As per our analysis report, the global regenerative medicine market size is expected to reach USD 60.26 billion by 2026 from USD 21.2 billion in 2021, growing at a compound annual growth rate (CAGR) of 23.24% during the forecast period. Players such as Celgene Corporation, Medtronic, and American CryoStem Corporation are expected to play a promising role in the market during the forecast period. They are predicted to occupy most of the global regenerative medicine market share.
The regenerative medicines are used for repairing, replacing, and regenerating tissues and the organs affected by injuries, diseases, and natural aging processes. These medicines restore functionalities of cells & tissues used in several degenerative disorders, including cardiovascular, orthopedic applications, dermatology, and neurological disorders. Regenerative medicine is a medical field that is growing significantly to renovate tissues and organs. The U.S. National Institutes of health involve cell therapy, tissue engineering into regenerative medicine, and biomaterials. Uncurable chronic diseases and conditions such as Alzheimer's disease, Parkinson's disease can be cured through regenerative medicine. Around 1,028 clinical trials are going on as per the reports given by the Alliance for regenerative medicine. National institutes for health support the scientific research community through NIH regenerative medicine programs. In 2018 an agreement was made between SanBio group and Hitachi chemical Advanced Therapeutics Solutions, LLC, to develop contract manufacturing of regenerative medicines. On September 04, 2018, a deal was announced by the essential biologics LLC with blood centers of America to support research and product development for cell therapy.
MARKET DRIVERS:
The growing utilization of regenerative medicine in cancer research & drug discovery, increasing organ transplantations, and rising healthcare expenditure further stimulate the growth of the global regenerative medicine market growth.
Rising demand for biologically derived materials for regenerative medicine, growing technological advancements (nanotechnology-based tissue engineering), and high support from the government to promote tissue engineering for the development of advanced therapies drive the global growth regenerative medicine market.
Regenerative Medicine repair, replace or regenerate human cells, tissues, or organs affected due to injury, disease, aging processes, congenital disabilities, and damage due to trauma. These medicines restore the normal functions of cells & tissues. These medicines are available in different types such as genes, somatic cells, stem cells, and other types. Some of these medicines (such as stem cells) can proliferate, differentiate, and restore the original structure of cells or tissues, or organs. Regenerative Medicine is used in various degenerative disorders, including cardiovascular, neurodegenerative diseases, dermatology, and orthopedic disorders. The majority of the researchers aim to develop innovative technologies to provide better regenerative medicine and effective healthcare treatment solutions to patients.
MARKET RESTRAINTS:
However, the presence of stringent regulatory pathways for tissue-engineered products & cell-based products, strict ethical regulations for the utilization of human tissue, certain post-implantation infections & complications, and high cost for the research & development of cell-based products (such as stem cells).
The primary restraint factor is the high cost of treatment through regenerative medicines is impeding the market growth in developing countries. The response for these therapies is less compared to traditional therapies, which further diminishes the market growth.
Impact of COVID-19 on the global regenerative medicine market:
The SARS-COV-2 has emerged as a regional pandemic and turned it to be a global pandemic. The pandemic has affected all sectors of the economy. Governments have taken strong measures such as nationwide lockdown and social distancing to disrupt the disease transmission and ensure people's safety. During the pandemic period, the government's and healthcare professionals' primary focus was to combat the COVID-19, because of which the regenerative treatment had been stopped and postponed. The regenerative medicine market had experienced a minor downfall in market growth during the first quarter of 2020. However, post to the uplift of lockdown, the market has gained its momentum. The latter period of the pandemic has been shown a positive impact on its market growth. Resuming regenerative treatments has increased the demand for regenerative medicines, growing adoption of regenerative medicine in treating chronic diseases and viral diseases such as COVID-19 has significantly witnessed the market growth.
REPORT COVERAGE:
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2020 to 2026 |
|
Base Year |
2020 |
|
Forecast Period |
2021 to 2026 |
|
Segments Covered |
By Product, Therapy, Application, and Region |
|
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
|
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
This research report has been segmented and sub-segmented the global regenerative medicine market into the following categories and analyzed market size & forecast for each segment until 2025.
