The size of the Asia-Pacific regenerative medicine market is predicted to grow to USD 7.89 billion by 2027 from USD 2.22 billion in 2022, showcasing a CAGR of 28.9% from 2022 to 2027.
Stem cells that offer the potential to replace cells and tissues to treat various diseases and disorders, including spinal cord injury, arthritis, and Parkinson's disease, create immense possibilities in APAC regenerative medicine market. Also, stem cell and gene therapy offer a potential treatment for the disease rather than long-term treatment and shift focus from treatment to treatment. Therefore, stem cell technology in disease treatment has ultimately increased adoption rates. Therefore, the growing popularity of stem cell technology and increased research is expected to move the market forward during the forecast period.
Government initiatives supporting advanced therapies, the rising focus of foreign pharmaceutical companies to invest in the Asian healthcare industry, a growing number of patients suffering from chronic disease conditions, and increasing demand for organ transplantation drive the growth of the Asia Pacific Regenerative Medicine Market.
The increasing number of accidents and bone defects drive the Asia-Pacific (APAC) Regenerative Medicine Market. In addition, some tissue engineering research is also ongoing to develop bone graft substitutes with the help of regenerative medicine. Therefore, with the new development of bone grafts, the market is expected to grow over the forecast period.
However, the scarcity of skilled professionals, the low penetration rate of advanced healthcare treatment solutions, difficulties in maintaining Regenerative Medicine, and the requirement of a high budget for developing cell-based products (such as stem cells) are restraining the growth of the Asia Pacific regenerative medicine market.
This research report on the APAC regenerative medicine market has been segmented and sub-segmented into the following categories:
The Japanese regenerative medicine market is presently playing a leading role in the Asia Pacific based on region. In Japan, the Ministry of Health, Labor, and Welfare approved the Regenerative Medicine Act in April 2013, promoting the clinical development of regenerative and cell-based therapies as well as; the Chinese government has accepted several studies related to human embryonic stem cells and has encouraged researchers to explore the clinical potential of these cells in China. Also, increasing healthcare needs, changing lifestyles, and aging populations are other factors that positively affect regional market growth. To control the mortality rate during the Covid-19 pandemic, Japanese researchers induced the Japanese Encephalitis Vaccine (JEV) to protect the patient especially vulnerable populations like those in morbid conditions and the elder, to tackle Covid-19. In addition, the rising chronic and cardiovascular diseases will drive growth in the forecast period. Recently the aged population and the population under 18 are capturing more diseases is the challenge.
The Indian regenerative medicine market is forecasted to grow at a healthy rate between 2020 to 2025. The government of India mainly promotes research and development in regenerative medicine and business development innovations. These organizations assure public empowerment and revolution in healthcare. In this market, challenges remain in achieving regulatory error, feasible outputs, and fair impacts. As per the researchers, a robust social contract is needed to increase participation in the treatments. Also, an authority in private nanomaterials, cord blood banking, and 3D bioprinting required more attention. During the Covid-19 outbreak, there is an increasing demand to develop a new vaccine using regenerative medicine. The research in India concludes that stem cell repels viral infection due to interferon-gamma invigorated qualities (ISGs). The growing population and the patients' responses or participants will drive the growth of the regenerative medicine market in India. However, a loosely structured framework of the government will harm the growing market growth.
The Chinese Regenerative medicine Market size is expected to grow at a CAGR of 29.2% from 2020 to 2025. According to Chinese scientists, patients who have participated in the experiment of Mesenchymal stem cell injections derived from the human umbilical cord can protect Covid-19 patients. The latter are having dangerous inflammation and severe breathing problems. A growing community of clinical researchers and physicians in China will grow the regional regenerative medicine market by providing treatments like SARS-CoV-2 for such pandemics in the future. However, stringent rules and regulations by the government in approving new drugs are slowly impeding the market demand. In recent days, researchers have immediately launched some clinical trials. The results show that the curative effect of drugs on patients increases; this research will drive the market's growth in the forecast period.
The recent years for the Australian Regenerative medicine Market have been great and are predicted to continue throughout the forecast period. Australia stated that the survival rate increased to 83% with mesenchymal stem cell (MSCs) treatment procedures for acute respiratory distress syndrome (ARDS). The Australian regenerative medicine market has the necessary fundaments to become a competitive, profitable, and global industry and extend a big vision towards the future. This will help the regional regenerative medicine market grow in the coming years. However, the high budget requirement for the research is a restraint on this market. It will affect further research studies in the future.
The South Korean Regenerative medicine Market size is expected to foresee a healthy CAGR during the forecast period. South Korea's research on Covid-19 places heavy emphasis on regenerative medicine. The system for stem-cell research in South Korea is less strict than in other countries. The country is looking to enhance the research and development in regenerative medicine and ensure its regenerative medicine consistency. The government's funding for research in South Korea is increasing to fuel the market's growth rate. However, the less presence of skilled professionals in the country and the maintenance of regenerative products threaten market growth.
KEY MARKET PLAYERS:
Noteworthy companies operating in the APAC Regenerative Medicines Market profiled in this report are Vertex Pharmaceuticals Incorporated (U.S.), Acelity L.P. Inc. (U.S.), Celgene Corporation (U.S.), StemCells, Inc. (U.S.), Organogenesis Inc. (U.S.), NuVasive, Inc. (U.S.), Vericel Corporation (Genzyme) (U.S.), Japan Tissue Engineering Co., Ltd. (Japan), Cytori Therapeutics Inc. (U.S.), Advantagene, Inc. (U.S.) and Mesoblast Ltd. (Australia).
The regenerative medicine market size in the Asia-Pacific is estimated to be worth USD 7.89 billion by 2027.
Factor such as increasing prevalence of chronic diseases, growing aging population, advancements in regenerative medicine technology, and increasing healthcare expenditure are propelling the growth of the regenerative medicine market in the Asia-Pacific reigon.
China, Japan, and South Korea are expected to capture the major share of the APAC market in the coming years.
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