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Regenerative Medicine Market Growth, Market Analysis, Business Opportunities and Latest Innovations
The Regenerative Medicine Market is expected to reach USD 40,885.32 million by 2030 at 19.70% CAGR during the forecast period 2022-2030.
Chronic diseases like
cancer and diabetes are spreading at a rapid pace and are increasingly becoming
common in lower-income countries too. This factor in conjunction with an aging
population and changing lifestyle is likely to pose a challenge and exert
massive burden on the global healthcare system. Regenerative medicines are
being highly preferred over other naturally derived medicine sources. They
provide a complete cure for any medical condition through tissue replacement.
Surging incidences of
degenerative diseases and a shortage of organs for transplantation also spur
the growth of the global regenerative medicine
market. Regenerative medicines
have proven to be effective in the treatment since it aims to replace or
restore human cells or tissues and over the time, the injured tissue starts
functioning normally, thereby eliminating the need for organ transplant.
Advances made in stem cell
therapy and its soaring popularity also reflects positively on the growth of
the global regenerative medicine market. Stem cell therapy participates in the
process of regenerative medicine and assists in speedy recovery.
Furthermore, the recent
progress made in the field of material engineering and cell biology also acts a
driving force to the growth of the market. Utilization of nanomaterials in
wound care, drug delivery, and immunomodulation has opened up new growth
avenues for the regenerative medicine market.
However, regenerative
medicinal treatment is not paid for by any insurance plan and is the cost of
treatment of regenerative medicine is exorbitantly high. This results in a drop
in adoption rate which might restrict the growth of the market over the
forecast period.
Segmentation
The global regenerative medicine
marketing has been segmented based on material,
therapy, and application. By material, the global regenerative medicine market
has been segmented into synthetic materials, genetically engineered materials,
pharmaceuticals, biologically derived materials, and others. By therapy, the
global regenerative medicine market has been segmented into stem cell biology,
cellular therapy, tissue engineering, and others. By application, the global
regenerative medicine market has been segmented into cardiovascular,
orthopedics, neurology,
Urology, oncology,
orthopedic, dermatology, cord blood, and others.
Regional Analysis
North America, Europe, Asia
Pacific, and the Middle East & Africa are the key markets for regenerative
medicine.
North America is dominating
the global regenerative medicine market and accounts for more than 44% share of
the global market. Rapid advances in technology, the presence of major players
in the region and substantial investment in stem cell & oncology can be
attributed to the growth of the market in North America. In addition, the
region is home to various organizations such as National Stem Cell Foundation,
International Society for Stem Cell Research, Alliance for Regenerative
Medicine, National Institutes of Health, National Cancer Institute which are
engaged in R&D of regenerative medicine which further stimulates the growth
of the North America regenerative medicine market. North America market for
regenerative market is expected to grow at a CAGR of 22.3% over the forecast
period.
Europe follows North
America closely and is expected to grow at a CAGR of 22.5% over the forecast
period.
Asia Pacific is projected
to be the fastest growing market for regenerative market. High investments in
healthcare research by emerging economies in the region. Presence of a flexible
regulatory environment for clinical adoption of cell-based research therapies
in the economies of Japan and China are expected to reflect positive growth.
Competitive Landscape
The Key Regenerative Medicine Market
player include Baxter
International, Inc., CryoLife, Sanofi, BioMimetic Therapeutics, Osiris
Therapeutics, LifeCell Kinetic Concepts, Advanced Cell Technology, Stryker and
RTI Surgical, Medtronic, LifeSciences, StemCells Inc, Organogenesis, and Cook
Biotech are some of the eminent players in the global regenerative medicine
market.
Industry Updates
- In November 2018, IU Philanthropic
Venture invested in Vascugen Inc., a regenerative medicine company.
Vascugen is focused on finding therapies to repair human tissue damaged by
reduced blood flow will utilize the fund to produce clinical-grade
- In October 2018, a public-private
platform, Translational and Clinical Bio-Manufacturing (TCBM), was
launched which will share expertise in the translation of research results
into clinical application to promote Regenerative medicine.
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