Farmington, Feb. 16, 2023 (GLOBE NEWSWIRE) -- The global Regenerative Medicine Market was valued at US$ 29.86 Billion in 2022 and is projected to reach USD 153.05 Billion by 2030, growing at a CAGR of 26.3% from 2023 to 2030. Regenerative medicine is a new discipline that aims to repair, replace, or regrow damaged organs or tissues using cells, tissues, or genetic material. It can treat and possibly cure cancer, Parkinson's disease, Alzheimer's disease, diabetes, renal disease, and heart disease, as well as other diseases that are difficult to treat, persist a long time, or are incurable. The global funding for this sector increased from USD 19.9 billion in 2020 to USD 22.7 billion in 2021, according to the Alliance for Regenerative Medicine (ARM) 2021 report. This will contribute to the research costs for 2,406 goods. This expansion is a result of technological advancements in the field of gene therapy, such as the first in-vivo CRISPR therapy in 2021.
Request Sample Copy of Report “Regenerative Medicine Market Size, Share & Trends Estimation Report By Product (Cell Therapy, Gene Therapy, Tissue Engineering, Platelet Rich Plasma),By Application (Orthopedics, Wound Care, Oncology, Rare Diseases, Others), By Distribution Channel (Hospitals, Clinics, Others), By Region, And Segment Forecasts, 2023 - 2030”, published by Contrive Datum Insights.
In addition, chronic hereditary disorders are on the rise, and both wealthy and developing nations are increasing their health care expenditures. For instance, in July 2022, the National Heart, Lung, and Blood Institute (NHLBI) awarded USD 557,000 to Washington University in order to investigate the efficacy of a newly engineered TRIM72 (ETRIM72) protein in repairing blood vessels and skeletal muscles in diabetic mice with critical limb ischemia (CLI).
Regenerative Medicine Market Recent Developments:
- In June 2022: Bristol Myers Squibb Company receives US FDA approval for its CAR T-cell therapy Breyanzi. For patients with primary refractory or relapsed large B-cell lymphoma (LBCL) who are not eligible for transplant.
- In June 2022: Avista Therapeutics teamed up with F. Hoffmann La Roche Ltd to develop a new AAV gene therapy vector for eye diseases.
- In April 2022: Gilead Company's Kite received US FDA approval for Yescarta CAR T-cell therapy to treat adult patients with large B-cell lymphoma.
Regenerative Medicine Market Segmentation Analysis:
In 2021, the cell treatment category dominated the market. Increasingly, the products of this industry are used to treat autoimmune diseases, cancer, infectious diseases, and joint injuries. This has led to an increase in product sales within this market category. Gene therapy is predicted to grow at the highest CAGR during the next five years. This is because gene therapy has significant advantages over conventional therapies, including greater clinical outcomes and the ability to target desirable locations.
Orthopedics held the greatest share of the global regenerative medicine market in 2021. This was due to the fact that osteoarthritis and bone injuries become more prevalent over time. This has caused consumers to use these goods to help them recover more quickly and experience less pain and discomfort, which is fueling the expansion of this market segment. During the projected period, it is anticipated that the oncology section will develop faster than the other segments. As a result of factors such as the increased incidence of cancer, cancer patients have a great deal of unmet demands. To address this requirement, numerous promising novel medicines have been developed, such as CAR-T cell therapy.
In 2021, hospitals were anticipated to have the largest market share and grow at the fastest rate. The segment's growth is aided by the fact that hospitals are doing more surgeries and the government is becoming more involved and providing more assistance. This provides a boost to large enterprises who sell these products. In 2021, the segment belonging to the clinic held the second-largest market share..
Regional Outlook:
The North American market was expected to be worth $10.50 billion in 2021, and it will likely remain the top market during the following five years. New technology, the rapid spread of cell and gene therapy, and the approval of new products have all contributed to the expansion of this industry. In May 2022, for instance, the FDA granted the Regenerative Medicine Advanced Therapy (RMAT) designation to obecabatagene autoleucel (obe-cel), a CAR T-cell therapy developed by Autolus Therapeutics for the treatment of R/R B-acute lymphocytic leukaemia that is undergoing a clinical trial.
Europe is projected to be the second-highest-earning market, thanks to improved government guidelines and payment arrangements for these medicines. The industry is also anticipated to expand in Europe, where a large number of research institutes receive increased funding from the government.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | 26.3% from 2023 to 2030 |
| Market Size in 2022 | USD 29.86 Billion |
| Revenue Forecast by 2030 | USD 153.05 Billion |
| By Product | Cell Therapy, Gene Therapy, Tissue Engineering, Platelet Rich Plasma |
| By Applications | Orthopedics, Wound Care, Oncology, Rare Diseases, Others |
| By Distribution Channel | Hospitals, Clinics, Others |
| By Companies | 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), and Others |
| Base Year | 2022 |
| Historical Year | 2017 to 2021 |
| Forecast Year | 2023 to 2030 |
Regenerative Medicine Market Dynamics
Market Drivers:
There is an increasing demand for improved therapies for cancer, diabetes, skin disorders, musculoskeletal diseases, chronic wounds, burns, and cardiovascular disease (CVD). In addition, this has resulted in an increase in the funds available for research into regenerative medicine. High costs are associated with the production and development of new cell therapies, gene therapies, and tissue-engineered products, resulting in an increasing demand for funding.
Market Restraints:
As regenerative medicine improves, it is conceivable that the necessary abilities will also evolve. Biomanufacturing for regenerative medicine is expanding rapidly, making it difficult to locate individuals with the necessary expertise who are also readily available. Even though there is a substantial market for cell and gene therapies (CGT), it is difficult to produce them due to a lack of experienced labourers.
Regenerative Medicine Market Key Segments Covered:
Top Market Players:
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), and Others.
By Product
- Cell Therapy
- Gene Therapy
- Tissue Engineering
- Platelet Rich Plasma
By Application
- Orthopedics
- Wound Care
- Oncology
- Rare Diseases
- Others
By Distribution Channel
- Hospitals
- Clinics
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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