Dublin, Dec. 19, 2022 (GLOBE NEWSWIRE) -- The "Regenerative Medicines Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 To 2030" report has been added to ResearchAndMarkets.com's offering.
The global regenerative medicine market is expected to reach $40 billion growing at a CAGR of 18% during the forecast period 2022 to 2030. The death of organs and tissues as a result of disease or organ damage serves as a driving force behind the research and development of new medicines with the potential to regenerate tissues and lessen the need for transplantation. The field of regenerative medicine is an example of an interdisciplinary field that makes use of engineering and biological science ideas to stimulate the regeneration of organs and tissues that have been injured or damaged.
The increasing prevalence of genetic and chronic illnesses is one of the primary factors that is majorly driving the growth of the market for regenerative medicine. Other factors, such as major efforts being made in medical research and development and improvements being made to healthcare infrastructure, are likely to fuel the expansion of the market.
In many developed and emerging regions, the utilization of regenerative medicine requires authorization from the relevant governing bodies. In order to be marketed and sold, products related to regenerative medicine must first obtain a license or approval from the Food and Drug Administration (FDA). Therefore, the most significant obstacle to the expansion of the industry is the severe rules imposed by the government.
Increasing Geriatric Population Remains as the Key Driver
The number of people who are elderly or senior citizens is growing at a rapid rate. The World Health Organization (WHO) estimates that by the year 2050, the global population of adults aged 65 and older would have increased by around 1.5 billion. It is anticipated that the number will climb in developing nations such as China, Japan, India, and South Korea.
There are a variety of health problems that are more prevalent in the elderly population, including cancer, diabetes, high blood pressure, and elevated blood sugar levels. They have a responsibility to use increased caution with regard to their health. As a direct consequence of this, people have to take their medication at predetermined intervals.
The expansion of the market is also being driven by the rising number of elderly people in the world, who are more likely to experience cardiovascular and oncological issues. As a consequence of this, the growing acceptability of organ transplantation is also contributing to the expansion of the market for regenerative medicine. As a consequence of this, during the period covered by the forecast, the expanding population of elderly people would act as a primary driver of growth in the regenerative medicine market.
Expensive Nature of Treatment Hindering the Market Growth
The development of gene and cell treatments has been an enormous step forward in the treatment of individuals who are afflicted with life-threatening conditions and serious conditions. These treatments are contributing to a revolution that is taking place in the manner in which diseases are treated and cured. The demand for these therapies is significantly less than what was anticipated, despite the fact that these medicines are incredibly beneficial in terms of saving lives. This is because of the high prices of these therapies, which are hampering the expansion of the market.
Cancer Immunotherapy Promising Significant Opportunities During the Forecast Period
The development of cancer is a multi-step process that often starts with a pre cancerous lesion and ultimately results in a malignant tumor. Cancer is produced by the change of normal cells into tumor cells during the course of this process. These alterations are brought about by the interaction of many genetic elements within a person.
Cancer is typically treated with a combination of chemotherapy, radiation, and surgery. Because of the innate capability of hematopoietic stem cells and other more mature cells, cancer immunotherapy that makes use of regenerative medicine has the distinct benefit of being able to specifically target and eradicate disease cells. In addition to this, it makes it possible to gain a deeper understanding of cancer cells, which is essential for the creation of successful treatments. As a consequence of this, increasing consumer demand for cancer treatment products, in conjunction with the growing prevalence of the condition, will produce chances for the market's expansion.
Therapeutics Topped the Product Market, While Musculoskeletal Segment Led the Application Market
In terms of the product, the therapeutics category controlled the majority of the global market for regenerative medicine in 2021, holding the greatest market share of 57%. Due to the fact that they can be utilized for a wide number of therapeutic applications, primary cell-based therapies are now the most developed drugs that are available within the therapeutics sector.
With respect to the application, it is anticipated that the musculoskeletal section will be the segment that will present the most opportunities during the period of the forecast. This is because there has been an increase in the number of cases of orthopedic disorders, the number of clinical trials, the number of stem cell research projects, and the availability of a large supply of stem cell products for the treatment of musculoskeletal issues.
North America to Dominating the Market Revenue
In 2021, North America had the greatest revenue share, accounting for more than 41% of total revenue. The presence of a significant number of leading market players in the United States, as well as the presence of research organizations involved in the development of novel treatments and the accessibility of modern technology, all contribute to the high number of clinical trials conducted in North America. In addition, the development of cutting-edge technology for the diagnosis and treatment of chronic disorders, the accessibility of funding from both the private sector and the public sector, and increased spending on healthcare all contribute to a larger share of the regional market for tissue engineering.
Strategic Collaborations to Enhance Market Position of the Market Players
In order to achieve a competitive advantage over their rivals, key players are entering into agreements to collaborate to enhance technical expertise and market reach. In addition to this, prominent players are currently working on the creation of novel products for tissue engineering and the upgradation of their product portfolios in order to meet the demand in the current market.
Market Segmentation
Product
- Cell Therapy
- Gene Therapy
- Tissue Engineering
- Small Molecule & Biologic
Material
- Synthetic material
- Scaffold
- Artificial vascular graft material
- Hydrogel material
- Biologically derived material
- Collagen
- Xenogeneic material
- Genetically Engineered Material
- Genetically Manipulated Cell
- Three-Dimensional Polymer Technology
- Transgenics
- Fibroblast
- Neural Stem Cell
- Gene-Activated Matrices
- Pharmaceutical
- Biologic
Application
- Cardiovascular
- Oncology
- Dermatology
- Musculoskeletal
- Wound healing
- Ophthalmology
- Neurology
- Others
Key questions answered in this report
- What are the key micro and macro environmental factors that are impacting the growth of Regenerative Medicines market?
- What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
- Estimated forecast and market projections up to 2030.
- Which segment accounts for the fastest CAGR during the forecast period?
- Which market segment holds a larger market share and why?
- Are low and middle-income economies investing in the Regenerative Medicines market?
- Which is the largest regional market for Regenerative Medicines market?
- What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
- Which are the key trends driving Regenerative Medicines market growth?
- Who are the key competitors and what are their key strategies to enhance their market presence in the Regenerative Medicines market worldwide?
Companies Mentioned
- Medtronic plc
- Zimmer Biomet Holdings Inc.
- Allergan plc
- Athersys Inc.
- ACell Inc.
- Organogenesis Holdings Inc.
- Tissue Regenix Group plc
- Stryker Corporation
- RTI Surgical Inc.
- Integra LifeSciences Corporation
- ReproCell Inc.
- Baxter International Inc.
For more information about this report visit https://www.researchandmarkets.com/r/f91b21
