Regenerative Medicine Market Size, Share, Growth, and Industry Growth By Type (Stem Cell Therapy, Tissue Engineering, Biomaterial, and Others) By Application (Dermatology, Oncology, Cardiovascular, CNS, Orthopedic, and Others) Regional Forecast (2022-2027)

REPORT OVERVIEW

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The global and United States regenerative medicine market size was USD 28,000 million in 2020. The COVID-19 pandemic has negatively affected several markets globally. This market is expected to grow slowly during the COVID-19 pandemic. As per our research, the market is projected to touch USD 95,710 million by 2027, exhibiting a CAGR of 19.2% during the forecast period. The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Regenerative medicine is a type of medicine that improves procedures to regrow, repair, and replace damaged cells, organs, and tissues. It includes injection of stem cells, secretion by infused cells, transplantation of organs, and artificial tissue production. It is used to restore the structure and functions of damaged tissues and organs. It is a type of biologic treatment which uses biological tissue found in the human body. The procedure helps repair lost tissues and attachments with the help of surgery. It focuses on developing a new treatment to heal tissues and organs and restore functions.

Factors such as the growing incidences of cancer, diabetes, CVDs, and other chronic, followed by the increasing R&D activities in medical sciences, are anticipated to drive the market. The major contributing factors are the rising geriatric population, the emergence of stem cell technology, the untapped potential of nanotechnology, and the prevalence of chronic diseases & trauma emergencies. The advancement in monitoring devices and surgical technologies, rise in the incidence of degenerative diseases, and shortage of organs for transplantation are expected to drive the market during the forecast period.  The developing nations are focused on technological advancements expected to boost the growth of regenerative medicine.

COVID-19 Impact: Halt on Production and Elective Surgeries to Impede Sales. 

The epidemic has disrupted growth in many economies across various countries. The COVID-19 occurrence will impact the regenerative medicine market in the early phase of the forecast period. Due to nationwide lockdowns, denied wound care services, canceled or postponed elective surgeries, and increasing skin injuries in COVID-19 medical care providers, the regenerative medicine market is expected to register a certain decline during the forecast period. Some courses and continuous funds by government and private agencies to fund R&D also fast-track the industry's progress. National Institutes of Health supports the scientific research community through the Regenerative Medicine Program, Stem Cell Libraries & Projects, Stem Cell Unit, etc. Similarly, initiatives approved by market players to increase investment for the R&D to support the regenerative medicine market growth.

LATEST TRENDS

"Technological Advancement to Bolster Market Progress"

The increasing prevalence of chronic medical arrangement, genetic syndromes, and adoption of organ displacement also contribute to the market's growth.  Furthermore, the rising geriatric population, susceptible to various musculoskeletal, oncological, dermatological, and craniological conditions, encourages market growth. Regenerative medicine reduces the possibility of organ rejection by the body post-transplant and helps to recover faster. Therefore, the widespread adoption of organ transplantation is contributing to market growth. Various technological advancements such as bioprinting techniques, the adoption of AI, grafting procedures, treating bone defects and skin burn. Factors such as R&D activities, medical science, healthcare infrastructure are predicted to drive market progress.

Segmentation

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• By Type Analysis

By type, the market is segmented into stem cell therapy, tissue engineering, biomaterial, and others.

The stem ceiling segment is expected to lead because it is a bio-based alternative gaining popularity. High generative capacity of the stem cell that produces other cells in the body. Moreover, it is used to treat cancer cells, retinal diseases, diabetes to expand their market share. These factors are likely to influence the growth of the industry. 

• By Application Analysis

Based on the application, the market is classified as dermatology, oncology, cardiovascular, CNS, orthopedic, and others.  

The oncology segment is expected to be the leader because it provides treatment for various types of cancer.  Cancer immunotherapy using regenerative methods compromises the advantage of targeting and eliminating disease cells with the intrinsic ability of hematopoietic stem or more mature cells. Further, it allows a better understanding of cancer cells and aids in developing operational treatment. Hence, increasing product demand in cancer treatment with growing disease incidence will fuel the segment growth.

