According to Vision Research Reports, the global regenerative medicine market size is expected to surpass around US$ 5.65 billion by 2030 from valued at US$ 2.65 Billion in 2020 and is anticipated to grow at a CAGR of 11.10% during forecast period 2022 to 2030.
According to Vision Research Reports, the global regenerative medicine market size is expected to surpass around US$ 5.65 billion by 2030 from valued at US$ 2.65 Billion in 2020 and is anticipated to grow at a CAGR of 11.10% during forecast period 2022 to 2030.
Report Takeaway
- By product, regenerative medicine market was valued at US$ 2.1 billion in 2021.
- The therapeutics segment accounted for the maximum revenue share of more than 58% in 2021
- The application of regenerative therapies accounted largest revenue share of 33% in 2021.
- North America dominated the global market in 2021 with a revenue share of more than 47%.
- In the US, about 1.9 Billion new cancer cases will be diagnosed in 2021.
Immediate Delivery Available | Get the sample copy of report@ https://www.visionresearchreports.com/report/sample/37103
Regenerative medicine is an emerging field that aims to repair and replace damaged organs and tissues. It is potential for the treatment of chronic diseases and disorders, such as Alzheimer disease, diabetes, and others.
Cell therapy involves the use of cellular materials such as stem cells, autologous cells, xenogeneic cells, and others, for the therapeutic treatment of patients. Cell therapy is used to replace damaged cells, deliver therapies to target tissues/organs, stimulate self-healing, and other applications in the regenerative medicine market. Gene therapy involves the therapeutic delivery of nucleic acid polymers or genes into a patient’s cells to treat or prevent diseases.
Growth Factors
Regenerative medicines are expected to have a significant impact in healthcare to treat specific indications and chronic conditions. Therefore, high prevalence of cancer, neurodegenerative, orthopedic, and other aging-associated disorders coupled with increasing global geriatric population is driving the market growth. Moreover, rising prevalence of inheritable genetic diseases is anticipated to fuel the demand in the field of biotechnology field.
A strong product pipeline in clinical trials and the presence of government and private funding to support research is anticipated to boost the growth. A robust pipeline is indicative of the high potential of products in the future. The companies are investing heavily in R&D to upgrade their products with the latest technology and to cater to the unmet consumer needs. Key players are investigating and developing pipeline products for diabetes and
Driver
Advances in cancer biologics will fuel the expansion of precision medicine. The development of newer therapeutic techniques, such as gene therapy for cancer treatment, as well as an increase in the number of patients receiving predictive diagnostics, will drive market expansion.
On the other hand, hefty costs and the possible harm to personal health data are two considerations that may stymie Precision Medicine Market growth. COVID-19 has been seen to have a minor and short-term impact on the industry. This damage was mostly caused by supply chain disruption and lockdowns implemented in a number of countries. However, after the lockdowns were lifted and supply was released, the Precision Medicine Market swiftly recovered.
Restraint
Precision medicine is undoubtedly progressing to new heights. However, the increasing costs of diagnostics may limit the market’s growth. A significant quantity of personal data is generated during the diagnosis and treatment process, and there is a potential threat linked with it that could limit the expansion of the precision medicine market. Stringent restrictions and standards are impeding the growth of the personalized medicine sector.
Scope of the Report
| Report Coverage | Details |
| Market Size in 2021 | USD 2.65 Billion |
| Revenue Forecast by 2030 | USD 5.65 Billion |
| CAGR from 2022 to 2030 | 11.10% |
| Largest Market | North America |
| Fastest Growing Region | Asia Pacific |
| Base Year | 2021 |
Market Trends
- Precision medicine will almost certainly continue to be focused on developing new therapies for cancer. When compared to the next greatest use of precision medicine, it is utilized 30% more often to treat oncological illnesses. precision medicine applications in oncology are more common in Europe and the US, where research is conducted. The expansion of the precision medicine industry in the treatment of oncological illnesses is projected to be accelerated thanks to government financing.
- Clinical practitioners will be able to select whether tests are essential and how to apply genetic data to the results using tools that aid decision-making in precision medicine. precision medicine will also help patients avoid denials and delays in receiving care. This will also have an impact on the types of tests requested in the following five years. Over the next five years, broad panel tests that look at an area of the gene will become more common, as compared to present tests that only look at a small number of genes.
- Doctors will be able to give drugs that are tailored to treat the patient with the fewest adverse effects based on characteristics like genetics, lifestyle, and medical history. When it comes to switching drugs and altering dosages, doctors must now draw assumptions. Pharmacogenomics, or the study of how genes respond to medicines, is becoming more popular as precision medicine becomes more popular. Thousands of people in the US are taking part in pharmacogenomic studies, which will ideally allow physicians to see how rapidly medicines are broken down in the body and how probable specific side effects are to occur.
Product Insights
The therapeutics segment accounted for the maximum revenue share of more than 58% in 2021 and is anticipated to continue its dominance throughout the forecast period. Among therapeutics vertical, primary cell-based therapies are the most developed therapeutics available due to their usage for different therapeutic indications and early adoption of these therapies in clinical application.
