The Global Regenerative Medicine Market in terms of revenue was estimated to be worth $12.2 Billion in 2022 and is poised to grow at a CAGR of 27.2% from 2022 to 2027.
Market growth is driven by the availability of funding and rising investments in RD, increasing clinical trials for stem cell and CAR-T cell therapies, and rising advancements in tissue-engineered products. However, the high treatment cost of RM therapies and issues associated with commercialization and regulatory compliance factors are expected to restrain the market growth during the forecast period.
Attractive Opportunities in the Regenerative Medicine Market
Request for Free Sample Report:
https://www.marketsandmarkets.com/requestsampleNew.asp?id=65442579
Regenerative Medicine Industry Dynamics
Drivers: Availability of funding and rising investments in RD
The rising need for improved therapies for cancer, diabetes, skin diseases, musculoskeletal diseases, chronic wounds, burns, and CVD has resulted in increased research activities. Additionally, this has caused a surge in the availability of funding for regenerative medicine research. The new cell therapies, gene therapy, and tissue-engineered products are expensive in manufacturing development; therefore, there is a rising need for funding. According to the Alliance for Regenerative Medicine (ARM), in 2021, investments reached USD 22,700 million, with key investors like Amgen, Sanofi, and Gilead Sciences, easily surpassing USD 19,900 million in 2020.
Restraints: Shortage of skilled professionals
As regenerative medicine progresses, the skills required are also expected to evolve. Regenerative medicine biomanufacturing is experiencing rapid growth, leading to a gap between the skill sets required by laborers in the workplace and an inability to hire for those skills in the market. Despite robust funding in the cell and gene therapies (CGT) market space, manufacturing there therapies has become challenging due to the shortage of skilled personnel. A limited workforce and restricted knowledge associated with manufacturing novel and emerging therapies contribute to the slow commercialization of CGTs.
Cell therapy products segment accounted for the largest share of the regenerative medicine market, by product”
Based on products, the global market is segmented into cell therapies, gene therapies, and tissue engineering products. The cell therapies products segment accounted for the largest share in the global market. The increasing GMP certification approvals for cell therapy production facilities is the major factor driving the growth of this segment.
Musculoskeletal disorders segment accounted for largest share in the regenerative medicine market, by application
Based on applications, the global market is segmented into musculoskeletal disorders, oncology, dermatology wound care, ophthalmology, cardiovascular diseases, and other applications. The musculoskeletal disorders segment accounted for the largest market share. This can be attributed to the rising research on musculosketal regeneration and prevalence of orthopedic disorders.
North America is the largest regional market for the global regenerative medicine industry
The global market is segmented into four major regions, namely, North America, Europe, Asia Pacific, Latin America and the Middle East and Africa. In 2022, North America accounted for the largest share in the global market. The growth in the North American market can be attributed to rising stem cell banking, tissue engineering, and drug discovery in the region; expansion of the healthcare sector; and the high adoption of stem cell therapy and cell immunotherapies for the treatment of cancer and chronic diseases.
Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=65442579
Prominent players in the global market include Novartis AG (Switzerland), Biogen (US), Sarepta Therapeutics, Inc. (US), Gilead Sciences, Inc. (US), Amgen, Inc. (US), Smith Nephew plc (UK), MEDIPOST Co., Ltd. (South Korea), JCR Pharmaceuticals Co., Ltd (Japan), Takeda Pharmaceutical Company (Japan), CORESTEM Inc (South Korea), Vericel Corporation (US), MiMedx (US), Organogenesis Inc. (US), Medtronic plc (US), Orthocell Ltd. (Australia), Mesoblast Ltd (Australia), BioRestorative Therapies, Inc (US), Pluri Inc. (Israel), Tegoscience (South Korea), Anterogen Co., Ltd. (South Korea), bluebird bio, Inc. (US), APAC Biotech (India), Shenzhen SiBiono Genetech Co., Ltd. (China), Aspect Biosystems (Canada), and Athersys, Inc. (US).
Recent Developments
- In 2022, Novartis announces collaboration with Alnylam to explore targeted therapy to restore liver function.
- In 2020, AbbVie acquired Allergan to enhance its product portfolio in immunology, hematologic oncology, neuroscience, and Allergan aesthetics.
- In 2022, MiMedx announced the launch of Axiofill, an Extracellular Matrix (ECM) Particulate product derived from human placental tissue. Axiofill is a human placental-derived particulate product available for surgical recovery procedures.
Frequently Asked Questions (FAQs):
- What is the projected market value of the global regenerative medicine market?
- What is the estimated growth rate (CAGR) of the global regenerative medicine market for the next five years?
- What are the major revenue pockets in the regenerative medicine market currently?
Get 10% Free Customization on this Report:
https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=65442579
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/regenerative-medicine-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/regenerative-medicine.asp
