Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Regenerative Medicine market.
Trusted Business Insights presents an updated and Latest Study on Regenerative Medicine Market 2019-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market.The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Regenerative Medicine market during the forecast period (2019-2029).It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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The global regenerative medicine market size was USD 23,841.5 Million in 2018 and is Projected to Reach USD 151,949.5 Million by 2026, Exhibiting a CAGR of 26.1% between 2019 and 2026.
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Regenerative medicine (RM) involves using cells, tissues, or genetic material to treat and manage diseases. Regenerative medicine is an emerging field that aims to repair, replace or regenerate damaged tissue or organ. The U.S. National Institutes of Health includes cell therapy, gene therapy, biomaterials and tissue engineering into regenerative medicine. Regenerative medicine holds potential to treat incurable chronic diseases and conditions such as Alzheimer disease, Parkinsons disease, diabetes and others. According to the Alliance for Regenerative Medicine, approximately around 1,028 clinical trials are ongoing on regenerative medicine worldwide. Around USD 13.3 Bn global financing were raised in 2018 by investment into regenerative medicine. The increased investment by key market players in the research and development of the regenerative medicine is one of the major factor anticipated to drive the regenerative medicine market growth during the forecast period.
Increased investment in the research and development of regenerative by the key market players is one of the major factor driving the global market
Increasing investment by private and government organization in the development of the regenerative medicine is one of the factors expected to propel regenerative medicine industry dynamics. For instance, in March 2018, SanBio Group signed an agreement with Hitachi Chemical Advanced Therapeutics Solutions, LLC for the development and contract manufacturing of regenerative medicines. Rising prevalence of chronic and genetic disorders and increased healthcare expenditure by developed and developing countries are some of the key factors impelling the regenerative medicine market growth.
Additionally, presence of the strong product pipeline in stem cell and gene therapy by various research institutes and key market players is one if the major factor anticipated to boost the growth of the market during the forecast period of 2018-2026. However, the growing demand for organ transplantation in developed and developing countries and the commercialization of regenerative medicine are some of the key elements anticipated to supplement the growth of the regenerative medicine market trends throughout the forecast period. Increased use of skin substitutes, grafts, bone matrix and other tissue engineered regenerative medicine is one of the prominent factor for the growth of the market.
Based on the type, the regenerative medicine industry segments includes cell therapy, gene therapy, tissue engineering, and platelet rich plasma. On the basis of the application, the market is segmented into orthopedics, wound care, oncology, and others.
On the basis of distribution channel, the global regnerative medicine segments includes hospitals, clinics, and others. Cell therapy segmented is expected to register comparatively high CAGR during the forecast period due to increased research and product development in the field of stem cells.Regional Analysis
Asia Pacific is anticipated to register comparatively higher CAGR during the forecast period due to increased adoption of the platelet rich plasma therapy and growing awareness among the population about stem cell therapy and regenerative medicine
North America generated maximum revenue of USD 9,128.2 Mn in 2018 and is expected to dominate the market throughout the forecast period. Due to presence of substantial number of key market players based in U.S., presence of research institutes involved in development of novel therapeutics and availability of advanced technologies are attributive to the high number of clinical trials in North America. Asia Pacific is anticipated to witness exponential growth during the forecast period owing to expansion of infrastructure and facilities to accelerate stem cell research in developing countries. In April 2013, the Japan Ministry of Health, Labor and Welfare approved Regenerative Medicine law.
Asia Pacific Regenerative Medicine Market Size, 2018
The imposition of the law increased the number of the clinical development of regenerative and cell-based therapies. This led to drive the growth of the regenerative medicine market in the region. Additionally, Chinese government has approved several research related to human embryonic stem cells in order to encourage researchers to explore the clinical potential of these cells in China. Furthermore, rising aging population, increasing medical needs, and changing lifestyle are some of the other factors influencing the growth of the global regenerative market in the Asia Pacific region. Latin America, and Middle East & Africa region hold large potential for the market during 2019-2026.
Key Market Drivers
CELGENE CORPORATION, Medtronic, and American CryoStem Corporation Account for the Highest Market Share in Terms of Revenue
CELGENE CORPORATION, is a leading player in the global regenerative medicines, owing to its strong portfolio in wound care and orthopedics and more investment in the research and development of the regenerative medicine. In order to strengthen the market position, key market players are focusing on the introduction of organ development and treatment of chronic diseases in the global market. CELGENE CORPORATION, Medtronic, and American CryoStem Corporation, dominated the regenerative medicine market in 2018. Other players operating in the market are Avita Medical, Osiris Therapeutics, Inc., Tissue Regenix, Wright Medical Group N.V., Smith & Nephew, Integra LifeSciences Corporation and others.
List of Companies Profiled
The potential to directly alter human genes was first recognized nearly more than 50 years ago. Cell and gene therapy, represent overlapping fields of biomedical research with similar therapeutic goals. Regenerative medicine also comprises of therapeutic tissue engineering and biomaterials engineered substances used in medical applications to supplement or replace a natural body function. The increased number of the clinical trials and the use of the regenerative medicine for the development of the medicine to treat chronic diseases are some of the factors propelling the regenerative medicine market trends.
The report provides qualitative and quantitative insights on the regenerative medicine industry trends and detailed analysis of market size and growth rate for all possible segments in the market. The market is segments include type, application, distribution channel, and geography. On the basis of the type, the market is segmented into cell therapy, gene therapy, tissue engineering and platelet rich plasma. On the basis of the application, the market is segmented into orthopedics, wound care, oncology and others. On the basis of distribution channel, the regenerative medicine market is segmented into hospitals, clinics and others. Geographically, the market is segmented into five major regions, which are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions are further categorized into countries.
Along with this, the regenerative medicine market report comprises analysis of the industrydynamics and competitive landscape. Various key insights provided in the report are prevalence and incidence of diabetes by key countries, advancements in insulin delivery devices, recent industry developments such as mergers & acquisitions, pricing analysis, technological advancements, and key industry trends.
By Distribution Channel
Key Industry Developments
In 2018, Novartis received EU approval for one-time gene therapy Luxturna, which has been developed to restore vision in people with rare and genetically-associated retinal disease.
In 2018, Novartis received EU approval for its CAR-T cell therapy, Kymriah.In 2017, Integra LifeSciences launched its product, Integra Dermal Regeneration Template Single Layer Thin for dermal repair defects reconstruction in a one-step procedure.
Looking for more? Check out our repository for all available reports on Regenerative Medicine in related sectors.
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