Rise in incidence of chronic diseases, increase in geriatric
population and growth in acceptance of stem cell therapies are the
major factors which drive the global market growth.
WILMINGTON, Del., Aug. 6, 2024 /PRNewswire/ -- Allied Market
Research published a report, titled, "Regenerative
Medicine Market by Product Type (Cell Therapy, Gene Therapy,
Tissue Engineering and Small Molecule & Biologic), Material
(Synthetic Material, Biologically Derived Material, Genetically
Engineered Material and Pharmaceutical), and Application
(Cardiovascular, Oncology, Dermatology, Musculoskeletal, Wound
Healing, Ophthalmology, Neurology and Others): Global Opportunity
Analysis and Industry Forecast, 2024-2033". According to the
report, the regenerative medicine market was valued at $32.1 billion in 2023, and is estimated to reach
$531.7 billion by 2033, growing at a
CAGR of 32.4% from 2024 to 2033.
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Forecast 2033 -
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Prime determinants of growth
Rise in incidences of chronic diseases and increase in geriatric
population are the major factors that drive the growth of the
regenerative medicine market growth. However, high costs of
treatment hinder the market growth. Moreover, technological
advancements and regulatory Support and funding offers remunerative
opportunities for the expansion of the global regenerative medicine
market.
Report coverage & details
Report
Coverage
|
Details
|
Forecast
Period
|
2024–2033
|
Base
Year
|
2023
|
Market Size In
2023
|
$32.1billion
|
Market Size In
2033
|
$531.7
Billion
|
CAGR
|
32.4 %
|
No. Of Pages In
Report
|
216
|
Segments
Covered
|
Product Type, Material,
Application, And Region.
|
Drivers
|
Rise In Incidences of
Chronic Diseases
|
|
Increase In Geriatric
Population
|
|
Growing Acceptance of
Stem Cell Therapies
|
Opportunities
|
Technological
Advancements
|
|
Regulatory Support and
Funding
|
Restraints
|
High Costs of
Treatment
|
|
Ethical And Safety
Concerns
|
Segment Highlights
The cell therapy segment to maintain its leadership status
during the forecast period
By product type, the cell therapy segment generated the highest
revenue in the regenerative medicine market in 2023. Cell therapy
is a cornerstone of regenerative medicine, leveraging the
therapeutic potential of stem cells and other cellular materials to
repair, replace, or regenerate damaged tissues and organs. By
harnessing the regenerative properties of cells, this approach
offers promising solutions for treating a wide range of diseases
and injuries, improving patient outcomes and quality of
life.
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The biologically segment to maintain its leadership status
during the forecast period
By material, the biological segment generated the highest
revenue in the regenerative medicine market in 2023. Biologically
derived materials are increasingly sought after in regenerative
medicine due to their compatibility with the body's natural healing
processes. These materials, such as extracellular matrix scaffolds
and growth factors derived from tissues or organisms, provide a
supportive environment for cell growth, differentiation, and tissue
regeneration. Their biocompatibility and bioactivity make them
ideal candidates for promoting tissue repair and regeneration in
various medical applications, driving their demand in regenerative
therapies.
The oncology segment to maintain its leadership status during
the forecast period
By application, the oncology segment generated the highest
revenue in the regenerative medicine market in 2023. The growing
prevalence of chronic diseases, particularly cancer, underscores
the need for innovative treatment approaches like regenerative
medicine. Cancer cases often result in tissue damage from
treatments such as chemotherapy or surgery. Regenerative therapies
offer promising solutions by harnessing the body's natural
regenerative capacities to repair or replace damaged tissues,
potentially improving patient outcomes and quality of life in
cancer care.
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Regional Outlook
The regenerative medicine market exhibits a promising regional
outlook, with North America and
Europe leading in terms of market
share due to advanced healthcare infrastructure, supportive
regulatory frameworks, and robust research and development
activities. In contrast, the Asia-Pacific region is poised for rapid
growth, driven by increasing healthcare expenditure, expanding
biotechnology sectors, and rising awareness of regenerative
therapies. Emerging economies in Latin
America and the Middle East
& Africa are also witnessing
growing interest and investment in regenerative medicine
technologies.
Key Players
- Stryker Corporation
- Zimmer Biomet Holdings Inc.
- Medtronic Plc.
- Athersys Inc.
- Stem Cell Inc. (Bioheart Inc.)
- Organogenesis Inc.
- Integra Lifesciences Holdings Corporation
- Acelity Holdings Inc.
- Isto Biologics (Isto Biologics Medical Systems Inc.)
- CryoLife Inc.
The report provides a detailed analysis of these key players in
the global regenerative medicine market. These players have adopted
different strategies such as expansion, acquisition, product
approval, product launch and others to increase their market share
and maintain dominant shares in different regions. The report is
valuable in highlighting business performance, operating segments,
product portfolio, and strategic moves of market players to
showcase the competitive scenario.
Recent Industry Development
- In December 2023, The
University of Toronto's Medicine by
Design initiative and CCRM, a non-profit organization that supports
the development and commercialization of regenerative medicines,
announced a launch of new strategic alliance to unlock Toronto's potential as a world-leading
ecosystem for regenerative medicine. The goal of the alliance is to
create coordinated, end-to-end capacity that spans discovery
through to clinical translation and commercialization.
- In January 2021, Integra
LifeSciences Holdings Corporation, a global leader in regenerative
tissue technologies and neurosurgical solutions, announced that it
has completed the previously disclosed acquisition of ACell, Inc.
Acquiring ACell and its proprietary MatriStem UBM technologies will
enable Integra to provide more comprehensive complex wound
management solutions to address our customers' most pressing
clinical challenges.
- In August 2023, Gilead Sciences
and Tentarix Biotherapeutics entered into three multi-year
collaborations to leverage Tentarix's Tentacles platform for the
discovery and development of innovative, multi-functional
protein-based therapies for cancer and inflammatory
diseases.
- In December 2022, Integra
LifeSciences Holdings Corporation, a global leader in regenerative
tissue technologies and neurosurgical solutions, announced that it
has successfully completed its acquisition of Surgical Innovation
Associates (SIA) . This acquisition is a highly strategic move to
enable us to achieve our aspirations to become a global leader and
innovator of implant-based breast reconstruction (IBBR)
procedures.
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