USD 9.59 billion
Global Regenerative Medicine Market Size, Share, Growth Analysis, By Product(Therapeutics, stem cell & progenitor cell-based therapeutics and services), By Therapeutic Category(Dermatology, musculoskeletal), By Distribution Channel(Hospitals, clinics and others) - Industry Forecast 2024-2031
Report ID:
SQMIG35I2129 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
92 |
Figures:
76
Global Regenerative Medicine Market Insights
Regenerative Medicine Market size was valued at USD 9.59 billion in 2019 and is poised to grow from USD 12.2 billion in 2023 to USD 83.6 billion by 2031, growing at a CAGR of 27.2% in the forecast period (2024-2031).
The field of regenerative medicine includes various techniques, i.e. the use of materials and newly generated cells, as well as other combinations thereof, to replace damaged tissue, to effectively change it both morphologically and functionally, or to promote tissue healing. The primary goal of this is to grow new tissue or organs for patients who have suffered injury or irreversible tissue damage. It is defined by the National Institutes of Health as the process of developing living, functional tissue to restore or restore tissue or organ function lost due to aging, disease, damage, or congenital abnormalities. It is an interdisciplinary field of study and clinical applications that focuses primarily on the repair, replacement, or regeneration of cells, tissues, or organs. The basic goal of regenerative medicine is to restore function that has been compromised by any cause. It can repair or replace tissues and organs damaged by aging, disease, or trauma, as well as normalize congenital abnormalities. It has many advantages over conventional treatments, one of which is faster recovery. For example, stem cells and platelet-rich plasma enable faster repair of damaged joints and tissues, enhancing the body's natural healing process. Additionally, it helps reduce inflammation and stop the growth of scar tissue. In addition, some promising methods, such as endogenous stem cell stimulation and organoid transplantation to heal small tissue injuries, will drive market growth in the coming years.
Advances in scientific and technological advances in stem cell biology over the past ten years will have a significant and lasting impact on regenerative medicine. This includes the ability to generate pluripotent stem cells from adult body cells and to grow microorganisms from adult stem cells from any of these sources or under controlled culture conditions. Both approaches provide strategies for generating human tissue cells that are functional and can be used for tissue repair and transplantation. Government initiatives in support of reproductive medicine are major factors influencing market expansion. It has been highlighted as an area of critical policy relevance by the European Union (EU) and the Dutch government. In addition, the market in the North American region is booming due to the tremendous growth in the aging population. An organization called the North Carolina Tissue Engineering and Regenerative Medicine Society in the United States works to enhance and advance basic research, industrial development, and instruction in the field of regenerative medicine. Two important government agencies in the United States, NIH, and CIRM raise money for academic translational stem cell research and the development of regenerative medicine. Additionally, rising healthcare spending across the globe is expected to drive the market.
Lack of information and ethical concerns surrounding the use of embryonic stem cells for research and development are expected to hamper the growth of market. As cell therapy is an important component of this, it has a significant impact on the growth rate of the market. High cost of investment, test sensitivity, robustness and reproducibility concerns, challenges in culture/diffusion and subsequent handling of challenges may be the major limitations of the market.
US Regenerative Medicine Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Therapeutics
Fastest Growth
Therapeutics
Growth Rate
27.2% CAGR
Global Regenerative Medicine Market ($ Bn)
Country Share for North America Region (%)
Global Regenerative Medicine Market By Product ($ Bn)
Global Regenerative Medicine Market By Product (%)
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Global Regenerative Medicine Market Segmental Analysis
Global Regenerative Medicine Market is segmented on the basis of product, therapeutic category, distribution channel and region. By product, the market is segmented into therapeutics, stem cell & progenitor cell-based therapeutics and services. By therapeutic category, market is segmented into dermatology, musculoskeletal, immunology & inflammation, oncology, cardiovascular, ophthalmology, and others. By distribution channel, market is segmented into hospitals, clinics and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Regenerative Medicine Market Analysis by Product
In 2020, the therapeutics segment accounted for the highest revenue share of over 56%, and this dominance is expected to continue throughout the forecast period. Primary cell-based therapies are the most developed medicines accessible due to their use for various therapeutic purposes and early clinical applications.
