Press release
Regenerative Medicine Market worth $40.6 billion by 2027 - Leading Key Players are Novartis AG (Switzerland), Biogen (US), Sarepta Therapeutics, Inc. (US), Gilead Sciences, Inc. (US), Amgen, Inc. (US), Smith & Nephew plc (UK)
Regenerative Medicine Market worth $40.6 billion by 2027
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Browse in-depth TOC on "Regenerative Medicine Market"
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Cell therapy segment accounted for the largest share of the regenerative medicine market
Based on the product, the regenerative medicine market is segmented into musculoskeletal disorders, oncology, dermatology & wound care, ophthalmology, cardiovascular diseases, and other applications. In 2021, the musculoskeletal disorders segment accounted for the largest share of the global regenerative medicine market. Growth in this market segment can be attributed to the rising research on musculoskeletal regeneration and prevalence of orthopedic disorders.
Musculoskeletal disorder is the largest-growing application segment of the regenerative medicine market
Based on application, the regenerative medicine market is segmented into academic & research institutes, contract research organizations (CROs), and pharmaceutical & biotechnology companies. In 2021, the academic & research institutes segment accounted for the largest share of the regenerative medicine market. Market growth can largely be attributed to the increase in research intensity in this end-user segment and the availability of sufficient grants and funds for research.
North America accounted for the largest share of the regenerative medicine market
North America held the largest share in the global market, followed by Europe. The large share of the North American regional segment can be attributed to the increase in research targeted toward developing cell-based therapies in the past decade and increasing research activities in regenerative medicine and growing awareness of personalized medicine have also resulted in the establishment of stem cell banking and tissue engineering.
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Regenerative Medicine Market Dynamics:
Drivers:
Rising prevalence of chronic diseases, genetic disorders, and cancer
Rising investments in regenerative medicine research
Growing pipeline of regenerative medicine products
Restraints:
Ethical concerns related to the use of embryonic stem cells in research & development
High cost of cell and gene therapies
Opportunities:
Implementation of the 21st Century Cures Act
Rising demand for organ transplantations
Key Market Players:
The regenerative medicine market is consolidated in nature with prominent players in the regenerative medicine market include Novartis AG (Switzerland), Biogen (US), Sarepta Therapeutics, Inc. (US), Gilead Sciences, Inc. (US), Amgen, Inc. (US), Smith & Nephew plc (UK), Medipost Co., Ltd. (South Korea), JCR Pharmaceuticals Co., Ltd (Japan), Takeda Pharmaceutical Company (Japan), CORESTEM, Inc (South Korea), Vericel Corporation (US), MIMEDX (US), Organogenesis Inc. (US), Medtronic plc (US), Orthocell Ltd. (Australia), Mesoblast Ltd (Australia), BioRestorative Therapies, Inc (US), Pluri Inc. (Israel), Tegoscience (South Korea), Anterogen Co., Ltd. (South Korea), bluebird bio, Inc. (US), APAC Biotech (India), Shenzhen SiBiono Genetech Co., Ltd. (China), Aspect Biosystems (Canada), and Athersys, Inc. (US).
Recent Developments:
In 2022, Novartis announces collaboration with Alnylam to explore targeted therapy to restore liver function.
In 2020, AbbVie acquired Allergan to enhance its product portfolio in immunology, hematologic oncology, neuroscience, and Allergan aesthetics.
In 2022, MiMedx announced the launch of Axiofill, an Extracellular Matrix (ECM) Particulate product derived from human placental tissue. Axiofill is a human placental-derived particulate product available for surgical recovery procedures.
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