The global regenerative medicine market had a market size of USD 7.34 billion in 2019, and is expected to reach a market size of USD 23.57 billion in 2027, and register a revenue growth rate of 15.6% over the forecast period. Major factors driving demand for regenerative medicines include advancements in surgical technology and monitoring devices, and increasing prevalence of complex and degenerative diseases globally.
Other factors driving regenerative medicine market growth include emergence of stem cell technology, and advancements in surgical technologies. However, stringent regulations and high cost of treatment are primary factors expected to hamper growth of the market. Untapped potential of nanotechnology is also contributing significantly to new and more advanced technologies in the market. Nanotechnology is a powerful tool in regenerating tissues for recreating the nanoscale features. Nanotechnology is majorly employed in the field of biomedicals to control the proliferation and preservation of stem cells.
Stem cell technology is growing rapidly and is playing a crucial role in regenerative medicine. The technology provides the possibility of treating Parkinson’s Disease, arthritis, and spinal cord injury. Increase in demand for stem cell technology is expected to continue to support growth of the regenerative medicine market. Recent developments in regenerative medicine for 3D bioprinting, stem cell treatment for heart repair, and vision loss has created rising need for additional investments into R&D initiatives related to this technology to help with study of other diseases.
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The product segment segmented into tissue-engineered products, cell therapies, gene therapies, and progenitor & stem cell therapies. The tissue-engineered product segment accounted for the largest revenue share in the regenerative medicine market in 2019. Advancements in tissue-engineering has had a major impact in regenerative medicine due to the development of 3D bioprinting of organs and tissues. High demand for 3D bioprinting of tissues and organs to better understand their mechanism is driving the revenue growth of this segment.
The application segment is segmented into musculoskeletal disorders, oncology, wound care, dental, ocular disorders, among others. Cancer is a growing cause of concern id the world currently. Pharmaceutical companies are investing in cancer research and development of regenerative medicines to develop effective medicines to treat the disease. Oncology application segment revenue is expected to register a relatively higher growth rate compared to that of other application segments during the forecast period.
The regions covered include North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia Pacific is expected to register a higher revenue growth rate during the forecast period due to major expansion of healthcare infrastructure in developing economies, and increasing investment in research and development of regenerative medicine.
- The regenerative medicine market has been witnessing increased demand during the COVID-19 pandemic. Regenerative medicine is helping in understanding the mechanism of infection and to develop ways to prevent the spread of COVID-19.
- Gene therapy is a growing medical field and research is ongoing to use genetic material to reduce disease-causing versions of protein and produce new, or modify proteins.
- Europe accounted for a revenue share of 29.4% in regenerative medicine market in 2019, which is predicted to increase at a rate of 16.0% during the forecast period.
- Regenerative medicine uses autologous stem cell to treat chronic and acute wounds related to diabetes and burns. It helps in healing the wound faster and preventing serious surgeries, such as infection and/or amputation.
Companies considered and profiled in this market study
MiMedx Group, Inc., Merck & Co., Inc., Integra LifeSciences Corporation, Pfizer Inc., F. Hoffmann-La Roche Ltd., AstraZeneca, Smith & Nephew Plc, Stryker Corporation, Amgen, Inc., and 3M Group, has been profiled in the report. These companies are significant contributors in regenerative medicine.
Players operating in the market are focusing on adopting and deploying various strategies to gain the advantage in an intensely competitive market. Some key highlights are:
- In January 2021, Direct Biologics announced the launch of AmnioWrap, which is a new advanced tool in regenerative medicine. It is a placental-based sheet allografts used in acute and chronic wounds.
The industry offers numerous growth opportunities, and a number of startups providing innovative products and technologies have been entering the market. As the market is witnessing rapid proliferation of new and more advanced technologies, several new startup companies are focusing on entering the market to leverage high potential opportunities these developments offer.
Mergers and acquisitions are an integral part of the regenerative medicine industry.
- In December 2020, Collagen Matrix, Inc. announced the acquisition of Sunstar\’s Degradable Solutions division, which includes its GUIDOR brand. GUIDOR is a line of resorbable synthetic medical implants.
Reports and Data predicts encouraging advances to accelerate the use of regenerative medicine. According to industry analysts, new entrants in the market need to focus on innovating and integrating through development and deployment of new technologies while reducing complexity and lowering total operational costs. Experts also believe that increasing implementation of emerging technologies in developed economies would open up a critical growth field for the industry. Company strategy review indicates that most businesses concentrate on product launches, as well as negotiations to increase revenue share and scale. Both approaches contribute to advancements of the technologies and product diversification in untapped regions. Businesses implement these approaches to diversify their business within industries.
Segments Covered in the Report
This report provides forecasts for revenue growth at global, regional, and country levels, and provides an analysis of the market trends for each segment from 2019 to 2030. The scope of the report can be defined as:
For the purpose of this report, Reports and Data has segmented into the global regenerative medicine market on the basis of product, application, material, and region:
Regenerative Medicine Market Report Scope
Segments covered By Product Outlook, Application Outlook, Material Outlook, Regional Outlook
By Product Outlook
Progenitor & Stem Cell Therapies
By Application Outlook
By Material Outlook
Biologically Derived Material
Genetically Engineered Material
Middle East & Africa
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