Regenerative medicine has gained significant popularity in recent years. It can be defined as the branch of medicine that develops methods to repair, regrow, or replace diseased or damaged tissues, cells, or organs. It includes organ transplantations, artificial tissue production, stem cell injection, and infused cells’ secretion to restore damaged organs or tissues. The emergence of stem cell technology has been a substantial growth booster for the industry. The increasing prevalence of trauma emergencies and chronic diseases, such as diabetes, CVDs, cancer, and others, is predicted to favor the industry expansion. Further, the expanding geriatric population across the globe is likely to complement the industry expansion.
However, the recent coronavirus pandemic has diminished the growth of the industry. The halted production processes due to labor shortages and factory shutdowns have affected the industry expansion. The demand for regenerative medicine further diminished due to postponed or canceled elective surgeries as people feared contracting the virus from healthcare facilities. Nonetheless, favorable government and private investments in the healthcare sector have proliferated the product demand. The resuming operations and growing technological advancements are likely to favor the industry expansion. As per Business Research Insights, the global regenerative medicine market size is predicted to hit USD 95,710 million by 2027. Rising technological advancements, such AI adoption and bioprinting technology developments, expanding geriatric population, and increasing prevalence of chronic diseases are predicted to bolster the industry growth in the coming years.
Business Research Insights Identifies the Following as the Top 5 Regenerative Medicine Companies:
1. Zimmer Biomet
Founded in 1927, this publicly-traded medical company is headquartered in Warsaw, Indiana, U.S. The company develops, designs, manufactures, and sells orthopedic products such as ankle, foot, elbow, shoulder, hip, and knee artificial joints and dental prostheses. It has operations across 40+ nations globally, including India, Latin America, Spain, South Africa, Russia, Poland, Brazil, Italy, Israel, France, Finland, China, Canada, Czech Republic, and others. The company sells its products across 100+ nations.
2. Medtronic Plc.
Based in Dublin, Ireland, this medicine device company was founded in 1949 and operates through its executive and operational headquarters in Minneapolis, Minnesota, U.S. The company specializes in products such as balloon kyphoplasty, drug infusion systems, bone grafting, corpectomy devices, and others. The company announced the acquisition of Affera Inc. in January 2022. It generated a revenue of nearly USD 8.7 billion in 2021.
3. Stryker Corporation
Based in Kalamazoo, Michigan, U.S, this multinational medical technologies corporation was founded in 1941 by Homer Stryker. It specializes in products used in trauma surgeries and joint replacements; regenerative medicine; surgical equipment; surgical navigation systems; patient handling and emergency medical equipment; endoscopic and communication systems; neurovascular, spinal, & neurosurgical devices; and others.
The company generated a revenue of USD 17.1 billion in 2021.
4. Fujifilm Cellular Dynamics
Founded in 2004, the company is a large-scale manufacturer of human cells, developed from induced pluripotent stem cells for utilization in drug discovery, regenerative medicine, and basic research applications. The company’s headquarters are located in Tokyo, Japan. MyCell and iCell products offered by the company are currently being used for research & development of regenerative medicine approaches such as transplantation, tissue engineering, autologous and allogeneic cell therapy, and regenerative medicine compound screening.
5. Organogenesis
Organogenesis sells and manufactures products for surgical, sports, and advanced wound care applications. Founded in 1985, the company achieved major milestones and acquired a few businesses, such as NuTech Medical (2017), to launch new products and expand its portfolio. The company expects a revenue between USD 485 million and USD 515 million to be generated by the year ending December 2022.
The increasing prevalence of trauma emergencies and chronic diseases, such as diabetes, CVDs, cancer, and others, is predicted to favor the industry expansion. Favorable government and private investments in the healthcare sector are expected to bolster the industry’s development. Furthermore, partnerships amongst major players, product innovations, and new product developments are predicted to improve the positions of major industry players and proliferate industry development.