Regenerative Medicine Market Forecasts to 2028 - Global Analysis By Product, Material, Application, End User and Geography

According to Stratistics MRC, the Global Regenerative Medicine Market is accounted for $35.01 billion in 2022 and is expected to reach $73.94 billion by 2028 growing at a CAGR of 13.27% during the forecast period. Regenerative medicine repairs tissue or organs that have been damaged by disease, trauma, or congenital abnormalities, as opposed to the present clinical strategy, which focuses mostly on treating symptoms. The methods used to attain these breakthroughs include tissue engineering, cellular therapy, medical devices, and artificial organs. Regenerative medicine is an exciting field that aims to repair and restore the structure and function of damaged tissues and organs. It also intends to discover cures for permanently injured organs. This approach aims to find a cure for previously incurable illnesses and injuries.

According to the Alliance for Regenerative Medicine (ARM) 2021 report, the global financing in this market was raised to USD 22.7 billion in 2021 from USD 19.9 billion in 2020 to support 2,406 products that are under investigation.

Market Dynamics:

Driver:

Increasing investments in R&D activities leading to innovative product launches

Increasing investments in this sector have resulted in full-fledged research and development operations, as various investors support start-up firms focusing on the development of novel cures and products in the market. This has also paved the path for large mergers, research collaborations, and partnerships to profit from R&D operations. Aside from commercial businesses, numerous government and government-funded research organisations are aggressively investing in this industry to develop viable treatment options for a variety of chronic conditions such as cancer, Parkinson's disease, diabetes, renal disorders, cardiovascular diseases, and others.

Restraint:

High treatment costs and inadequate reimbursement policies

The high costs of therapy with these products, as well as a lack of reimbursement rules, are major obstacles limiting market expansion. Due to the lack of coverage provided by the major insurance providers, patients' only options are to pay for treatment out of pocket or through crowd fundraising, which delays treatment and inhibits market growth. Moreover, there are limited approved therapies for a wide range of patient population suffering from various genetic disorders which are considerably expensive and may have other side effects which restrains its adoption, limiting the market growth.

Opportunity:

Strategic acquisitions by key market players

One of the most prevalent worldwide regenerative medicine market trends is the incorporation of strategic acquisitions by key competitors in order to expand their R&D capabilities. This market's goods include a variety of unique techniques developed from living cells and protein, enzymes, antibodies, antibody-drug conjugates (ADC), gene and cellular components that have resulted in life-saving medicines for a variety of chronic diseases. However, there may be a mismatch between aspirations and realities when it comes to putting these technologies into clinical practise. Some significant businesses are focusing on acquisitions to boost their R&D capabilities in order to bridge this gap and develop research in diverse clinical applications.

Threat:

Shortage of skilled professionals

The skills necessary are projected to evolve as regenerative medicine progresses. Regenerative medicine bio manufacturing is rapidly expanding, resulting in a mismatch between the skill sets required by labourers in the workplace and the market's incapacity to fill those positions. Despite significant investment in the cell and gene therapies (CGT) business, producing these medicines has proven difficult due to a dearth of competent individuals. A limited workforce and inadequate understanding involved with manufacturing novel and emerging medicines contribute to the slow commercialization of CGTs.

COVID-19 Impact

The COVID-19 pandemic presented profitable chances for operational players due to the urgent need for the discovery of novel medicines against SARS-COV-2. Several projects are being conducted in the cell and gene therapy manufacturing industry, including the T-cell therapy space. For example, the Duke-NUS medical school's emerging infectious diseases research programme in Singapore demonstrated the usefulness of these immunotherapies in treating patients with COVID-19 infection based on earlier research findings. The availability of many initiatives and ongoing funding by government and corporate entities to assist R&D also accelerates the industry's advancement. Similarly, initiatives adopted by market players to raise finance for the R&D of regenerative medicine support the market progression.

The tissue-engineering segment is expected to be the largest during the forecast period

The tissue-engineering segment is estimated to have a lucrative growth, due to increased demand for its products, such as scaffolds, bio matrixes, and others in wound care. The primary reason for the large share of the tissue-engineering segment is the ability to replace a damaged structure with a totally living structure, as well as the promise for finding remedies for previously untreatable medical problems. Furthermore, significant investment in research & development for generating effective treatments, as well as the continuous introduction of new and successful products, are projected to drive demand in the tissue engineering industry.

