Worldwide Regenerative Medicine Market Size, Opportunities for Revenue Growth, and Future Forecast

Regenerative Medicine Market

Growth Factors Driving the Market: The Regenerative Medicine 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.

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.

MarketsandMarkets™ View on Revenue: The global regenerative medicine market is expected to reach USD 17.9 billion by 2025 from USD 8.5 billion in 2020, at a CAGR of 15.9%.

Industry Segmentation in Detailed:

Tissue-engineered products segment accounted for the largest share of the regenerative medicine market;

Based on products, the regenerative medicine market is segmented into tissue-engineered products, cell therapies, gene therapies, and progenitor and stem cell therapies. The tissue-engineered products segment accounted for the largest share in the regenerative medicine market in 2019. The rising funding for the R&D of regenerative medicine products and therapies, and the increasing adoption of tissue-engineered products for the treatment of chronic wounds and musculoskeletal disorders are the major factors driving the growth of this segment.

Musculoskeletal segment accounted for largest share in the market.

Based on applications, the regenerative medicine market is segmented into musculoskeletal disorders, wound care, oncology, ocular disorders, dental, and other applications. In 2019, the musculoskeletal disorders segment accounted for the largest market share. This can be attributed to the rise in geriatric population, increasing number of stem cell research projects, and increase in prevalence of orthopedic diseases.

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Leading Key Players Analysis:

The regenerative medicine market is a highly fragmented market and is dominated by various players offering regenerative medicine products. The major players in this market are 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).

Novartis AG (Switzerland) Novartis AG is one of the the largest player in the regeneartive medicine market in 2019. In order to maintain its position in the market, the company has been focusing on the innovations, and breakthrough product approvals for the treatment of cancer. For instance, in August 2017, Novartis received the FDA approval for CAR-T cell therapy, Kymriah (CTL019), which is used for the treatment of cancer. Kymriah got the EU approval in August 2018. Novartis also focused on the inorganic strategies in order to enhance their dominance in the regenerative medicine market. For instance, Novartis received EU approval for one-time gene therapy, Luxturna, developed by Spark Therapeutics, to restore vision in people with rare and genetically-associated retinal disease.

Geographical Trends in Detailed:

The global regenerative medicine 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 regenerative medicine market. The growth in the North American regenerative medicine 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.

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