Market Research Report
Regenerative Medicine Market - Forecast (2020 - 2025)
|Published by||IndustryARC||Product code||422454|
|Published||Content info||103 Pages
Delivery time: 2-3 business days
|Regenerative Medicine Market - Forecast (2020 - 2025)|
|Published: March 11, 2020||Content info: 103 Pages||
As per the Organ Procurement and Transplantation Network, 36,527 organ transplants were accomplished in the United States in 2018. Regenerative medicines plays a vital role in transplants as it refers to an interdisciplinary field and is a branch of translational research that applies engineering and life science principles to promote regeneration, and can potentially restore diseased and injured tissues as well as whole organs. Apart from organ regeneration, regenerative medicines are effective in cell therapy, gene therapy, and tissue engineering, and are applicable in cardiology, oncology, dermatology, and ophthalmology. Owing to higher prevalence of chronic diseases, genetic diseases, and aging population, causing a higher requirement for organs and biomaterials for tissue regeneration, the regenerative medicine market has escalated to be valued in between $26 billion-$27 billion as of 2018. The analyst of this business intelligence report has tracked this developing marketplace to be progressing economically at a CAGR of 22%-24% during the forecast period 2019-2025.
According to Global Burden of Disease, a study by WHO, musculoskeletal conditions are the second highest contributor to global disability. And, Institute for Health Metrics and Evaluation (IHME) has revealed that the total burden of disability increased by 52% between 1990 and 2017.
Gene therapy and tissue engineering in orthopedic surgery endures to assist as the foundation for innovative treatments of innumerable musculoskeletal disorders. Regenerative medicine market is all established to capitalize on the global musculoskeletal disorder rate as it assists in tissue engineering and therapy. Due to such occurrences, orthopedic & musculoskeletal cases dominate the application segment and is flourishing with an application CAGR of 21%-23% going through 2025.
After an acute analysis of the regional aspects of regenerative medicine market, North America has been located as the leading region encapsulating under its terrain around 30%-32% of the global regenerative medicine market demand. The sheer affluence of this region can be attributed to several facts. The United States with its existing modern and cutting-edge healthcare infrastructure is compatible for intricate medical outputs such as stem cell and oncology research augmenting regenerative market. Accelerating frequency of ailments, for instance cancer and diabetes, in the United Sates is positively affecting the market. National Cancer Institute estimated the nationwide expenses for cancer care in the United States in 2017 were $147.3 billion. Similarly 23.1 million folks in the United States are diagnosed with diabetes at a cost of more than $245 billion per year. Awareness among population regarding the available stem cell procedures and therapies effectively curing cancer and diabetes is increasing, which consequence in increasing the demand for the regenerative medicine market.
One of the major drivers of regenerative medicine market is the growing research and developments activities and innovations and funding in biomaterials, nanotechnology, drug delivery, and cell therapies.
The 21st Century Cures Act, approved in December 2016, created room for establishment of Regenerative Medicine Innovation Project (RMIP). NIH (National Institute of Health) is leading the RMIP in coordination with FDA. The 21st Century Cures Act approved $30 million in federal awards over four years (2017-2020) for the RMIP, thus accelerating the arena by aiding clinical research on mature stem cells while endorsing the uppermost morals for scientific research and patient safety.
Socio-economic context is restricting folks from developing economies to afford organ transplantation. Inadequate stock of organs is instigating serious crime of organ trafficking common in Pakistan, India, and China. This circumstantial setting requires to be disrupted with abrupt response and demands for discovery an alternative source of organ transplantation such as regenerative medicine.
Emerging economies with mounting instances of chronic diseases, genetic diseases, and aging population, where there is a higher demand for organs and biomaterials for tissue regeneration have low awareness of developments in regenerative medicine due to low healthcare expenditure.
But however, research and developments with adequate influx of investments and funding are progressing towards economical commercialization of such intricate medical procedures.
Vertex Pharmaceuticals Incorporated, Medtronic Plc, Allegan Plc, Smith & Nephew Plc, Nuvasive, Inc, Cytori Therapeutics, Inc, Vericel Corporation, BlueRock Therapeutics, Octane Biotech Inc, and Theracell Advanced Biotechnology Ltd are some of the key players functional and effective in the regenerative medicine market.
Vertex Pharmaceuticals Incorporated, revealed on February 12, 2018 that their third medicine SYMDEKO™ got approved by FDA for cystic fibrosis (CF), a genetic disorder that affects mostly the lungs, but also the pancreas, liver, kidneys, and intestine. Such developments curate the future revenue for regenerative medicine market.
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the regenerative medicine market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the various researches in regenerative medicine market, and their specific applications in different types of ailments.
Regenerative Medicine Market Report: Industry Coverage
By Products: Analyzers, Reagents
End Users: Hospitals, Clinical Laboratories, Academics
By Applications: Oncology, Microbiology, Others
North America: The U.S., Canada, Mexico
South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
Middle East and Africa: Israel, South Africa, Saudi Arabia
Key Questions Addressed in the Regenerative Medicine Market Report
Give a deep-dive analysis of the key operational strategies with focus on the corporate structure, R&D strategies, localization strategies, production capabilities, and sales performance of various companies
Provide an overview of the product portfolio, including product planning, development, and positioning
Discuss the role of technology companies in partnerships
Explore the regional sales activities
Analyze the market size and giving the forecast for current and future regenerative medicine during the forecast 2018-2023
Analyze the competitive factors, competitors' market shares, product capabilities, and supply chain structures
"*Financials of private companies will be provided on a best-efforts basis"