Product Code: RP-ID-10085009 |
Published Date: 21 Oct 2022 |
Region: NA |
Category: Healthcare & Pharmaceuticals |
Report ID: 10085009
Market Overview:
Global Regenerative Medicine Market Size and Forecast to 2030
In 2021, the global regenerative medicine market is estimated to be ~USD 4 million, and the compound annual growth rate is expected to be ~13% throughout the forecast period 2022-2030. A strong clinical trial product portfolio and the presence of government and private funds to support research are expected to drive growth. A strong product portfolio indicates that the product has great potential in the future. Companies are investing heavily in research and development to update their products with the latest technology and meet the unmet needs of consumers.
Due to the high prevalence of diabetes and neurological diseases, cancer and cardiovascular diseases, major participants are researching and developing products under development. Various programs and continuous investment in support of research and development by the government and private institutions have also accelerated the progress of the industry. For example, the National Institutes of Health (NIH) provides support to scientific research groups through the NIH Regenerative Medicine Program, the NIH Stem Cell Library and Project, and the NIH Stem Cell Unit. The drug is expected to support the growth of the regenerative medicine market. In addition, the companies are collaborating to strengthen their R&D capabilities to develop and commercialize innovative therapies to ensure that they are available to customers locally or globally.
For example, in March 2018, the SanBio Group and Hitachi Chemical Advanced Therapeutics Solutions, LLC reached an agreement on the development and contract manufacturing of regenerative drugs. In September 2018, Key Biologics LLC announced an agreement with the American Blood Center to support the research and development of cell therapy products. Technological advancements based on stem cell therapy have completely changed researchers; views on medical regeneration. The advancement of stem cell therapy has accelerated the advancement of regenerative medicine. For example, hematopoietic stem cells are currently used to treat leukemia and blood diseases.
PRODUCT INSIGHT: The treatment sector had the highest revenue share in 2018 and is expected to continue to dominate throughout the forecast period. In the field of vertical treatment, mainly cell-based therapies are the most developed therapies because they are used for different indications and adopted earlier in clinical applications. The stem cell and progenitor cell therapy segment is expected to record a faster compound annual growth rate during the forecast period due to large investments in stem cell research and the rephrasing of regulatory policies for clinical applications. Allogeneic stem cell therapy is expected to account for the largest share of revenue, and autologous therapy is expected to witness the fastest compound annual growth rate during the forecast period. Major suppliers with expertise provide management services, manufacturing, characterization, engineering, and quality control. Other clinical trials and other research facilities related to the development of regenerative therapy. Therefore, with the increase in regenerative drug R&D and clinical trials, the service sector is expected to achieve rapid growth.
TREATMENT CATEOGRY OUTLOOK: In terms of revenue generation in 2018, dermatology is leading the treatment category. Factors contributing to this higher proportion include the availability of simple transplantation methods for skin diseases and wounds. For decades, a large number of wound healing products approved by the Food and Drug Administration (FDA) have been used in clinical applications. In addition, several new methods in the development phase promote tissue engineering. This includes the use of biological materials and drug delivery systems, which can stimulate and control the immune system and affect cell replication. As the wound healing process of serious diseases such as diabetes and AIDS has become increasingly complex, research and development activities in this area have been encouraged. The oncology segment is expected to witness the fastest compound annual growth rate during the forecast period. The high prevalence of cancer has led to the implementation of effective cancer treatment programs. Some government organizations and private companies have invested heavily in cancer research and the development of advanced regenerative cell therapies. It is expected that global efforts to reduce the burden of cancer will support profitable growth in the field of oncology.
REGIONAL INFROMATION: North America maintained its leading market share in terms of revenue in 2018. The reason is that a large number of major players are located in the United States, in addition to the availability of advanced technologies and the existence of research institutions participating in the development. Due to the large number of clinical trials in the region, The number of new treatments is attributable. The availability of funding and increasing initiatives by governments and private organizations can help increase revenue sources in the United States. For example, the Department of Health and Human Services� �2020: New Vision� initiative recognizes that regenerative medicine is at the forefront of healthcare. Due to the expansion of infrastructure and facilities to accelerate stem cell research in emerging regional economies, the Asia-Pacific region is expected to experience exponential growth during the forecast period. In Japan, the Ministry of Health, Labour and Welfare passed the Regenerative Medicine Law in April 2013, which promoted the clinical development of cell-based and regenerative therapies. Similarly, the Chinese government has approved many studies related to human embryonic stem cells, encouraging researchers to explore the clinical potential of these cells in China. In addition, people�s increasing medical needs, lifestyle changes and population aging are other factors that have a positive impact on regional growth.
MAJOR COMPANIES AND MARKET SHARE INSIGHTS: Major suppliers leading the market include Integra LifeSciences Corporation; MiMedx Group of Companies; AstraZeneca; F. Hoffmann-La Roche Ltd; Merck & Co.; Pfizer; and Baxter. This is because these companies have invested heavily in the development of regenerative therapies to meet unmet clinical needs. As the company focuses on introducing treatments for oncology and age-related degenerative diseases, the market is highly competitive. In addition, cooperative efforts and strategic agreements for product development and technology sharing are expected to expand the market.
MARKET SEGMENT COVERED BY THE REPORT : This report forecasts global, regional, and national revenue growth, and analyzes the latest industry trends in each sub-segment from 2022-2030. For this study, Kenneth Research has reported on product types, treatment categories and regions based on the segmented drug market: Product type outlook (revenue, millions of dollars, 2022-2030): primary cell-based treatment of skin diseases and musculoskeletal surgery Dental other. Stem cell and progenitor cell-based therapies allogeneic autologous other cells immunotherapy gene therapy tools banking services perspective of treatment category (revenue, millions of dollars, 2022-2030): Dermatology Musculoskeletal Immunology and Inflammation Oncology Cardiovascular Ophthalmology.
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