New York, Nov. 30, 2021 (GLOBE NEWSWIRE) -- According to the statistics by the American Institute of Cancer Research, the total number of new cases of cancer diagnosed worldwide in the year 2018 was 17036901 cases. Out of these, lung and breast cancer were the two most common cancer diseases which represented the highest share of 12.3% each respectively. On the other hand, according to the statistics by the World Health Organization (WHO), in the year 2020, deaths caused due to cancer were close to 10 Million. The statistics also stated that skin cancer (non-melanoma), prostate, and colon & rectum cancer, in terms of new cases, in the year 2020, recorded to 1.20 Million, 1.41 Million, and 1.93 Million cases respectively.
Research Nester, in its repository of market research reports, added a report on “Global Regenerative Medicine Market” which is studied for the forecast period, i.e., 2021-2029. The report includes details on the different strategies adopted by the key players, along with their product offerings, and also focuses on the key market dynamics by the use of different statistical tools, such as SWOT analysis, PESTEL analysis, and others.
The incidences of chronic diseases, such as cancer, are growing at a significant pace around the globe. Moreover, several types of cancer diseases are known to destroy the body cells, which is raising the need to develop regenerative medicines that can help to cure the infected cells. Such a factor is anticipated to drive the growth of the global regenerative medicine market. The market, which garnered a revenue of USD 34270 Million in the year 2020 is further projected to reach USD 167500 Million by the end of 2029, by growing with a CAGR of 16.43% during the forecast period.
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The global regenerative medicine market is also expected to grow on account of the growing incidences of cardiovascular diseases worldwide and the rising number of deaths caused due to cardiovascular diseases, which according to the WHO, was estimated to be 17.9 Million in the year 2019. In addition, the increasing cases of eye diseases, such as cataracts, followed by the rising cataract surgeries globally, are also estimated to drive the market growth during the forecast period. According to the statistics by Eurostat, cataract surgery performed in Germany, France, and Italy, grew from 1006.35, 1166.16, and 869.73 per hundred thousand inhabitants in the year 2014 respectively, to 1045.86, 1291.91, and 931.24 per hundred thousand inhabitants in the year 2017 respectively. Moreover, rising expenditure on health and the increasing research and advancements in healthcare are some of the additional factors projected to drive the market growth. According to the statistics by the World Bank, the current health expenditure around the globe as a share of GDP increased from 8.684% in the year 2000 to 9.858% in the year 2018.
The global regenerative medicine market is segmented by region into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Out of these, the market in North America is expected to garner the highest share throughout the forecast period and further attain a market revenue of USD 69194.25 Million by the end of 2029, up from a revenue of USD 14283.74 Million in 2020. The market in the region is also expected to grow with a CAGR of 16.32% during the forecast period. Amongst the countries in North America, the market in the U.S. is anticipated to hold the register the largest market share during the forecast period and further garner a market revenue of USD 17406.61 Million by the end of 2021. The market in the country is also expected to grow with a CAGR of 16.40% during the forecast period.
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Besides this, the regenerative medicine market in Europe is expected to hold the second-largest share by the end of 2029 and also register the largest market revenue of USD 56682 Million in the same year. Moreover, in the year 2020, the market in the region garnered a revenue of USD 11429.05 Million. The market in the region is segmented by countries into Germany, United Kingdom, France, Italy, Spain, Turkey, Russia, and the Rest of Europe. Amongst these countries, the market in Germany registered the largest market revenue of USD 2883.55 Million in 2020 and is further projected to reach USD 15502.53 Million by the end of 2029. The market in the country is also expected to grow with the highest CAGR of 17.67% during the forecast period.
The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
The global regenerative medicine market is segmented by therapy into cell therapy, gene therapy, tissue engineering, small molecule & biologic, and others. Out of these segments, the cell therapy segment is expected to garner the highest market share throughout the forecast period. The segment registered a revenue of USD 19608.88 Million in the year 2020 and is further projected to touch USD 100165 Million by the end of 2029. In the U.S., the segment is anticipated to garner the highest market revenue of USD 34653.07 Million by the end of 2029, up from a revenue of USD 6989.55 Million in 2020. The gene therapy segment, on the other hand, is expected to grow with the highest CAGR of 17.33% during the forecast period in the region. Alternatively, in Europe, the cell therapy segment is expected to garner the highest revenue of USD 33400.95 Million by the end of 2029, up from a revenue of USD 6660.90 Million in 2020. Moreover, in Germany, the segment is expected to garner the largest market revenue of USD 2464.22 Million by the end of 2021.
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The global regenerative medicine market is also segmented on the basis of application into cardiovascular, oncology, dermatology, musculoskeletal, wound healing, ophthalmology, neurology, and others. Out of these segments, the oncology segment is expected to hold the highest market share throughout the forecast period. In the year 2020, the segment registered a revenue of USD 14859.98 Million, and is further anticipated to grow to USD 73616.25 Million by the end of 2029. Alternatively, the cardiovascular segment is expected to grow with the highest CAGR of 18.46% during the forecast period. In Europe, the oncology segment is anticipated to register the largest market revenue of USD 24800.05 Million by the end of 2029, up from a revenue of USD 4975.33 Million in 2020. Further, in the United Kingdom, the segment is expected to grab the largest market revenue of USD 1625.94 Million by the end of 2021. The segment is also expected to grow with a CAGR of 17.15% during the forecast period. On the other hand, in the United States, in the North America region, the segment is expected to garner the largest revenue of USD 25685.97 Million by the end of 2029, up from a revenue of USD 5240.76 Million in 2020. The segment in the country is also expected to grow with a CAGR of 16.47% during the forecast period.
The global regenerative medicine market is also segmented on the basis of material and by end user.
Global Regenerative Medicine Market, Segmentation by Material
- Synthetic Material
- Biodegradable Synthetic Polymer
- Scaffold
- Artificial Vascular Graft Material
- Hydrogel
- Other
- Biologically Derived Material
- Collagen
- Xenogenic Material
- Others
- Genetically Engineered Material
- Fibroblast
- Neural Stem Cell
- Gene-Activated Matrices
- Other
- Others
Global Regenerative Medicine Market, Segmentation by End User
- Hospitals
- Clinics
- Others
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Some of the prominent industry leaders in the global regenerative medicine market that are included in our report are Amgen Inc., Novartis AG, Medtronic Plc., Stryker Corporation, CryoLife, Inc., Integra LifeSciences Corporation, 3M Company, AbbVie Inc., Zimmer Biomet, and others.
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