The oncology segment is expected to have the highest CAGR during the forecast period

The oncology segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the high incidence of cancer globally and increasing demand for development of new technologies for the treatment of cancer. Factors such as the increased prevalence of cancer have resulted in huge unmet cancer patient population demands, and numerous novel medicines, such as CAR-T cell therapy, have been created to meet this demand. Furthermore, increased active government support through research grants and awareness campaigns is adding to the segment's growth.

Region with highest share:

North America is projected to hold the largest market share during the forecast period owing to the presence of a significant number of key players in the U.S. The presence of advanced technology and research institutes involved in the development of innovative treatments contribute to the high number of clinical trials in this region. The availability of finances, as well as many initiatives by government and private organisations, contributes to the largest revenue flow from the United States.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period, owing to the expansion of infrastructure and facilities to accelerate stem cell research in the emerging economies of the region. In Japan, the Ministry of Health, Labor, and Welfare passed the Regenerative Medicine Law in April 2013, paving the way for the clinical development of regenerative and cell-based therapies. Similarly, the Chinese government has allowed various human embryonic stem cell research operations, encouraging researchers to investigate the clinical potential of these cells.

Key players in the market

Some of the key players profiled in the Regenerative Medicine Market include Smith & Nephew plc, Shenzhen SibionoGeneTech Co., Ltd., AstraZeneca, Aspect Biosystems, Integra LifeSciences Corporation, Novartis AG, Medtronic plc, Amgen, Inc., MiMedx Group, Baxter, Eli Lilly & Co., Mesoblast Ltd., Bayer AG, Corestem, Inc., Bluebird Bio, Inc. and Regrow Biosciences Pvt. Ltd.

Key Developments:

In January 2021, Integra LifeSciences Holdings Corporation completed the acquisition of ACell, Inc. Acquiring ACell and its proprietary MatriStem UBM technologies enabled Integra to provide more comprehensive complex wound management solutions to address patients.

In January 2021, Eli Lilly & Co. acquired Prevail Therapeutics with a deal to establish a gene therapy program at pharma giant anchored by Prevail's Adeno-Associated Virus (AAV)9-based gene therapies for patients with neurodegenerative diseases. The deal broadened their commitment to address fatal genetic forms of neurodegenerative disease through new modalities. This acquisition bought critical technology and highly skilled teams to complement the existing expertise at Lilly.

In November 2020, Novartis collaborated with Mesoblast to develop, commercialize and manufacture remestemcel-L for treatment of Acute Respiratory Distress Syndrome (ARDS). As a potential first ARDS therapy, remestemcel-L used Mesenchymal Stromal Cells (MSCs), a cell-based platform technology, to treat this deadly condition and improve outcomes. Novartis intended to initiate a Phase III study in non-COVID-19-related ARDS after the anticipated closing of this license agreement.

In October 2020, Bayer acquired Asklepios BioPharmaceutical to broaden the innovation base in cell and gene therapy. This fueled Bayer's cell and gene therapy platform with potential to bring treatments to patients across multiple disease areas with high unmet need.

In October 2018, Mesoblast Limited expanded its partnership with JCR Pharmaceuticals Co. Ltd. in Japan to the use of mesenchymal stem cells (MSCs) for the treatment of new-borns who lack sufficient blood supply and oxygen to the brain, a condition termed neonatal hypoxic ischemic encephalopathy (HIE).

Products Covered:

• Progenitor and Stem Cell Therapies
• Gene Therapies
• Tissue-Engineering
• Cell Therapies
• Other Products

Materials Covered:

• Genetically Engineered Material
• Synthetic material
• Biologically derived material
• Pharmaceutical

Applications Covered:

• Oncology
• Wound Care
• Cardiovascular
• Musculoskeletal
• Ophthalmology
• Other Applications

End Users Covered:

• Government & Academic Research Institutes
• Hospitals & Clinics
• Commercial Industries

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

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