Regenerative Medicine Market to Grow at 21.2% CAGR by 2030
Increased pipeline of regenerative medicines along with growing government investments are likely to drive the overall regenerative medicine market growth.
The Global Regenerative Medicine Market is expected to reach USD 95.48 billion by 2030 from USD 16.92 billion in 2021, at a CAGR of 21.2% according to research report by Next Move Strategy Consulting.
Regenerative Medicine are used to regenerate, repair, replace or restore tissues and organs damaged by diseases or due to natural ageing. These medicines help in the restoration of normal cell functions and are widely used to treat various degenerative disorders such as cardiovascular disorders, orthopedic disorders and others.
The rising demand for organ transplantation and increasing awareness about the use of regenerative medicinal therapies in organ transplantation along with implementation of the 21st Century Cures Act, a U.S. law enacted by the 114th United States Congress in December 2016 are creating growth opportunities in the market. However, high cost of treatment and stringent government regulations are expected to hinder the market growth.
The global regenerative medicine market is segmented based on product type, material, application, and geography. Based on product type, the market is classified into cell therapy, gene therapy, tissue engineering, and small molecule & biologic. Depending on material, it is categorized into synthetic material, biologically derived material, genetically engineered material, and pharmaceutical. Synthetic material is further divided into biodegradable synthetic polymer, scaffold, artificial vascular graft material, and hydrogel material. Biologically derived material is further bifurcated into collagen and xenogenic material. Genetically engineered material is further segmented into deoxyribonucleic acid, transfection vector, genetically manipulated cell, three-dimensional polymer technology, transgenic, fibroblast, neural stem cell, and gene-activated matrices. Pharmaceutical is further divided into small molecule and biologic. By application, it is categorized into cardiovascular, oncology, dermatology, musculoskeletal, wound healing, ophthalmology, neurology, and others. Geographically, it is analyzed across four regions, i.e., North America, Europe, Asia-Pacific, and RoW.
The use of regenerative medicine is highest in North America, particularly in the U.S., owing to increasing prevalence of chronic disorders, rise in demand for artificial organs due to organ failure, and presence of advanced healthcare infrastructure.
Although the use of regenerative medicine in Asia-Pacific and RoW is low, the adoption rate is expected to increase due to higher unmet medical needs and gradual improvement in the healthcare infrastructure to treat chronic disorders.
Browse Key Industry Insights from the report, “Regenerative Medicine Market by Product (Cell Therapy, Gene Therapy, Tissue Engineering, and Small Molecule & Biologic), by Material (Synthetic Material, Biologically Derived Material, Genetically Engineered Material, and Pharmaceuticals), by Application (Cardiovascular, Oncology, Dermatology, Musculoskeletal, Wound Healing, Ophthalmology, Neurology, and Others) - Global Opportunity Analysis and Industry Forecast, 2022 – 2030”
The global regenerative medicine market is comprehensively analyzed with respect to product type, material, application, and region.
An in-depth analysis based on geography helps to understand the regional market to assist in strategic business planning.
The development strategies adopted by the key manufacturers are enlisted to understand the competitive scenario of the regenerative medicine market.
The key players operating in the global regenerative medicine market include Integra Lifesciences Corporation, AbbVie Inc., Merck KGaA, Medtronic, Thermo Fisher Scientific Inc., Smith+Nephew, Becton, Dickinson and Company, Baxter International Inc, Cook Biotech, and Organogenesis Inc.
Other prominent players in the value chain include Shimadzu Recursion Pharmaceuticals, Inc., Baxter International, Inc., DePuy Synthes Siemens Healthineers, General Electric (GE) Company, Koninklijke Philips N.V., Cloudmedx, Inc., Stryker Corporation, Zimmer Biomet Holdings, Inc., Athersys, Inc., U.S. Stem Cell, Inc. (Bioheart, Inc.), Acelity Holdings, Inc., Isto Biologics (Isto Biologics Medical Systems, Inc.), and CryoLife, Inc.and Bay Labs, Inc.
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