Regenerative Medicine Market Worth $17.9 billion – In Depth Analysis of Growth Dynamics and Recent Developments

PUNE, India, 2021-Jan-14 — /EPR Network/ —

According to the new market research report “Regenerative Medicine Market by Product (Cell Therapies (Autologous, Allogenic), Stemcell Therapy, Tissue-engineering, Gene Therapy), Application (Wound Care, Musculoskeletal, Oncology, Dental, Ocular), Geography – Global Forecast to 2025” published by MarketsandMarkets™, is expected to reach USD 17.9 billion by 2025 from USD 8.5 billion in 2020, at a CAGR of 15.9%.

Regenerative Medicine Market Dynamics in Depth:

Driver: Growing prevalence of chronic diseases, genetic disorders, and cancer;

Over the last few decades, the incidence and prevalence of chronic diseases such as CVD, cancer, diabetes, ulcers, and genetic disorders such as cystic fibrosis have increased significantly across the globe. Diabetes and obesity can result in the increased incidence and complexity of wounds such as infections, ulcerations (leg or foot ulcers), and surgical wounds, which require treatments and incur exorbitant medical expenses.

Restraint: High cost cell and gene therapies;

Cell and gene therapies represent a significant scientific and medical advancement for patients suffering from terminal illnesses and serious disorders. These therapies are helping to transform how diseases are treated and potentially cured. Furthermore, such therapies will eventually enable doctors and medical professionals to infuse genes/cells via injectable means in order to avoid a series of drugs and multiple surgeries in patients. However, despite the fact of these therapies being lifesavers and more effective compared to the traditional treatments, the response in terms of demand for these therapies is less compared to the anticipation. This can be attributed to the high costs of these therapies and difficulty in obtaining reimbursements and coverage for these therapies.

Recent Developments;

• In February 2020, Integra Lifesciences (US) launched AmnioExcel Plus Placental allograft membrane.
• In November 2019, Stryker Corporation (US) acquired Wright Medical (US) to strengthen its product portfolio.
• In March 2019, Smith & Nephew (UK) acquired Osiris Therapeutics (US) to strengthen its product portfolio.

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The tissue-engineered products segment accounted for the largest share of the regenerative medicine market

Based on products, is segmented into tissue-engineered products, cell therapies, gene therapies, and progenitor and stem cell therapies. The tissue-engineered products segment accounted for the largest share in market. The increasing adoption of tissue-engineered products for the treatment of chronic wounds and musculoskeletal disorders and the rising funding for the R&D of regenerative medicine products and therapies are the major factors driving the growth of this segment.

Oncology segment to register the highest growth rate during the forecast period

Based on applications, is segmented into musculoskeletal disorders, wound care, oncology, ocular disorders, dental, and other applications. In 2019, the oncology segment accounted for the highest growth rate. This can be attributed to the rising prevalence of orthopedic diseases, growing geriatric population, increasing number of stem cell research projects, growing number of clinical researches/trials, and the rich pipeline of stem cell products for the treatment of musculoskeletal disorders.

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Leading Key Players in the Worldwide Industry:

The major players operating in regenerative medicine market are 3M (US), Allergan plc (Ireland), Amgen, Inc. (US), Aspect Biosystems (Canada), bluebird bio (US), Kite Pharma (US), Integra LifeSciences Holdings Corporation (US), MEDIPOST Co., Ltd. (South Korea), Medtronic plc (Ireland), Anterogen Co., Ltd. (South Korea), MiMedx Group (US), Misonix (US), Novartis AG (Switzerland), Organogenesis Inc. (US), Orthocell Limited (Australia), Corestem, Inc. (South Korea), Spark Therapeutics (US), APAC Biotech (India), Shenzhen Sibiono GeneTech Co., Ltd. (China), Smith & Nephew plc (UK), Stryker Corporation (US), Takeda Pharmaceutical Company Limited (Japan), Tego Science (South Korea), Vericel Corporation (US), and Zimmer Biomet (US).

Geographical Regions Mapped in Report:

The regenerative medicine market is segmented into four major regions, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW). In 2019, North America accounted for the largest share in the market. The growth in the North American market can be attributed to rising stem cell banking, tissue engineering, and drug discovery in the region; expansion of the healthcare sector; and the high adoption of stem cell therapy and cell immunotherapies for the treatment of cancer and chronic diseases.