The Regenerative Medicine Market is expected to reach $17.9 billion by 2025, at a CAGR of 15.9%. Market growth is driven by rising investments in regenerative medicine research, and the growing pipeline of regenerative medicine products, and the increase in prevalence of chronic diseases, genetic disorders, and cancer.
Key Players:
3M (US), Allergan plc (Ireland), Amgen, Inc. (US), Aspect Biosystems (Canada), bluebird bio (US), Kite Pharma (US), Integra LifeSciences Holdings Corporation (US), MEDIPOST Co., Ltd. (South Korea), Medtronic plc (Ireland), Anterogen Co., Ltd. (South Korea), MiMedx Group (US), Misonix (US), Novartis AG (Switzerland), Organogenesis Inc. (US), Orthocell Limited (Australia), Corestem, Inc. (South Korea), Spark Therapeutics (US), APAC Biotech (India), Shenzhen Sibiono GeneTech Co., Ltd. (China), Smith Nephew plc (UK), Stryker Corporation (US), Takeda Pharmaceutical Company Limited (Japan), Tego Science (South Korea), Vericel Corporation (US), and Zimmer Biomet (US).
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Regenerative Medicine Industry Size, Share and Dynamics
Driver: Growing prevalence of chronic diseases, genetic disorders, and cancer
The incidence and prevalence of chronic diseases such as CVD, cancer, diabetes, ulcers, and genetic disorders such as cystic fibrosis have increased significantly across the globe, over the last few decades. The increased incidence and complexity of wounds such as infections, ulcerations (leg or foot ulcers), and surgical wounds, can be a result of diabetes and obesity, which will require treatments and incur exorbitant medical expenses.
Opportunity: Implementation of the 21st Century Cures Act
The 21st Century Cures Act was signed into law in the US in December 2016. Among other objectives, to advance regenerative medicine research and medical innovation this new law has been enacted and covers various provisions that may impact the approval and development of several products in the coming years.
Restraint: High cost of cell and gene therapies
Patients suffering from terminal illnesses and serious disorders requires cell and gene therapies which represent a significant scientific and medical advancement. These therapies are helping to transform how diseases are treated and potentially cured. Furthermore, such therapies will eventually enable doctors and medical professionals to infuse genes/cells via injectable means in order to avoid a series of drugs and multiple surgeries in patients. However, despite the fact of these therapies being lifesavers and more effective compared to the traditional treatments, the response in terms of demand for these therapies is less compared to the anticipation. This can be attributed to the high costs of these therapies and difficulty in obtaining reimbursements and coverage for these therapies.
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This report categorizes the regenerative medicine market into the following segments and subsegments:
By Product
- Tissue-engineered Products
- Cell Therapies
- Autologous Therapies
- Allogenic Therapies
- Gene Therapies
- Progenitor Stem Cell Therapies
By Application
- Musculoskeletal
- Oncology
- Wound Care
- Dental
- Ocular
- Other Applications
North America is the largest regional market for regenerative medicine market
The global market is segmented into four major regions, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW). In 2019, North America accounted for the largest share in the global market. The growth in the North American global market can be attributed to the expansion of the healthcare sector, and the higher adoption of stem cell therapy and cell immunotherapies for the treatment of cancer and chronic diseases, and rise in stem cell banking, tissue engineering, and drug discovery in the region.
Frequently Asked Questions (FAQ):
What are the recent trends affecting the regenerative medicine market?
Who are the key players in the market, and how intense is the competition?
What are the key applications of regenerative medicine products?
Which region is lucrative for the regenerative medicine market?
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