The European regenerative medicine market size is estimated to value USD 16.52 billion by 2027 from USD 6.16 billion in 2022, growing at a CAGR of 21.8% during the forecast period.
The European region has strong biotechnology sectors in the UK & German countries, which is a big plus to the regenerative medicine market in this region. Increasing support from the government & private sectors is another significant factor boosting the European regenerative medicine market. According to the Alliance for Regenerative Medicine, there are around 400+ companies of regenerative medicines in Europe. Growing adoption of computational tools in the healthcare industry is expected to accelerate the growth rate of the EU market. Bioinformatics tools provide high-resolution data, algorithms & strategies for regenerative medicines. According to the World Health Organization, 60 million people are diagnosed with diabetes in the European region. An increasing number of patients with diabetes is surging the growth of the regenerative medicine market in Europe.
Growing aging population, an increasing number of lifestyle disorders (diabetes, obesity, and others), rising advancements in research & development, an increasing number of people suffering from chronic disorders (such as liver diseases, blood disorders), and growing involvement of government to help research institutes for the development of regenerative medicines are driving the growth of regenerative medicines market in Europe.
However, uncertain regulatory guidelines and stringent ethical laws to conduct research & developments in tissue-engineered products & cell-based products are restraining the growth of the regenerative medicines market in Europe.
This research report on the European regenerative medicine market has been segmented and sub-segmented into the following categories:
Based on the region, the European regenerative medicine market is estimated to register a substantial share globally during the forecast period. Biologics, biomaterials, stem-cell technologies, and tissue engineering are all experiencing significant technical breakthroughs, contributing to the market's growth. In addition, regenerative therapies have also advanced recently, with regenerated tracheas for transplant, 3D bioprinting, stem-cell treatments for eyesight loss, and stem-cell treatments for heart repair among them. Stem-cell technology, which also serves the disciplines of tissue engineering, developmental cell biology, cellular therapies, gene therapy, chemical biology, and nanotechnology, is a fast-growing technology that plays a vital part in regenerative medicine. Furthermore, stem-cell technologies in illness therapy have resulted in a higher overall acceptance rate of these technologies in the region. The major countries such as Germany, UK, France, and Spain majorly contribute to the regional market expansion.
The UK regenerative medicines market is expected to dominate the European market during the forecast period. Support from the government through investments in innovative products and ongoing research and development is majorly driving the UK market. The UK is anticipated to showcase a promising share of the European regional market growth due to the rising needs of the people, changing lifestyles, and the evolving healthcare infrastructure is propelling the market growth in the UK.
The German Regenerative Medicines Market is another promising regional market in the European market and predicted to register healthy CAGR during the forecast period due to the increasing incidence of chronic diseases and the prevalence of quality treatment procedures. Growing investments by the government and non-government organizations and increasing research and development activities by the country's major companies contribute to market growth.
On the other hand, the countries such as Italy, France, and Spain are predicted to witness a moderate market revenue during the forecast period. This is because the proliferation of chronic diseases, cancer, and the growing pipeline of regenerative medicines are most likely to augment the market growth in these countries.
KEY MARKET PLAYERS:
Some of the major companies operating in the European regenerative medicine market covered in this report are Vertex Pharmaceuticals Incorporated, Acelity L.P. Inc., Celgene Corporation, StemCells, Inc., Organogenesis Inc., NuVasive, Inc., Vericel Corporation (Genzyme), Japan Tissue Engineering Co., Ltd., Cytori Therapeutics Inc., Advantagene, Inc. and Mesoblast Ltd.
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