Regenerative Medicine Market - By Product:
The cell-based products segment is estimated to account for a larger share of the global regenerative medicine market by product in 2020 due to their usage for different indications and early adoption in clinical applications. Further, the Cell-based products segment is classified as autologous and allogeneic products. The cell-based therapies segment is forecasted to grow at an impressive CAGR during the forecast period due to high investments, growing research activities coupled with redrafting in regulatory policies for their use in clinical applications.
Regenerative Medicine Market - By Therapy:
Of these, cell therapy is estimated to command the highest share of the global Regenerative Medicine market by therapy in 2020. The growth of the cell therapy segment is majorly driven by the clinical studies' proliferation for cell-based therapies and ongoing clinical trials. Moreover, funding and investments by government and private organizations are encouraging the cell therapy market.
Regenerative Medicine Market - By Application:
The orthopedic & musculoskeletal spine is estimated to command the largest share of the global Regenerative Medicine market by application in 2020 due to the rising pressure in workplaces, poor fitness, and improper postures. Growing investments in product R&D will boost the market growth.
Regenerative Medicine Market - By Region:
Geographically, the North American market is estimated to command the highest share of 31.3% of the global regenerative medicine market in 2020. The North American regional market is primarily driven by significant research institutes and the development of novel therapeutics. The market growth is projected to increase at a CAGR of 15.9% by 2026. In North America, the United States is estimated to account for the leading share during the forecast period due to the growing healthcare infrastructure and favorable reimbursement policies. Y-O-Y growth in the prevalence of chronic diseases in the U.S is further adding a boost to the growth rate in the regional market. On the other hand, the Canadian market is projected to showcase healthy growth during the forecast period.
The European market was the second-largest regional market globally in 2020, and it is estimated to rise at a CAGR of 21.80% during the forecast period. An increasing number of people with diabetes is additionally propelling the demand of the regenerative medicine market.
In contrast, Asia-Pacific is estimated to grow at the highest CAGR of 28.90% during the forecast period. The Asia Pacific is one of the largest growing regions in regenerative markets. China held the most considerable market growth of the APAC regenerative market during the forecast period. China's government has approved several human embryonic stem cell measures to encourage researchers to explore these cells' clinical potential in China. On the other hand, India is anticipated to be one of the largest shareholding countries in Asian countries. The rising geriatric population and changes in the lifestyles of the people in India are influencing the regenerative market growth in the APAC region.
KEY MARKET PARTICIPANTS:
Companies leading the global regenerative medicine market profiled in the 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)
RECENT HAPPENINGS IN THIS REGENERATIVE MEDICINE MARKET:
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 New Developments
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Introduction
5.2 Product
5.2.1 Introduction
5.2.2 Cell-Based Products
5.2.2.1 Autologous Cell-Based Products
5.2.2.2 Allogeneic Cell-Based Products
5.2.3 Acellular Products
5.3 Therapy
5.3.1 Introduction
5.3.2 Cell Therapy
5.3.3 Gene Therapy
5.3.4 Tissue Engineering
5.3.5 Immunotherapy
5.4 Application
5.4.1 Introduction
5.4.2 Orthopedic & Musculoskeletal Spine
5.4.3 Dermatology
5.4.4 Cardiovascular
5.4.5 Central Nervous System
5.4.6 Oncology
5.4.7 Diabetes
5.4.8 Other Applications
6. Geographical Analysis
6.1 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.2 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.3 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 Soth Korea
6.4 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.5 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle East
6.5.3 South Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Vertex Pharmaceuticals Incorporated (U.S.)
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Strategic Evaluation and Operations
8.1.4 Financial analysis
8.1.5 Legal issues
8.1.6 Recent Developments
8.1.7 SWOT analysis
8.1.8 Analyst View
8.2 Acelity L.P. Inc. (U.S.)
8.3 Celgene Corporation (U.S.)
8.4 StemCells, Inc. (U.S.)
8.5 Organogenesis Inc. (U.S.)
8.6 NuVasive, Inc. (U.S.)
8.7 Vericel Corporation (Genzyme) (U.S.)
8.8 Cytori Therapeutics Inc. (U.S.)
8.9 Advantagene, Inc. (U.S.)
8.10 Mesoblast Ltd. (Australia)
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Expert Opinions
10.1 Market Outlook
10.2 Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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