- Platelet Rich Plasma
- Market Analysis, Insights and Forecast – By Application
- Orthopedics
- Wound Care
- Oncology
- Rare Diseases
- Others
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospitals
- Clinics
- Others
- Market Analysis, Insights and Forecast – By Country
- U.S.
- Canada
- Market Analysis, Insights and Forecast – By Product
- Europe Regenerative Medicine Market Analysis, Insights and Forecast, 2018-2029
- Market Analysis, Insights and Forecast – By Product
- Cell Therapy
- Gene Therapy
- Tissue Engineering
- Platelet Rich Plasma
- Market Analysis, Insights and Forecast – By Application
- Orthopedics
- Wound Care
- Oncology
- Rare Diseases
- Others
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospitals
- Clinics
- Others
- Market Analysis, Insights and Forecast – By Product
TOC Continued…
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