Ottawa, April 26, 2024 (GLOBE NEWSWIRE) -- According to Precedence Research, the global regenerative medicine market size is calculated at USD 35.82 billion in 2024. Regenerative medicines are used in advancing healthcare, such as new treatments for injuries and diseases and gene therapies.
Regenerative Medicine Market Revenue, By Region ($ Million)
| Region | 2019 | 2020 | 2021 | 2022 |
| North America | 4,493.2 | 5,990.8 | 9,835.4 | 11,836.5 |
| Europe | 3,091.9 | 4,101.7 | 6,700.1 | 8,022.7 |
| Asia Pacific | 1,121.2 | 1,549.0 | 2,635.1 | 3,286.0 |
| LAMEA | 361.1 | 508.8 | 877.3 | 1,102.9 |
Regenerative Medicine Market Revenue, By Product ($ Million)
| Product | 2019 | 2020 | 2021 | 2022 |
| Cell Therapy | 5,288.9 | 7,051.7 | 11,577.1 | 13,932.5 |
| Gene Therapy | 739.9 | 993.4 | 1,642.5 | 1,990.5 |
| Tissue Engineering | 2,538.2 | 3,421.6 | 5,679.6 | 6,910.7 |
| Small Molecules & Biologics | 500.4 | 683.5 | 1,148.9 | 1,414.4 |
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The regenerative medicine market deals with regenerating, engineering, or replacing animal or human organs, cells, or tissues to restore normal functions. Regenerative medicine can include growing organs or tissues in laboratories and then implanting them into the body when it does not recover itself. Regenerative medicines focus on applying and developing new treatments to restore functions and to heal organs or tissues lost because of defects, damages, aging, or diseases.
Regenerative medicines are also used in tissue engineering, cell therapies, stem cells, and immunomodulation therapy. Regenerative medicine helps to support the body in restoring, repairing, and regenerating itself to a state of well-being and for unsatisfied patient needs among many medical specialties.
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Key Insights
- North America dominated the market with the largest market share of 48.57% in 2023.
- Asia-Pacific is estimated to expand the fastest CAGR of 23.60% during the forecast period of 2024-2033.
- By product type, the stem cell therapies segment has accounted more than 57% of market share in 2023.
- By product type, the tissue engineering segment has held the significant market share of 28.67% in 2023.
- By application type, the musculoskeletal application segment dominated the market in 2023.
- By application type, the oncology application segment is the fastest-growing during the forecast period.
Regional Stance
North America dominated the regenerative medicine market in 2023. The increasing incidence of joint diseases and bone diseases and advanced technologies in stem cell therapy and tissue engineering are the main factors that are causing the growth of the North American region. The emergency requirement for CAR-T cell therapies and rising investments in developing new regenerative drugs in the United States of the North American region help the growth of the market.
The U.S. regenerative medicine market size reached USD 13.44 billion in 2023 and is projected to surpass around USD 83.26 billion by 2033, expanding at a CAGR of 20% from 2024 to 2033.
Rising genetic diseases and trauma incidences contribute to the growth of the market. Stem cell therapy is used in the United States for medical treatments like the treatment of blood disorders and cancer, as well as specific diseases affecting cartilage, skin, and bone. The USFDA regulates the use of stem cell therapy for some stem cell treatments.
- In October 2023, the first cell therapy manufacturing facility to proceed with regenerative medicine on a worldwide scale was launched by Bayer AG in Berkeley, California.
Asia-Pacific is estimated to be the fastest-growing region during the forecast period of 2024-2033. The supply chain of regenerative medicine therapies is growing in the Asia-Pacific region. In the CRO/CDMO space of Asia, growth is increasing. They build a hospital network that supports the development of the regenerative medicine market. Countries like Japan, China, India, and South Korea contribute to the growth of the region. Among all the Asian countries, Japan has a very large influence on the biotechnology and pharmaceutical markets, both of which are responsible for the market’s growth. China, being the largest economy, provides endless opportunities for the expansion of the market.
- In April 2023, South Korean bio-regenerative medical firm CG Bio launched a new US corporation, CG MedTech, to focus on marketing and developing tissue products.
- In May 2023, Sysmex launched the Clinical Flow Cytometry System in Japan. Flow Cytometry is a measuring device that uses FCM technology. Universities and pharmaceutical manufacturers utilize it in regenerative medicines, clinical testing, cancer research, and other fields.
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Scope of Regenerative Medicine Market
| Report Coverage | Details |
| CAGR | 18% from 2024 to 2033 |
| Market Size in 2023 | USD 29.42 Billion |
| Market Size in 2024 | USD 35.82 Billion |
| Market Size by 2033 | USD 154.05 Billion |
| Largest Market | North America |
| Base Year | 2023 |
| Forecast Year | 2024 to 2033 |
| Historical Year | 2021-2022 |
| Segments Covered | By Product, By Material, By Application, By End User, and Region |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Report Highlights
By Product Type
The tissue engineering segment dominated the regenerative medicine market in 2023. Tissue engineering combined with inductive factors, cells, and scaffolds to replace or regenerate diseased or damaged tissue. Regenerative medicine is used in tissue engineering, along with other procedures, such as immunomodulation, cell-based therapy, and gene therapy, to induce organ or tissue regeneration in vivo. Regenerative medicine is a large field that includes tissue engineering and self-healing research, where the body uses its system, sometimes with the help of biological materials, to rebuild organs and tissues or to regenerate cells.
