Global Regenerative Medicine Market – Analysis and Forecast (2021-2027)

Industry Insights by Product (Cell-Based Products (Allogeneic Products, and Autologous Products), and Acellular Products), by Therapy (Cell Therapy, Immunotherapy, Tissue Engineering, and Gene Therapy), and by Application (Orthopedic & Musculoskeletal Disorders, Central Nervous System Diseases, Diabetes, Dermatology, Oncology, Cardiology, and Other Applications)

Industry Overview

The global regenerative medicine market is growing at a significant rate, due to the mounting occurrence of chronic diseases, degenerative diseases, and genetic disorders, and expanding the geriatric population. A different product such as cell-based products and acellular products contributed to the regenerative medicine market size. The market has witnessed a high demand for cell-based products due to mounting alertness about stem cell therapy, and escalating funding from several agencies.

The emerging technological advances, a mounting number of clinical trials, and the mounting number of partnerships and collaborations are the major trends of the regenerative medicine market.

Market Segmentation

Insight by Product

On the basis of product, the market is subdivided into cell-based products, and acellular products. Of all products, cell-based products segment accounted the largest share in the market, due to mounting alertness about stem cell therapy, and escalating funding from several agencies. The cell-based products are further subdivided into allogeneic products and autologous products.

Insight by Therapy

On the basis of therapy, the market is subdivided into cell therapy, immunotherapy, tissue engineering, and gene therapy. Of all the therapy, the immunotherapy is expected to grow at the fastest rate in the market. In addition, the cell therapy accounted the largest share in the market, due to escalating alertness about the advantages of stem cell therapies, mounting funding from various private establishments for the R&D of cell therapies, and rising preference of the healthcare manufacturing regarding stem cell research.

Insight by Application

On the basis of application, the market is subdivided into orthopedic & musculoskeletal disorders, central nervous system diseases, diabetes, dermatology, oncology, cardiology, and other applications. Among all applications, the oncology application is expected to grow at the fastest rate in the regenerative medicine market due to the mounting occurrence of cancer, and expanding demand for cancer treatment.

Industry Dynamics

Trends

The emerging technological advances, a mounting number of clinical trials, and the mounting number of partnerships and collaborations are the major trends of the regenerative medicine market.

The mounting number of clinical trials and upsurge in support and initiatives by the organization for the approval of products would fuel the growth of the market.

Growth Drivers

The mounting occurrence of chronic diseases, degenerative diseases, and genetic disorders, development of stem cell technologies, government & private funding to reinforce the development of regenerative medicine, mounting alertness about the advantages of stem cell therapies and surge in partnerships to speed up growth and commercialization are the primary growth drivers for regenerative medicine market. For instance, according to GLOBOCAN globally, approximately 14.1 million new cancer cases were diagnosed and there were 8.2 million cancer deaths in 2012. In addition, according to the World Health Organization (WHO), in 2015 approximately 8.8 million people died due to cancer.

Escalating need for organ transplantation, the upsurge in healthcare expenditure, mounting fondness of the healthcare industry towards stem cell research, the upsurge in alertness concern among people, expanding geriatric population and robust product pipeline is also facilitating the growth for the regenerative medicine market.

Challenges

Ethical matters with the usage of embryonic stem cell for research and development, product failure and recalls, and absence of well-defined regulatory strategies are the major challenges for the growth of regenerative medicine market.

Opportunities

The escalating demand for organ transplantation, upsurge in acceptance of technology for peripheral artery diseases, mounting perspective in emerging economies such as India, and China, emergence of utilization of nanomaterial in drug delivery, wound care and immunomodulation, extensive product pipeline, and beneficial prospects for stem cell technologies are some of the opportunities in the regenerative medicine industry.

Escalating demand of organ transplantation is creating ample opportunity for the regenerative medicine market. Regenerative medicine and organ transplantation both impart the identical needed goal i.e. to renovate or substitute organ function. The technology helps in engineering damaged tissue and organs through encouraging the body’s own repair mechanisms to functionally restore previously irreversible tissues or organs. Moreover, if a restored organ’s cells would be resultant from the individual tissue or cells, this would resolve the difficulty of the scarcity of organs for donation, and the problem of organ transplant refusal.

Geographic Overview

Geographically, North America is the largest regenerative medicine market as in the region the occurrence of chronic diseases and genetic disorder. For instance, according to GLOBOCAN in the U.S., approximately 1.6 million new cancer cases were diagnosed and there were 0.6 million cancer deaths in 2012. In addition, expanding the geriatric population, technological advancement, the upsurge in healthcare expenditure and a mounting number of stem cell research are also up surging growth of the North American regenerative medicine market.

Asia-Pacific is observed to witness the fastest growth in the market, due to mounting research activities. In addition, availability of funding for research, intensifying accessibility to healthcare facilities, the upsurge in healthcare expenditure and mounting occurrence of chronic diseases and genetic disorders are also creating a positive impact on the regenerative medicine market growth in the region.

Competitive Insight

Key players in the regenerative medicine market are catering to the demand of these devices by investing in technologically advanced products in their product portfolio across the globe. In December 2018, Organogenesis Holdings Inc. announced the merger of Organogenesis Inc. and Avista Healthcare Public Acquisition Corp., to accomplish on product development and commercialization competences.

Integra Lifesciences Corporation, Organogenesis Inc., Nuvasive, Inc., Stryker Corporation, Vericel Corporation, Medtronic PLC, Osiris Therapeutics, Inc., and Cook Biotech Incorporated are the key players offering regenerative medicine.