Regenerative Medicine Market
Industry: Healthcare
Published Date: July-2024
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 249
Report ID: PMRREP34638
The global regenerative medicine market is estimated to value at US$109.4 Mn by the end of 2031 from US$32.3 Mn anticipated in 2024. The market is expected to secure a CAGR of 19.1% from 2024 to 2031.
Key Highlights of the Market
|
Market Attributes |
Key Insights |
|
Global Regenerative Medicine Market Size (2024E) |
US$32.3 Mn |
|
Projected Market Value (2031F) |
US$109.4 Mn |
|
Forecast Growth Rate (CAGR 2024 to 2031) |
19.1% |
|
Historical Growth Rate (CAGR 2019 to 2024) |
8.4% |
Technological developments in gene editing, genomics, and cell biology are expected to drive the industry's expansion. Regenerative medicines based on stem cells are undergoing in-clinical trials with the potential to repair damaged specialized cells in numerous life-threatening conditions, including cancer, Alzheimer's, neurological disorders, and spinal cord injuries.
For instance, human embryonic stem cells, or hESCs, are being used by several research organizations to treat age-related macular degeneration (AMD).
AMD is a condition that results in the loss and malfunction of retinal pigment epithelium (RPE) cells due to cumulative damage to the choriocapillaris, Bruch's membrane, and RPE.
Furthermore, AMD is one of the main reasons why older people lose their vision. It is thus expected that the increase in stem cell therapies in clinical trials for heart failure, diabetes type 1, and spinal cord injury will have an impact on market growth.
Advances in technology like tissue engineering, stem cells, and nanotechnology have made the study of regenerative therapeutics very interdisciplinary. Undifferentiated stem cells can repair and/or regenerate into many types of cells, including muscle, bones, tendons, and ligaments.
The regenerative medicine market has witnessed substantial growth over the past five years, driven by technological advancements, increased funding, and a growing understanding of regenerative therapies' potential. This analysis examines the historical growth of the market from 2018 to 2023 and outlines the anticipated trajectory for the years ahead.
The increasing prevalence of chronic diseases such as diabetes, orthopaedic ailments, and cardiovascular disorders is driving the market for regenerative medicine.
Innovative therapy interventions are required to address these pervasive health issues. The focus on tissue repair and regeneration in regenerative medicine makes it apparent that treating the underlying causes of chronic illnesses is essential.
Cutting edge methods including gene treatments, tissue engineering, and stem cell therapies are becoming more and more popular.
Rising R&D Investments
Rising investments in research and development within the regenerative medicine sector are accelerating the introduction of innovative products.
The heightened focus on R&D is fostering advancements in technologies such as stem cell therapies, tissue engineering, and gene editing, leading to the development of novel treatments for various diseases and conditions.
As a result, the regenerative medicine market is experiencing robust growth driven by the continuous evolution and expansion of therapeutic options that promise to transform healthcare outcomes globally.
Expensive Treatments, and Insufficient Insurance Coverage
The high costs of treatments and inadequate reimbursement policies are significant barriers to market growth. Many stem cell therapies are considered experimental or investigational, leading to limited insurance coverage, particularly under Medicare. This results in a substantial portion of costs being borne out-of-pocket by patients.
Medicare typically covers only FDA-approved treatments like allogeneic transplantation, further restricting access to reimbursed treatments in regenerative medicine.
The absence of coverage from major insurance providers forces patients to finance treatment costs out-of-pocket or through crowdfunding, delaying access to care and potentially stalling market growth.
Additionally, the limited availability of approved therapies for a broad spectrum of patients with genetic disorders, coupled with their high costs and potential side effects, further hampers adoption and constrains market expansion.
Advancements in Gene Editing
Broadening applications beyond current therapeutic areas like orthopaedics and oncology to include neurology, cardiovascular diseases, and rare genetic disorders.
As well as Harnessing CRISPR, and other gene editing technologies for precise modifications in cell therapies, enhancing efficacy and safety.
These opportunities position regenerative medicine companies to capitalize on growing demand for innovative treatments and to contribute significantly to the future of healthcare through transformative therapies.
|
Category |
Projected CAGR through 2031 |
|
Product Type– Cell Therapy |
16.8% |
|
Application – Oncology |
17.6% |
Cell Therapy Continues to be the Bestseller Product Type
In 2023, the cell therapy segment held a substantial share of market revenue. Cell therapy offers a range of healthcare benefits, leveraging cells such as mesenchymal stem cells to play a crucial role in tissue healing and regeneration for both injuries and degenerative conditions.
This particular approach provides personalized treatment by tailoring interventions to each individual's medical condition and genetic profile.
Autologous cell therapy especially minimizes risks of side effects and rejection, ensuring safety. Its versatility extends to the treatment of neurological disorders, cardiovascular diseases, autoimmune conditions, and cancers.
