Global Regenerative Medicine Market Size, Trends & Growth Opportunity, By Product (Tissue-engineered Products, Cell Therapies, Gene Therapies, and Progenitor & Stem Cell Therapies), By Application (Musculoskeletal, Oncology, Wound Care, Dental, Ocular, Other Applications), By Region and Forecast till 2030

Regenerative Medicine Market

The global Regenerative Medicine market was valued at US$ 28.50 Bn in 2020, estimated to reach US$ 155.40 Bn in 2030 with a CAGR of 23.41% from 2021-2030.

Market Drivers: Rising occurrence of chronic diseases, genetic disorders, and cancer

Over the last few decades, the occurrence of chronic diseases such as cardiovascular diseases, cancer, diabetes, ulcers, and genetic disorders such as cystic fibrosis have increased significantly across the globe. Diseases such as 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 excessive medical expenses. For instance, according to International Diabetes Federation (IDF), in 2019, a total of 463 million people were estimated to be living with diabetes, representing 9.3% of the global adult population (20–79?years). This number is expected to increase to 578 million (10.2%) in 2030 and 700 million (10.9%) in 2045. The prevalence of diabetes in women in 2019 was estimated to be 9.0%, and 9.6% in men. Therefore, innovation of regenerative medicines have helped the healthcare industry to address the challenges of growing chronic disorders.

Market Challenges: High cost of cell and gene therapies

The high prices of pioneering gene therapies are influencing stringent considerations from the perspective of its value, affordability and payment methods. For instance, the Boston-based Institute for Clinical and Economic Review (ICER) recently had its say on the cost-effectiveness of the first two chimeric antigen receptor T-cell (CAR-T) drugs for aggressive blood cancers: Basel, Switzerland-based Novartis' Kymriah (tisagenlecleucel) is priced at US $475,000, and Foster City, California-based Gilead's Yescarta (axicabtagene ciloleucel), at US $373,000. On the other hand the Philadelphia-based Spark Therapeutics' gene therapy Luxturna (voretigene neparvovec), which treats an inherited form of blindness, is at least twice as expensive as it should be given its clinical benefits. Thus, the high cost of gene therapies are restraining the growth of regenerative medicine market.

Market Opportunities: Adoption of the 21st Century Cures Act

The passing of 21st Century Cures Act was signed into law in the US in December 2016. Among other purposes, this law has been sanctioned to develop regenerative medicine research and medical innovation and covers various provisions that may impact the development and consent of several products in the coming years. The law includes information on the standards for regenerative medicine and regenerative advanced therapies. This initiatives taken by the concerned authorities have enabled the pharmaceutical companies to further implement and adopt standard procedure towards the research and development of the regenerative medicine and its manufacturing. Furthermore, rising demand for organ transplantations have also created lucrative opportunities for the regenerative medicine market towards growth.

Impact of COVID-19 on the Regenerative Medicine

The spread of COVID-19 pandemic has caused serious impacts on the global economy at various levels and on various industries which can be seen on the Regenerative Medicine industry. This pandemic has disrupted growth in many economies across various domains. The COVID-19 outbreak has impact the regenerative medicine market in the initial phase of the forecast period. Owing  to the nationwide lockdowns, denied wound care services, cancelled or postponed elective surgeries, and increasing skin injuries in COVID-19 medical care providers, the regenerative medicine market is expected to register a certain decline during the forecast period. However, during the latter half of the forecast period, the demand for regenerative medicine products is expected to rise drastically. The slow and steady unlocking of the nations have also enabled the hospitals and healthcare facilities to open from the point of view of surgical and prolonged or geriatric disorder. This unlocking has in-turn encouraged the growth of regenerative medicines market.

Regenerative Medicine Market, By Product

On the basis of product, regenerative medicine Market is segmented into Tissue-engineered Products, Cell Therapies, Gene Therapies, and Progenitor & Stem Cell Therapies. The tissue-engineered products segment accounted for the largest share in the regenerative medicine market in 2020. The increase in adoption of tissue-engineered products for the treatment of chronic wounds & musculoskeletal disorders and the rising funding for the Research and Development of regenerative medicine products and therapies are the major factors driving the growth of this segment.

Regenerative Medicine, By Application

By Application, Musculoskeletal is poised to grow at a significant rate during the forecast period, followed by wound care and dental application. The rising geriatric population, which is prone to various musculoskeletal, oncological, dermatological and cardiac disorders, is stimulating the market growth. Moreover, widespread adoption of organ transplantation is also contributing to the market growth.

Regenerative Medicine Market, By Region

North America is estimated to dominate the global regenerative medicine market, with largest market share of about 36.42% in 2030.

European region was the second largest market with 22.54% market share in 2020 and is estimated to grow at a CAGR of 23.52% during the analysis period.

Recent Developments:

In December 2020: Integra Lifesciences Corporation wants to expend its Orthopedics and Tissue Technologies (OTT) segment through acquisition.  In December 2020, the company had acquired Acell Inc., innovative regenerative medicine company with a product portfolio based on a proprietary porcine urinary bladder matrix platform technology. Under this acquisition, Acell expands regenerative capabilities and it is complementary to Integra Lifesciences Corporation's existing tissue technologies portfolio.

In April 2019: Isto Biologics (Isto Biologics Medical Systems, Inc) is a biologics & regenerative medicine company providing advanced solutions in bone repair as well as cell-based therapies, had introduced its new Cortical Fiber Technology (Influx Demineralized Cortical Bone Fibers) to its existing portfolio of bone healing & autologous cellular solutions.

Market key Players

Various leading players are listed in this report such as Acelity Holdings, Inc. (Lifecell Corporation), Athersys, Inc., Cryolife, Inc., Integra Lifesciences Corporation, IstoBiologics (IstoBiologics Medical Systems, Inc.), Medtronic Plc, Organogenesis Inc., Stryker Corporation, Stem Cell, Inc. (Bioheart, Inc.), Zimmer Biomet Holdings, Inc., etc.

Market Taxonomy

By Product

• Tissue-engineered Products
• Cell Therapies
• Gene Therapies
• Progenitor & Stem Cell Therapies

By Application

• Musculoskeletal
• Oncology
• Wound Care
• Dental
• Ocular
• Other Applications

By Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

Key Questions Addressed by the Report

• What are the Key Opportunities in Global Regenerative Medicine Market?
• What will be the growth rate from 2020 to 2030?
• Which segment/region will have highest growth?
• What are the factors that will impact/drive the Market?
• What is the competitive Landscape in the Industry?
• What is the role of key players in the value chain?