The stem cell therapies segment is the fastest-growing during the forecast period. Stem cell therapy is also called regenerative medicine. It helps in repairing injured, dysfunctional, and diseased tissue by the use of stem cells and their derivatives. Applications of cell therapies in regenerative medicines include regenerating damaged cartilage in joints, improving weakened immune systems, urinary problems, neurological disorders, autoimmune diseases, spinal cord injury, and treating cancers, which helps in the growth of the segment.
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By Application Type
The musculoskeletal application segment dominated the regenerative medicine market in 2023. Treatment and diagnosis of problems arising from the musculoskeletal systems are treated with the help of regenerative medicine. This includes diseases and injuries affecting the bones, joints of spines, limbs, and muscles. PRP, MSC therapy, and IRAP-induced ACS are regenerative medicines that are used for musculoskeletal injuries.
The oncology application segment is the fastest-growing during the forecast period. Oncology, also known as cancer immunotherapy, is a form of regenerative medicine. Cancer immunotherapy helps in engineering, replacing, regenerating, or activating the immune system to fight against cancer. Cancer immunotherapy is the most commonly used and promoted form of regenerative medicine. Regenerative medicine is used to help cancer patients understand cancer biology and cancer treatment. MSC regenerative medicine may used for the treatment of tumor sites.
Market Dynamics
Driver
Rising senior population
An increased proportion of the senior population is the main driver of the regenerative medicine market. As the senior population increases, degenerative problems and age-related illnesses increase, and this leads to the need for treatments and contributes to the growth of the market. For the treatments of these patients, regenerative medicine is required as age increases. There is a slight decrease in the regenerative properties of many tissues due to age-dependent changes in tissues. Regenerative medicines and anti-aging are involved in the process of reducing harmful elements that cause death or diseases in cells and also modifying these cells to get back to their healthy, normal functions.
Restraint
Reimbursement and manufacturing
The significant challenge for regenerative medicine nowadays is reimbursement and manufacturing, both of which are barriers to the regenerative medicine market. In the fast-moving field of gene therapy and cell therapy, regulation and policy may fail to keep up with scientific innovation. In the manufacturing case, developers and regulators struggle to standardize processes essential for the transition from the making of small-scale batches of therapies to use in clinical trials to the high-scale batches essential by full-scale marketing. The manufacturing processes of gene therapies and cell therapies are more complex than those of other drugs.
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Opportunity
Increase in tissue engineering.
Tissue engineering become a transformative field in modern healthcare, providing a creative approach toward replacing, regenerating, and repairing lost or damaged organs or tissues. This helps address the limitations of traditional therapies, revolutionize medical treatments, and improve the quality of life for many individuals. As technological capabilities and scientific understanding increase, tissue engineering development will help and contribute to the growth of the regenerative medicine market. Tissue engineering helps in a combination of biochemical biomaterials and cell factors for creating functional tissues, which are copies of natural tissue functions and properties. At that time, regenerative medicine helps in natural healing mechanisms to replace damaged organs or tissues. These also help to offer personalized therapeutic solutions and overcome the challenges of reducing chronic diseases and organ shortages for transplantation.
Recent Developments
- In April 2023, the Institute for Regenerative Medicine was launched by Mount Sinai.
- In June 2023, a new program geared toward commercializing modernization in regenerative medicine was launched by Case Western Reserve University.
- In September 2023, address regenerative therapies for skin conditions was launched by Lynch Regenerative Medicines Inc. They use their patented technology for underserved skin conditions treatments for both advanced and aesthetic wound care applications.
- In December 2023, Sonicated PRP, a cutting-edge Hair Generation Therapy, was launched by Hairline International Hair and Skin Clinic, one of the leading hair clinics.
- In March 2024, home-based medical services worldwide were launched by Rebirth Clinics, a global leader in regenerative medicine products and services.
- In March 2024, the US National Science Foundation (NSF) Engine grant allowed the inauguration of Axiom Space, which collaborated with Wake Forest Institute for regenerative medicine.
Regenerative Medicine Market Key Players
- AstraZeneca
- Aspect Biosystems
- Amgen, Inc.
- Baxter
- Integra LifeSciences Corporation
- Medtronic plc
- MiMedx Group
- Novartis AG
- Smith & Nephew plc
- Shenzhen SibionoGeneTech Co., Ltd.
Market Segmentation
By Product
- Stem Cell Therapies
- Gene Therapies
- Cell Therapies
- Tissue-Engineering
- Small Molecules & Biologics
By Material
- Synthetic material
- Biodegradable synthetic polymers
- Scaffold
- Artificial Vascular Graft
- Materials Hydrogel Material
- Biologically derived material
- Collagen
- Xenogeneic material
- Genetically Engineered Material
- Deoxyribonucleic Acid Transfection Vectors
- Genetically Manipulated Cell
- Three-Dimensional Polymer Technology
- Transgenics
- Fibroblast
- Neural Stem Cell
- Gene-Activated Matrices
- Pharmaceutical
- Biologics
- Small Molecules
By Application
- Wound Care
- Musculoskeletal
- Ophthalmology
- Oncology
- Cardiovascular
- Dermatology
- Neurology
- Others
By End User
- Hospitals & Clinics
- Commercial Industries
- Government & Academic Research Institutes
By Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- United Kingdom
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of Middle East & Africa
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