Research report presented by UnivDatos, Emphasis on Product Type (Cell Therapy, Gene Therapy, Tissue Engineering, Small Molecule and Biologics), Material Type (Synthetic Materials, Biologically Derived Materials, Genetically Engineered Materials, Other (Pharmaceuticals)), Application (Cardiovascular, Oncology, Dermatology, Musculoskeletal, Wound Healing, Ophthalmology, Neurology, Others) and Geographical analysis (key regions and countries).
As per the research report, Global Regenerative Medicine Market was valued at US$ 29.1 billion in 2019 and is anticipated to reach US$ 178.6 billion by 2026 displaying a reasonable CAGR of 31.5% over the forecast period (2020-2026). Regenerative Medicine refers to a group of biomedical approaches to clinical therapies that may involve the use of stem cells. The market of the Regenerative medicine market is anticipated to grow enormously owing to factors such as the growing prevalence of genetic disorders and chronic diseases, the rising pipeline of regenerative medicine products, and technological advancements in the regenerative medicine field. Increasing the adoption of stem cell technologies, gene therapies, and tissue engineering for treating conditions such as blood cancer and other hematologic conditions is driving the industry growth. The potential application of cell therapy includes treatment for urinary problems, cancers, repairing spinal cord injuries, autoimmune disease, rebuilding damaged cartilage in joints, immune system improvement, neurological disorders and infectious disease. The increasing prevalence of chronic conditions, government assistance and numerous companies investing heavily in stem cell therapy research and development, thereby boost the overall market growth. The rising number of organ transplantation and an increasing number of products in the pipeline mark as an opportunity for this industry. However, the high cost associated with regenerative medicine and Ethical Issues related to the use of stem cell & regenerative medicines acts as the major challenges in the growth of this market.
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“Cell therapy regenerative medicine dominated the market, with a 60% share in 2019”
Based on product type, the global regenerative medicine market is bifurcated into Cell therapy, gene therapy, tissue engineering and small molecule and biologics. The market of the Cell therapy segment was expected to grow tremendously and is projected to dominate the market in 2026 due to the technological advancements coupled with increasing utilization of cell therapy as a treatment to several conditions. Tissue Engineering segment is expected to generate revenue of US$ 52.2 billion by 2026. However, the Gene Therapy segment is expected to witness the highest CAGR growth of 33.9% during the forecast period 2020-2026.
“Biologically Derived Materials dominated the material type segment, generating revenue of US$ 16.59 billion in 2019”
Based on material type the global Regenerative Medicine market is segmented into synthetic materials, biologically derived materials, genetically engineered materials and others (pharmaceuticals). The Biologically Derived Materials occupied the largest share and is expected to maintain its dominance throughout the forecast period 2020-2026 owing to the increased usage and advancements in biologically derived materials. Synthetic Materials segment is expected to generate revenue of US$ 57.51 billion by 2026. Genetically Engineered Materials segment is expected to witness the highest CAGR growth of 33.9% during the forecast period.
“In 2019, Regenerative medicine was majorly used for the treatment of Oncology disorder”
Cardiovascular, Oncology, Dermatology, Musculoskeletal, Immunology and Inflammation, Ophthalmology, Neurology, Others are the major application of Regenerative medicine. The application of regenerative medicine for the treatment of Oncology disorder generated revenue of US$ 15.50 billion in 2019. However, the application of regenerative medicine for the treatment of Neurology disorder is expected to witness the highest CAGR growth of 33.0% during the forecast period. A musculoskeletal segment is expected to generate revenue of US$ 12.50 billion by 2026.
“North America dominates the global Regenerative Medicine market”
For better understanding of the overall adoption rate of regenerative medicine in major markets, detailed country-level analysis has been conducted for major regions/countries including North America (US, Canada, Rest of North America), Europe (UK, Germany, France, Spain, Italy, Rest of Europe), Asia-Pacific (China, India, Japan, Australia and South Korea, Rest of Asia-Pacific), and the Rest of the World (Brazil, South Africa and others). Based on the estimation, North America dominated the global Regenerative Medicine Market, generating revenue of US$ 12.10 billion in 2019. The increasing demand for regenerative medicine in the treatment of chronic diseases, cancer, and enhancement in nanotechnologies would drive the market for regenerative medicine in the North American region.
Competitive Landscape-Top Market Players
Some of the major players profiled in the study includes Athersys, Inc., Corline Biomedical AB, Mesoblast, Nuvasive, Inc., Cook Biotech, Integra LifeSciences Corporation, Organogenesis, Osiris Therapeutics, Inc., Stryker Corporation, U.S. Stem Cell, Inc., Spark Therapeutics, Pfizer, REGENXBIO, Abbott Laboratories, Roche, Sarepta Therapeutics, Gilead Sciences. Several M&A’s along with partnerships have been undertaken by these players to facilitate costumers with hi-tech and innovative products.
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- The Global Gene Therapy Market is expected to grow at a CAGR of 29.7% from 2021-2027 and to reach US 20.9 billion by 2027.
- The report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities.