Regenerative Medicine Market

Regenerative Medicine Market Size (2022 to 2027)

As per our report, the global regenerative medicine market size is expected to reach USD 60.26 billion by 2027 from USD 21.2 billion in 2022, 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. As a result, they are predicted to occupy most of the global regenerative medicine market share.

Regenerative medicines repair, replace, and regenerate tissues and 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 growing significantly to renovate tissues and organs. The U.S. National Institutes of health involve cell therapy, tissue engineering in regenerative Medicine, and biomaterials. Uncurable chronic diseases and conditions such as Alzheimer's disease and 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. The national institutes for health support the scientific research community through NIH regenerative medicine programs.

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.

Rising demand for biologically derived materials for regenerative Medicine, growing technological advancements (nanotechnology-based tissue engineering), and high support from the governments to promote tissue engineering for the development of advanced therapies drive the growth of the global 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, 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 costs for the research & development of cell-based products (such as stem cells) are expected to hamper the growth rate of the regenerative medicine market. Furthermore, high costs associated with the treatments through regenerative medicines are another significant restraint to the market growth in developing countries. In addition, the response to these therapies is less than traditional ones, 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 into a global pandemic. The pandemic has affected all sectors of the economy. Governments have taken strong measures such as nationwide lockdowns and social distancing to disrupt disease transmission and ensure people's safety. During the pandemic, the government's and healthcare professionals' primary focus was to combat COVID-19, and the regenerative treatment had been stopped and postponed. As a result, the regenerative medicine market experienced a minor downfall in market growth during the first quarter of 2020. However, the market has gained momentum after the uplift of the lockdown. The latter period of the pandemic has positively impacted the global regenerative medicine 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 witnessed market growth.  

REPORT COVERAGE:

This research report has segmented and sub-segmented the global regenerative medicine market into the following categories and analyzed market size & forecast for each segment until 2027.

Regenerative Medicine Market - By Product:

• Cell-Based Products                            
  • Autologous Cell-Based Products
  • Allogeneic Cell-Based Products  
• Acellular Products           

Based on the product, the cell-based products segment is estimated to account for a larger share of the global regenerative medicine market during the forecast period 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, and redrafting regulatory policies for their use in clinical applications.

Regenerative Medicine Market - By Therapy:

• Cell Therapy
• Gene Therapy
• Tissue Engineering
• Immunotherapy

Cell therapy is estimated to command the highest share of the global regenerative medicine market by therapy during the forecast period. 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:

• Orthopedic & Musculoskeletal Spine                           
• Dermatology                          
• Cardiovascular                       
• Central Nervous System                   
• Oncology                 
• Diabetes                  
• Other Applications             

The orthopedic & musculoskeletal spine is estimated to command the largest share of the global regenerative medicine market by application from 2021 to 2026 due to rising workplace pressure, poor fitness, and improper postures. In addition, growing investments in product R&D are forecasted to boost the market growth.

Regenerative Medicine Market - By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

Geographically, the North American regenerative medicine market commanded a share of 31.3% of the global market in 2021. The North American regional market is primarily driven by significant research institutes and the development of novel therapeutics. As a result, the market growth is projected to increase at a CAGR of 15.9% by 2026. The United States is estimated to account for the leading share during the forecast period in North America due to the growing healthcare infrastructure and favorable reimbursement policies. In addition, 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 regenerative medicine market was the second-largest regional market globally in 2021, 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 for the regenerative medicine market. 

In contrast, the Asia-Pacific regenerative medicine market 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.

The Latin American regenerative medicine market is expected to be worth USD 6.5 billion by 2027.

The regenerative medicine market in MEA is predicted to register a CAGR of 23.15% from 2022 to 2027.

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 MARKET:

• In January 2018, Medeor Therapeutics was awarded USD 18.8 million from the California Institute for Regenerative Medicine.
• In January 2018, RepliCel Life Sciences Inc. partnered with the private firm, China-based Yofoto Health Industry Co. Ltd, for regenerative Medicine.
• In 2018, an agreement was made between SanBio group and Hitachi Chemical Advanced Therapeutics Solutions, LLC, to develop contract manufacturing of regenerative medicines.
• In September 2018, a deal was announced by essential biologics LLC with blood centers of America to support research and product development for cell therapy.