The stem cell and progenitor cell-based therapeutics segment is predicted to grow at the fastest during the forecast period, owing to significant investments in stem cell research, as well as changes in regulatory rules to allow for their usage in clinical applications. The highest revenue share is expected to go to allogeneic stem cell-based therapies, while the fastest CAGR is seen in autologous therapies.
Regenerative medicine development is supported by major vendors with specialized technologies that provide management, manufacturing, characterization, engineering, and quality control services as well as other facilities for clinical trials and other research. Therefore, the service sector is expected to expand rapidly due to the increase in R&D and clinical trials of regenerative therapies.
Regenerative Medicine Market Analysis by Therapeutic Category
The oncology market accounted for more than 31% of the revenue in 2021, as regenerative therapies are used the most. Effective cancer treatment options have been introduced as a result of the high incidence of cancer. Various government agencies and commercial corporations have invested significantly in cancer research and the development of regenerative and advanced cell therapies. Additionally, the segment is expected to expand through global initiatives to reduce the burden of cancer.
With the increasing prevalence of musculoskeletal disorders, the presence of a wide product range is expected to improve the revenue of the musculoskeletal segment. The development of this field has been accelerated by the emergence of effective regenerative therapies including stem cells and tissue engineering that repair tissues and regain their functional strength. Regenerative and cell-based therapies are available to this segment and have the potential to be beneficial.
Furthermore, during the developmental phase, many innovative pathways stimulate tissue engineering. These include biomaterials and drug delivery methods to stimulate and regulate the immune system as well as influence cell replication. The increased complexity of the wound healing process in critical conditions such as diabetes and HIV has encouraged dermatological R&D techniques.
Global Regenerative Medicine Market By Product, 2023 (%)
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Global Regenerative Medicine Market Regional Insights
North America dominated the global market in 2021, accounting for more than 45% of the total revenue. This is due to the presence of a large number of major players in the United States. The presence of research institutions interested in the development of innovative treatments, as well as the availability of advanced technologies, contributes to a large number of clinical trials in the region. Financial availability, as well as many initiatives by government and private organizations, contributes to the largest revenue stream from the United States. For example, the US The Department of Health and Human Services 2020 A New Vision, campaign places regenerative medicine at the forefront of healthcare.
Asia Pacific is expected to witness the fastest CAGR during the forecast period due to the creation of infrastructure and facilities to accelerate stem cell research in the growing economies of the region. In April 2013, the Japanese Ministry of Health, Labor, and Welfare enacted the Regenerative Medicine Act, which accelerated the clinical development of regenerative and cell-based medicine. Similarly, the Chinese government has allowed various human embryonic stem cell research operations, encouraging researchers to investigate the clinical potential of these cells.
Global Regenerative Medicine Market By Region, 2024-2031
- Largest
- Fastest
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Global Regenerative Medicine Market Dynamics
Regenerative Medicine Market Drivers
Increasing R&D Spending That Produces Innovative Product Launches
- The growing investment in this market has resulted in complete research and development activities, as various investors support start-up companies that focus on the development of new treatments and products in the market. This has paved the way for large-scale mergers, research collaborations, and partnerships to profit from R&D operations. Apart from private players, various government and government-funded research institutes are actively investing in this industry to introduce effective treatment options for various chronic diseases like cancer, Parkinson's disease, diabetes, kidney disease, cardiovascular disease, and others.
Innovative Pipeline Candidates
- Regenerative medicine is expanding its application areas beyond tissue regeneration and wound care to include cardiology, neurology, oncology, and other professions. Many pharmaceutical and life science businesses are undertaking clinical trials to cement their dominance over traditional treatment methods, claiming the launch of possible candidates in development, which will result in the introduction of fresh products and therapies to the market.
