The "Regenerative Medicine Market by Product, by Material, by Application - Global Opportunity Analysis and Industry Forecast, 2020 - 2030" report has been added to ResearchAndMarkets.com's offering.
The Global Regenerative Medicine Market size is estimated to be USD 13.22 billion in 2019 and is predicted to reach USD 172.17 billion by 2030 with a CAGR of 26.2% from 2020-2030.
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. Stem cell plays an important role in regenerative medicine as they are capable of proliferating and differentiating into all cell types in an organism, including extra-embryonic tissues.
Market Dynamics and Trends
Increased pipeline of regenerative medicine products along with growing government investments in the research of regenerative medicine are likely to drive the overall regenerative medicine market growth. Also, rising demand for organ transplantation and increasing awareness about use of regenerative medicine therapies in organ transplantation and implementation of the 21st Century Cures Act, a U.S. law enacted by the 114th United States Congress in December 2016 are likely to create growth opportunities in the market.
The other factors such as technological advancement, increased adoption of regenerative medicine, shortage of organs for organ transplantation with involvement of stem cells are expected to promote the market growth. Further, improvements in surgical techniques and untapped market potential are also expected to enhance the growth of regenerative medicine market during the forecast period.
However, high cost of treatment and stringent government regulations are expected to hinder the market growth. On the other hand, the increase in research and development activities and clinical trials are expected to create ample opportunity in the regenerative medicine market in the near future.
Market Segmentation and Scope of the Study:
The global regenerative medicine market share is analyzed on the basis of product type, material, application and geography. On the basis of product type, the market is segmented into cell therapy, gene therapy, tissue engineering, and small molecule & biologic. On the basis of material, the market is segmented into synthetic material, biologically derived material, genetically engineered material, and pharmaceuticals.
The synthetic materials are sub segmented into biodegradable synthetic polymer, scaffold, artificial vascular graft material, and hydrogel material. The biologically derived material segment is further divided into collagen and xenogeneic material. The genetically engineered material segment is further sub segmented into deoxyribonucleic acid transfection vector, genetically manipulated cell, three-dimensional polymer technology, transgenic, fibroblast, neural stem cell, and gene-activated matrices. The pharmaceutical segment is further sub segmented into small molecule and biologic.
On the basis of application, the market is divided into cardiovascular, oncology, dermatology, musculoskeletal, wound healing, ophthalmology, neurology, and others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
North America denotes the increased adoption of regenerative medicine and holds the major market share owing to the high disposable income, technological advancement, and increased prevalence of chronic disorders in this region. Also, developed healthcare facilities and infrastructure are also expected to augment the growth of regenerative medicine market in U.S. and Canada.
Asia Pacific is expected to grow rapidly over the forecast period owing to the presence of emerging economies such as China, India, Vietnam among others coupled with increasing accessibility to healthcare facilities.
The regenerative medicine market, which is highly competitive and consists of various market players. Some of the major market players include Athersys, Inc., Stryker Corporation, Zimmer Biomet Holdings, Inc., Medtronic Plc., Organogenesis, Inc. (Advanced Biohealing), U.S. Stem Cell, Inc. (Bioheart, Inc.), Integra Lifesciences Holdings Corporation, Acelity Holdings, Inc., Isto Biologics (Isto Biologics Medical Systems, Inc.), and CryoLife, Inc. among others.
There have been various developments taking place in the market that further boost the growth of overall regenerative medicine market. For Instance, in March 2019, Smith & Nephew plc has announced that it has agreed to acquire Osiris Therapeutics, Inc. which is a manufacturer of regenerative medicine products, including skin, bone graft and articular cartilage substitutes, for $19.00 per share in cash, representing a total equity value of approximately $660 million.
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