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The regenerative medicine market is projected to reach a value of USD 70.11 billion, accelerating at a CAGR of 23.31% between 2023 and 2028.
Regenerative Medicine Market Share
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Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rising incidence of chronic diseases is a key driver of market growth. Globally, there is a growing prevalence of conditions like heart disease, diabetes, stroke, cancer, obesity, and arthritis, posing a substantial burden on both patients and healthcare systems. In the US, a significant portion of the population contends with one or more chronic health conditions, with one in four adults facing two or more chronic diseases. Unhealthy lifestyle habits, including insufficient exercise, poor nutrition, and substance abuse (such as alcohol and tobacco addiction), contribute significantly to the risk factors associated with chronic diseases.
The rising significance of Chimeric Antigen Receptor T-cell (CAR-T) therapies is a notable trend influencing market growth. CAR-T therapies, a key development in the global regenerative medicine market, demonstrate the potential of genetically modifying a patient's T-cells to target and eliminate cancer cells, particularly in hematological malignancies like leukemia and lymphoma. FDA-approved CAR-T treatments, such as Kymriah and Yescarta, have shown remarkable success in treating large B-cell lymphoma and refractory B-cell acute lymphoblastic leukemia (ALL).
Furthermore, the established precedent of regenerative medicine in other disease areas enhances the market's growth potential. The ability to engineer a patient's immune cells for personalized, targeted cancer treatments is expected to drive the global regenerative medicine market in the forecast period.
The increasing complexity of regenerative medicine products poses a significant challenge to market growth. These products, including those categorized as Human Cells, Tissues, and Cellular and Tissue-Based Products (HCT/Ps) for cell therapy, exhibit complexity in various aspects, such as donor and tissue sources, product characterization, mechanism of action, potency, efficacy, and safety. Additionally, processes like the extraction and manipulation of an individual's cells for regenerative medicine, particularly ex vivo autologous therapies, are intricate and require diverse procedures and care settings.
This complexity presents challenges for healthcare systems designed for conventional therapies, and there is currently insufficient regulatory framework and reimbursement for such intricate therapies. As a result, the slow adoption rate of highly complex regenerative products is anticipated, posing a hindrance to market growth during the forecast period.
The application segment is classified into oncology, musculoskeletal, dermatology, and immunology and inflammation, and others. The technology segment is classified into cell, tissue-based, and gene therapy. The geography segment includes key regions such as North America, Europe, Asia, and Rest of World (ROW).
The market share growth by the oncology segment will be significant during the forecast period. The global regenerative medicines market is poised for significant growth in the oncology application segment during the forecast period. Government data from organizations such as the World Health Organization (WHO) and the European Medicines Agency (EMA) indicate that a number of variables contribute to this trend.
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The oncology segment was the largest and was valued at USD 5.58 billion in 2018. Regenerative medicine offers cutting-edge cellular therapies such as CAR-T cell therapy and stem cell-based therapeutics. These discoveries have the potential to treat a number of malignancies, including leukemia and lymphoma. Also, Governments are supporting the development of regenerative medicine through regulatory assistance. The market in focus is expanding due to EMA rules on advanced treatment medical products (ATMPs). Governments are supporting the development of regenerative medicine through regulatory assistance. The market in focus is expanding due to EMA rules on advanced treatment medical products (ATMPs). Such factors are expected to fuel the growth of the segment which in turn drives the market growth during the forecast period.
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North America is estimated to contribute 48% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
North America is home to around 510 regenerative medicine companies, with key players like Integra LifeSciences, MiMedx, Organogenesis, and Zimmer Biomet Holdings Inc. driving regional market growth. These companies are actively launching new products and restructuring sales forces to deepen their market presence. Factors such as the increasing prevalence of chronic and acute diseases, a rapidly aging population, high awareness of regenerative therapies, widespread adoption of cell and tissue-based therapy and gene therapy, the significant presence of tissue banks, and a dedicated focus on regenerative medicine collectively contribute to the market's expansion in the region. In Canada, high demand for quality medical technologies, growing healthcare expenditure, and institutional support, particularly from the Centre for Commercialization of Regenerative Medicine, are propelling the adoption of regenerative medicine and fueling market growth.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AbbVie Inc. - The company offers regenerative medicine solutions such as Alloderm select and Alloderm.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Regenerative Medicine Market Scope |
|
Report Coverage |
Details |
Page number |
178 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 23.31% |
Market growth 2024-2028 |
USD 70.11 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
22.43 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 48% |
Key countries |
US, Germany, UK, Japan, and China |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AbbVie Inc., Amgen Inc., Baxter International Inc., Becton Dickinson and Co., Cook Group Inc., F. Hoffmann La Roche Ltd., Gilead Sciences Inc., Integra Lifesciences Corp., Johnson and Johnson, Medtronic Plc, Merck and Co. Inc., Mesoblast Ltd., MiMedx Group Inc., Novartis AG, Nuvasive Inc., Organogenesis Holdings Inc., Smith and Nephew plc, Thermo Fisher Scientific Inc., Vericel Corp., and Zimmer Biomet Holdings Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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