With the potential for long-term efficacy, reduced risk of relapse, and quicker recovery times, cell therapy is poised as a transformative advancement in precision medicine.
Oncology Set to Explore Excellent Prospects
In terms of application, the global regenerative medicine market is segmented into orthopaedics, wound care, oncology, rare diseases, and other therapeutic areas.
The orthopaedics segment dominated the global regenerative medicine market share in 2023, driven by a growing prevalence of osteoarthritis and bone-related injuries. This has spurred the adoption of regenerative medicine products aimed at enhancing the healing process and alleviating pain and discomfort, thereby fuelling the segment's growth.
The oncology segment is projected to exhibit a higher CAGR during the forecast period. Factors contributing to this growth include the increasing incidence of cancer and the resultant unmet medical needs among cancer patients. Novel therapies such as CAR-T cell-based therapy have shown promising results, prompting their adoption.
Additionally, government support through research grants and awareness programs is expected to bolster the segment's expansion. Furthermore, strategic initiatives by market players to diversify their product portfolios are anticipated to further propel growth.
In November 2023, Kite and Arcellx, Inc. expanded their collaboration to include Arcellx's CART-ddBCMA therapy for lymphomas, indicating increased focus and investment in oncology treatments within the regenerative medicine sector.
|
Region |
CAGR through 2031 |
|
North America |
16.0% |
|
Europe |
18.8% |
North America Leads the Way, Majorly Driven by Rigorous Clinical Trials
In 2023, North America emerged as the dominant region in the global regenerative medicine market. This region is distinguished by its pioneering research capabilities and academic excellence, notably at institutions like Harvard and MIT, which drive advancements in fields such as stem cell therapies and tissue engineering.
Rigorous clinical trials overseen by stringent regulatory bodies like the US FDA encompass a wide range of regenerative therapies, fostering continuous innovation in the sector.
Strong collaborations among biotechnology firms, academia, and pharmaceutical companies further accelerate the development of new products, particularly in applications related to musculoskeletal and orthopaedic treatments.
North America's leadership in gene therapies and advanced therapeutic medicinal products underscores its commitment to cutting-edge medical advancements.
Patient advocacy groups play a crucial role in raising awareness about regenerative medicine, while the region actively participates in global collaborations aimed at establishing international standards and best practices in the field.
Europe to be the Second Largest Regional Player
Europe market is projected to secure a CAGR of 18.8% in the forecast period from 2024 to 2031. Europe is expected to rank as the second-largest region in terms of revenue in the regenerative medicine market. This projection is driven by emerging government regulations that support the adoption of these therapies and favorable reimbursement policies.
Additionally, Europe benefits from a significant number of research institutes and increasing governmental funding, which are anticipated to further propel market growth in the region.
The regenerative medicine market is populated by a wide array of participants, and the anticipated influx of new entrants is set to heighten competitive pressures. Established market leaders continuously enhance their technologies to sustain their competitive edge, focusing on efficiency, reliability, and safety.
Prominent organizations prioritize strategic actions such as forming alliances, refining product portfolios, and engaging in cooperative ventures, all aimed at surpassing their industry peers. Their overarching objective is to capture a significant share of the regenerative medicine market.
Recent Industry Developments
October 2023
Editas Medicine, Inc. announced that the U.S. Food and Drug Administration (FDA) granted the Regenerative Medicine Advanced Therapy (RMAT) designation to EDIT-301. This investigational gene editing medicine is specifically designed to treat severe sickle cell disease (SCD).
January 2023
DiscGenics, Inc. announced that the U.S. Food and Drug Administration (FDA) granted the Regenerative Medicine Advanced Therapy (RMAT) designation to Injectable Disc Cell Therapy (IDCT), also known as rebonuputemcel. This therapy is designed as an injectable, allogeneic discogenic progenitor cell therapy aimed at treating symptomatic lumbar degenerative disc disease (DDD).
|
Attributes |
Details |
|
Forecast Period |
2024 to 2031 |
|
Historical Data Available for |
2018 to 2023 |
|
Market Analysis |
US$ Million for Value |
|
Key Regions Covered |
|
|
Key Market Segments Covered |
|
|
Key Companies Profiled in the Report |
|
|
Report Coverage |
|
|
Customization & Pricing |
Available upon request |
By Product Type
By Application
By End User
By Region
To know more about delivery timeline for this report Contact Sales
As the global population ages, there is a higher prevalence of chronic diseases and age-related conditions that conventional medicine struggles to treat effectively.
Some of the key players operating in the market are AstraZeneca plc, F. Hoffmann-La Roche Ltd., Integra Lifesciences Corp., Astellas Pharma, Inc., Cook Biotech, Inc., and Bayer AG.
North America, and Europe have been experiencing some of the highest growth rates in the regenerative medicine market.
The future of regenerative medicine is promising, with numerous personalized medicine, advancements in stem cell therapies, gene editing technologies and regulatory advancements.
The US holds the largest share of this market.