Regenerative Medicine Market Restraints
High treatment costs and insufficient reimbursement policies
- The high cost of therapy with these items, as well as the lack of reimbursement norms, are the major challenges limiting the market expansion. For example, because most stem cell therapies are experimental or investigational drugs or treatments, Medicare insurance coverage is limited, resulting in significant out-of-pocket payments. It only covers the cost of FDA-approved treatments, such as allogeneic transplants. Also, due to the lack of coverage provided by major insurance providers, the only option left for patients is to pay treatment costs out of pocket or through crowd funding, which delays treatment and inhibits market growth. Furthermore, there are few approved drugs for a wide range of patient populations suffering from numerous genetic disorders, which are prohibitively expensive and may have significant negative impacts by limiting market expansion.
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Global Regenerative Medicine Market Competitive Landscape
The global regenerative medicine market is fragmented and highly competitive. Key industry players are focused on product developments, new product launches, and geographical expansions to gain a significant amount of market share.
Regenerative Medicine Market Top Player’s Company Profiles
- Integra Lifesciences Holdings Corporation
- Organogenesis Inc.
- Vericel Corporation
- NuVasive, Inc.
- Osiris Therapeutics, Inc.
- Acelity L.P. Inc. (KCI)
- Stryker Corporation
- Medtronic PLC
- Baxter International Inc.
- Zimmer Biomet Holdings, Inc.
- Allergan PLC (AbbVie Inc.)
- Smith & Nephew PLC
- MiMedx Group, Inc.
- Integra Holdings
- Mimedx Group
- Misonix, Inc.
- Cryolife, Inc.
- Terumo Corporation
- Orthofix Medical Inc.
- Wright Medical Group N.V.
Regenerative Medicine Market Recent Developments
- In June 2022, Bristol Myers Squibb Company received FDA approval for CAR T cell Therapy Breyanzi. It is for people who cannot receive a transplant and have primary refractory or relapsed large B-cell lymphoma (LBCL).
- In June 2022, Avista Therapeutics announced collaboration with F. Hoffmann La Roche Ltd to develop innovative AAV gene therapy vectors for eye disorders.
- In April 2022, Kite, a Gilead Company, got FDA approval for Yescarta CAR T-cell therapy to treat adult patients with large B-cell lymphoma.
- In March 2022, Novartis and Voyager Therapeutics signed a licensing option agreement for next-generation gene therapy vectors for neurological diseases.
- In February 2022, Santhera Pharmaceuticals and SEAL Therapeutics signed a strategic partnership agreement to work on the development of gene therapies for LAMA2-deficient congenital muscular dystrophy (LAMA2 MD).
Global Regenerative Medicine Key Market Trends
- One of the dominant trends in the global market for regenerative medicine is the use of strategic acquisitions by major companies to increase their R&D capabilities. Products in this market include unique techniques developed from living cells and proteins, enzymes, antibodies, antibody-drug conjugates (ADC), and genes and cellular components that lead to lifesaving drugs for a variety of chronic diseases. However, when it comes to putting these technologies into clinical practice, there can be a discrepancy between aspirations and reality. Some significant businesses are focusing on acquisitions to boost their R&D capabilities to bridge this gap and develop research into diverse clinical applications.
Global Regenerative Medicine Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global regenerative medicine market analysis, by product, in 2021, the therapeutics segment accounted for the highest revenue share of over 56%, and this dominance is expected to continue throughout the forecast period. By therapeutic category, the oncology market accounted for more than 31% of the revenue in 2021, as regenerative therapies are used the most. Effective cancer treatment options have been introduced as a result of the high incidence of cancer. North America dominated the global market in 2021, accounting for more than 45% of the total revenue. This is due to the presence of a large number of major players in the United States. Asia Pacific is expected to witness the fastest CAGR during the forecast period due to the creation of infrastructure and facilities to accelerate stem cell research in the growing economies of the region. Lack of information and ethical concerns surrounding the use of embryonic stem cells for research and development are expected to hamper the growth of the market.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 9.59 billion |
| Market size value in 2031 | USD 83.6 billion |
| Growth Rate | 27.2% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Regenerative Medicine Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Regenerative Medicine Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Regenerative Medicine Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Regenerative Medicine Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Regenerative Medicine Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Regenerative Medicine Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Regenerative Medicine Market Report Snapshots
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