DRIVING FACTORS

"Increasing Applications to Facilitate Industry Progress"

The major contributing factors driving the market are the increasing prevalence of genetic disorders, geriatric population, cardio-logical diseases, cancer patients, muscle pain, and chronic diseases. Regenerative medicines can be treated through effective vaccines and therapies. It reduces the risk of organ rejection post-transplant. The approval of organ transplantation is another contributing factor driving the market. Expanding 3D bioprinting and acceptance of artificial intelligence (AI) in cell-based therapies, research, and development activities in medical science and enhanced healthcare infrastructure are expected to drive the market forward. Moreover, dermatological procedures such as burns, bone defects, and skin wounds are also streamlining in grafting procedures.

"Government Regulations in Infrastructural Development to Magnify Market Growth"

Government guidelines supporting regenerative medicines are the major factor driving the market. The European government has prioritized it as a critical strategic relevance. The North Carolina Tissue Engineering and Regenerative Medicine Society is an association in the U.S. working to progress and evolvement basic research, profitable development, and education. Two major government agencies – NIH and CIRM – gather funds for academic translational stem cell research progress. Growing global healthcare spending is also expected to fuel the market.

RESTRAINING FACTORS

"High Cost of Treatments to Impede Market Progress"

Cell therapies represent a significant medical advancement for patients with severe illnesses. It helps to transform to treatment to cure patients. However, the high cost of these therapies and reimbursements are challenging. These treatments are expensive, going from several hundred thousand dollars to above 2million. But the prices of these therapies are defensible contrary to a lifespan treatment routine that can often be at the cost of these gene treatments.

REGIONAL INSIGHTS

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"Presence of Prominent Players to Bolster Growth in North America"

Regionally, the market is grouped into North America, Europe, Asia-Pacific, and the rest of the world. 

North America is expected to dominate the regenerative medicine market share. The presence of prominent players, research institutes, availability of advanced technologies, increasing number of clinical trials is expected to drive the market in the region. However, the researchers are working towards clinical infrastructure in stem cell therapies. The funds provided by private and government organization contributes to the highest revenue for the U.S. Additionally, governmental support and regulatory harmonization are the two major factors expected to streamline the clinical trial infrastructure in the region.

Asia-Pacific is the second-largest market shareholder in the regenerative medicine market. Factors such as infrastructure development, patient pool, increasing awareness, increasing expenditure are expected to drive the market in the region. Japan is one of the leading markets for regenerative medicine, coupled with technological advancements. The Chinese government has approved several R&D activities related to stem cells and to explore clinical trials.

In Europe, the presence of innovative producers undertaking clinical trials and research activities by organizations, higher prevalence of several chronic diseases such as diabetes, cancer, and musculoskeletal abnormalities among the European population will boost the demand for regenerative therapies. Moreover, adopting innovative treatment therapies with high expenditure and favorable funding will positively impact regional growth.

KEY INDUSTRY PLAYERS

"Companies Adopt Technologically Advanced Production Techniques to Improve Market Position"

The market is highly competitive as the companies concentrate on the outline of therapies for oncology & age-related degenerative disorders. Moreover, collaborative efforts & strategic contracts for product improvement and technology sharing are expected to drive the market. Key companies invest heavily in developing regenerative therapies to meet the demand for unmet clinical needs. Small-scale companies are also merging with large companies to build tissue models for research and therapeutic purposes. Thus, companies make considerable investments in novel technologies anticipated to drive the market forward. 

List of Market Players Profiled

• Medtronic (Ireland)
• Zimmer Biomet (U.S.)
• Stryker (U.S.)
• Allergan (India)
• MiMedx Group (U.S.)
• Organogenesis (U.S.)
• Fujifilm Cellular Dynamics (U.S.)
• Osiris Therapeutics (U.S.)
• Vcanbio (U.S.)
• CCBC (U.S.)
• Cytori (U.S.)
• Celgene (U.S.)
• Vericel Corporation (U.S.)
• Guanhao Biotech (China)
• Mesoblast (Australia)

INDUSTRY DEVELOPMENT

• May 2021: Bristol Myers Squibb received the U.S. FDA approval for Breyanzi. The invention is nominated for adults with relapsed or refractory (R/R) large B-cell lymphoma (LBCL). The product outline will drive the firm's product portfolio and customer base.

REPORT COVERAGE

This market report covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report provides a detailed market assessment by underlining different features, including drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing. The report offers an overview of leading companies, including their successful marketing strategies, market involvement, and recent expansions in historical and present situations.