The stem cell &progenitor cell-based therapies segment is expected to register the fastest CAGR over the forecast years due to high investments in stem cell research coupled with redrafting in regulatory policies for their use in clinical applications. Allogenic stem cell-based therapies are estimated to account for the largest revenue share whereas autologous therapies are characterized with one of the fastest CAGRs.
Key vendors with specialized technology provide management, manufacturing, characterization, engineering, and quality control services along with other facilities for clinical trials and other research associated with the development of regenerative therapies. Hence, with a rise in R&D and clinical trials of regenerative medicines, the services segment is projected to witness rapid growth.
Immediate Delivery Available | Buy this Premium Research Report@ https://www.visionresearchreports.com/report/cart/37103
Therapeutic Category Insights
The application of regenerative therapies is maximum in the oncology segment, thus, it captured the largest revenue share of more than 33% revenue share in 2021. High cancer prevalence has resulted in the implementation of efficient cancer treatment options. Various government organizations, as well as private companies, have made high investments in cancer research and the development of regenerative & advanced cell therapies. Global efforts to reduce the cancer burden are also anticipated to drive the segment growth.
On the other hand, the presence of a strong product portfolio coupled with increasing incidences of musculoskeletal disorders is anticipated to boost the revenue of the musculoskeletal segment. The introduction of efficient regenerative solutions in form of stem cells and tissue engineering to restore the tissues and regain functional strength has led to the rapid development of the segment. Safe and potentially officious treatments are available in regenerative and cell-based therapies for the segment.
Furthermore, various novel approaches in developmental phases promote tissue engineering. This includes the use of biomaterials and drug delivery systems, which stimulate and control the immune system and influence cell replication. Increased complexity of the wound healing process with severe diseases, such as diabetes and HIV, has encouraged R&D approaches in the dermatology segment.
Regional Insight
North America dominated the global market in 2021 with a revenue share of more than 47%. This is attributed to the presence of a significant number of key players in the U.S. The availability of advanced technologies and the presence of research institutes that are involved in the development of novel therapeutics are attributive to the high number of clinical trials in this region.
Availability of funds as well as several initiatives by the government & private organizations contributes to the highest revenue flow from the U.S. For instance, the “2020: A New Vision” initiative of the U.S. Department of Health and Human Services recognizes regenerative medicine at the forefront of healthcare.
Asia Pacific is predicted to witness the fastest CAGR over the forecast period owing to the expansion of infrastructure and facilities to accelerate stem cell research in the emerging economies of the region. In Japan, the Ministry of Health, Labor and Welfare approved Regenerative Medicine law in April 2013, which propelled the clinical development of regenerative and cell-based therapies. Similarly, the Chinese government has approved several research activities related to human embryonic stem cells that have encouraged researchers to explore the clinical potential of these cells.
Key Players
- AstraZeneca plc
- F. Hoffmann-La Roche Ltd.
- Integra Lifesciences Corp.
- Astellas Pharma, Inc.
- Cook Biotech, Inc.
- Bayer AG
- Pfizer, Inc.
- Merck KGaA
- Abbott
- Vericel Corp.
- Novartis AG
- GlaxoSmithKline (GSK)
- Baxter International, Inc.
- Boehringer Ingelheim
- Amgen Inc.
- Cesca Therapeutics, Inc.
- U.S. Stem Cell, Inc.
- Bristol-Myers Squibb
- Eli Lilly and Company
- NuVasive, Inc.
- Organogenesis, Inc.
- MiMedx Group, Inc.
- Takara Bio, Inc.
- Osiris Therapeutics, Inc.
- Corline Biomedical AB
Market Segmentation
Product Type Outlook
- Therapeutics
- Primary Cell-bases Therapeutics
- Dermatology
- Musculoskeletal
- Surgical
- Dental
- Others
- Stem Cell & Progenitor Cell-based Therapeutics
- Allogeneic
- Autologous
- Others
- Cell-based Immunotherapies
- Gene Therapies
- Primary Cell-bases Therapeutics
- Tissue Engineering
- Platelet Rich Plasma
- Tools
- Banks
- Services
Therapeutic Category Outlook
- Dermatology
- Musculoskeletal
- Immunology & Inflammation
- Oncology
- Cardiovascular
- Ophthalmology
- Others
By Distribution Channel
- Hospital
- Clinics
- Others
BY MATERIAL
- Synthetic material
- Scaffold
- Artificial vascular graft material
- Hydrogel material
- Biologically derived material
- Collagen
- Xenogeneic material
- Genetically Engineered Material
- Genetically Manipulated Cell
- Three-Dimensional Polymer Technology
- Transgenics
- Fibroblast
- Neural Stem Cell
- Gene-Activated Matrices
- Pharmaceutical
- Biologic
Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Click Here to View Full Report Table of Contents
Immediate Delivery Available | Buy this Premium Research Report@ https://www.visionresearchreports.com/report/cart/37103
You can place an order or ask any questions, please feel free to contact at sales@visionresearchreports.com | +1 9197 992 333