Press release
Regenerative Medicine Market Size and Share - Future Growth Expectations
The global regenerative medicine markets comprise of many key market players competing for markets shares like Novartis AG (Switzerland), Biogen, Inc. (US), Sarepta Therapeutics, Inc. (US)
Regenerative Medicine Market [https://www.marketsandmarkets.com/Market-Reports/regenerative-medicine-market-65442579.html] in terms of revenue was estimated to be worth $16.0 billion in 2023 and is poised to reach $49.0 billion by 2028, growing at a CAGR of 25.1% from 2023 to 2028 according to a new report by MarketsandMarkets Trademark . The important factors impacting market growth are the increasing focus on personalized medicine, and the emerging applications in new therapeutic areas. Increasing collaborations and partnerships by major market players and increasing regulatory approvals in regenerative medicine are expected to provide lucrative growth of the market in the near future.
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Cell therapy segment accounted for the largest share of the regenerative medicine market
Based on product, the regenerative medicine market is segmented into gene therapy, cell therapy (stem cell therapy [cell transplantations, stem cell therapy products {Autologous stem cell therapy, allogenic stem cell therapy] cell-based immunotherapy products), and tissue engineering products. The cell therapy segment accounted for the largest share of the regenerative medicine market in 2022. The high adoption of stem cell therapy is a key contributor to the growth of this segment. The growing applications of hematopoietic stem cell transplantations (HSCT) are expected to drive the growth of the cell therapy market.
Musculoskeletal disorder wins the largest share of therapeutic areas
Based on therapeutic area, the regenerative medicine market is classified into oncology, neurology, musculoskeletal disorders, ophthalmology, cardiovascular diseases, dermatology & wound care and other applications. In 2022, the musculoskeletal disorders segment accounted for the largest share of the global regenerative medicine market. Rise in the orthopedic disorders prevalence along with increasing musculoskeletal regeneration research can be attributed to the rising growth rate of this segment.
During the forecast period, North America exhibited the most rapid growth.
The largest share of the global regenerative medicine market was of North America, closely followed by Europe and then the Asia Pacific. This can be accredited to the growth of stem cell research, healthcare sector expansion, and the increase in the adoption of stem cell therapy and cell immunotherapies for cancer and other chronic diseases treatment.
Regenerative Medicine Market Dynamics:
Drivers:
1. Focus on Personalized Medicine
Restraint:
1. Ethical and Legal concerns and high cost of regenerative medicines
Opportunities:
1. Harnessing the Potential of 3D Printing
Challenge:
1. Lack of favorable reimbursement policies across various regions
Key Market Players of Regenerative Medicine Industry:
The global regenerative medicine markets comprise of many key market players competing for markets shares like Novartis AG (Switzerland), Biogen, Inc. (US), Sarepta Therapeutics, Inc. (US), Gilead Sciences, Inc. (US), Amgen Inc. (US), Smith+Nephew (UK), MEDIPOST Co., Ltd. (Korea), JCR Pharmaceuticals Co., Ltd. (Japan), Takeda Pharmaceutical Company Limited (Japan) and CORESTEM, Inc (South Korea).
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