How big is the regenerative medicine market?
According to a recent report published by Grand View Research Inc., regenerative medicines have a significant impact on the healthcare industry to treat chronic conditions and specific indications. The rising prevalence of inheritable genetic diseases is fueling the market expansion
According to a report, “Regenerative Medicine Market Size, Share & Trends Analysis By Product (Primary Cell-based, Stem & Progenitor Cell-based), By Therapeutic Category (Dermatology, Oncology) And Segment Forecasts, 2019–2025”, published by Grand View Research, Inc. The global regenerative medicine market size is expected to reach USD 5.60 billion by 2025, registering a CAGR of 11.6%, as per a new report by Grand View Research, Inc. The market is driven by a high prevalence of cancer, orthopedic, neurodegenerative, and other aging-associated diseases, coupled with expanding global geriatric population.
Market players are engaged in employing novel protocols to derive advanced therapeutics. For instance, in July 2018, Convelo Therapeutics launched regenerative medicines for the treatment of various neurological diseases, such as multiple sclerosis. In March 2018, Hitachi Chemical collaborated with the Daiichi Sankyo and SanBio Group to initiate clinical manufacturing of regenerative medicines for Japanese and U.S. markets.
The market has found widespread application across tissue engineering, gene therapy, drug discovery, stem cells, and nanotechnology. For example, 3D printing is steadily replacing scaffold with stem cells to restore functional characteristics and structure of biological specimens. Dermatology is a key application area and the segment held the largest revenue share in 2018. Oncology therapeutic segment is estimated to expand at the fastest CAGR in the coming years, owing to the strong pipeline of regenerative medicines present for cancer treatment.
A free sample copy or view report summary:
www.grandviewresearch.com/industry-analysis/regenerative-medicine-market/request/rs1
Regenerative Medicine Market Highlights
1. The Korean government has established a blueprint to advance the country’s regenerative medicine clinical research, known as “K-regenerative medicine” over the next five years. This is expected to revitalize the foundation for experimental and clinical research by progressively expanding the regenerative medical institution designations from general hospitals to the level of local hospitals
2. In Januray 2021, the University of Texas launched collaborative research called the lnstitute of Regenerative Medicine that will solely leverage researchers to advance traditional regenerative medicine. The initiative is intended to benefit the patients suffering from CVD and other medical issues
3. In January 2021, Medicine by Design entered in a partnership with H2i to support entrepreneurs by offering them with funded labs in the field of regenerative medicine. In addition, the venture is aimed to prepare Medicine by Design teams dedicated to developing incubators like the Creative Destruction Lab (CDL)
4. Stem cell and progenitor cell-based therapies are projected to witness a staggering growth rate due to high investments made in stem cell research, coupled with the rising number of stem cell banks
5. Asia Pacific is anticipated to showcase the fastest CAGR from 2019 to 2025 due to the rapid adoption of cell-based therapeutic approaches in healthcare, along with the emergence of key players
Regenerative Medicine Market Segmentation
Grand View Research has segmented the global regenerative medicine market on the basis of product type, therapeutic category, and region:
Regenerative Medicine Product Type Outlook (Revenue, USD Million, 2014–2025)
● Therapeutics & Devices
o Primary Cell-bases Therapeutics
o Dermatology
o Musculoskeletal
o Surgical
o Dental
o Others
o Stem Cell & Progenitor Cell-based Therapeutics
o Autologous
o Allogeneic
o Others
o Cell-based Immunotherapies
o Gene Therapies
● Tools
● Banks
● Services
Regenerative Medicine Therapeutic Category Outlook (Revenue, USD Million, 2014–2025)
● Dermatology
● Musculoskeletal
● Immunology & Inflammation
● Oncology
● Cardiovascular
● Ophthalmology
● Others
Regenerative Medicine Regional Outlook (Revenue, USD Million, 2014–2025)
● North America
o U.S.
o Canada
● Europe
o Germany
o U.K.
● Asia Pacific
o China
o Japan
● Latin America
o Brazil
● Middle East & Africa
o South Africa
List of Key Players in Regenerative Medicine Market
- Integra LifeSciences Corporation
- MiMedx Group, Inc.
- AstraZeneca
- F. Hoffmann-La Roche Ltd
- Merck & Co., Inc.
- Pfizer Inc.
- Baxter.
