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Cell Regeneration Medicine Market Growth Drivers, Opportunities, Share Report And Forecast To 2033
Cell Regeneration Medicine Market Growth
According to The Business Research Company's, The cell regeneration medicine market size has grown rapidly in recent years. It will grow from $36.08 billion in 2023 to $41.83 billion in 2024 at a compound annual growth rate (CAGR) of 15.9%. The growth in the historic period can be attributed to aging population, prevalence of chronic diseases, growing government and corporate funding, growing demand for functional regenerative medicine products.
The cell regeneration medicine market size is expected to see rapid growth in the next few years. It will grow to $71.86 billion in 2028 at a compound annual growth rate (CAGR) of 14.5%. The growth in the forecast period can be attributed to rising demand for regenerative medicine products from the horeca sector, shortage of organs for transplantation, increasing r&d activities, growing demand for gene therapies. Major trends in the forecast period include advanced therapies, clinical trial expansion, tissue engineering and 3d bioprinting, exosome-based therapies, personalized medicine.
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Market Drivers and Trends:
Widespread adoption of organ transplantation is expected to propel the cell regeneration medicine market going forward. Organ transplantation is a medical procedure in which an organ is removed from one body and placed in the body of a recipient to replace a damaged or missing organ. Organ transplantation has become more popular as it helps provide longer lives and helps avoid medical procedures such as dialysis. Cell regenerative medicine offers potential advancements in organ transplantation by focusing on repairing and regenerating damaged tissues or organs. For instance, in January 2023, according to the United Network for Organ Sharing, a US-headquartered scientific and educational organization, around 42,887 organ transplants were performed in the United States in 2022, an increase of 3.7% compared to 2021. Therefore, the widespread adoption of organ transplants will drive the cell regeneration medicine market.
Major companies operating in the cell regeneration medicine market are increasing their focus on developing innovative manufacturing techniques to gain a competitive edge in the market. Innovative manufacturing techniques refer to advanced and creative methods, processes, or technologies used in the production of goods and products. For instance, in June 2021, RegenMed Development Organization (ReMDO), a US-based non-profit foundation, and Wake Forest Institute for Regenerative Medicine (WFIRM) launched RegeneratOR Test Bed, a pioneer in regenerative medicine that aims to accelerate the translation of science into clinical practice by promoting the scale-up and automation of biomanufacturing.
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Major Key Players of the Market:
Pfizer Inc., Johnson & Johnson, F.Hoffman-La Roche Ltd., AbbVie Inc., Bayer AG, Novartis AG, Bristol-Myers Squibb Company, Medtronic PLC, Eli Lilly and Company, Boehringer Ingelheim International GmbH, Amgen Inc., ViaCord LLC, Stryker Corporation, Zimmer Biomet Holdings Inc., Cook Biotech Inc., Integra LifeSciences Holdings Corporation, NuVasive Inc., Organogenesis Holdings Inc., AMAG Pharmaceuticals Inc., Takara Bio Inc., MiMedx Group Inc., Vericel Corporation, Mesoblast Limited, Osiris Therapeutics Inc., Guanhao Biotech Co. Ltd., CordLife Group Limited, FUJIFILM Cellular Dynamics Inc., Cesca Therapeutics Inc., U.S. Stem Cell Inc., Cytori Therapeutics Inc.
Cell Regeneration Medicine Market 2024 Key Insights:
• Cell Regeneration Medicine is expected to grow to $71.86 billion in 2028 at a compound annual growth rate (CAGR) of 14.5%.
• Rising Organ Transplantation Rates Fuel Growth In The Cell Regeneration Medicine Market
• Companies Embrace Innovative Manufacturing Techniques To Gain A Competitive Advantage In Cell Regeneration Medicine
• North America was the largest region in the cell regeneration medicine market in 2023
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