According to a report by Grand View Research, Inc.; the global regenerative medicine market is projected to value USD 5.59 billion by 2025. High prevalence of orthopedic, neurodegenerative, and other aging-related disorders is anticipated to propel the market. Rise in geriatric population can further fuel market expansion over the forecast period (2014 to 2025).
Continual technological advancements in tissue engineering, gene therapy, and nanotechnology can stimulate expansion of the market for regenerative medicine. Increasing R&D investments by private and government organizations can also impel growth. Rapid developments in biotechnology provide in-depth knowledge regarding metabolism mechanism, cell division, and cell differentiation. Development of new streams of biotechnology like nanotechnology and gene therapy can augment use of cell-based technology in therapeutic procedures. This, in turn, can stimulate market expansion in the forthcoming years.
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UK regenerative medicine market revenue by product type, 2014 - 2025 (USD Million)
The worldwide regenerative medicine market is segregated on the basis of product, therapeutic category, and region. Based on product, the market is categorized into therapeutics and devices, stem cell and progenitor cell-based therapeutics, banks, tools, and services. In 2016, therapeutics held the largest market share owing to high implementation. Introduction of various gene and cell-based therapies is expected to contribute to the growth.
In addition, emergence of regulatory policies to promote research activities related to cell therapy can positively influence market expansion. Such supportive policies can encourage researchers to further explore induced Pluripotent Stem Cells (iPSC). Moreover, development of gene therapy techniques to restore and rectify effects of gene mutations in cells is underway. Mutations inducing degenerative characteristics along with to the conditions caused by Single Nucleotide Polymorphism (SNP) are targeted by these gene therapies.
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Global regenerative market revenue by therapeutic category, 2016 (%)
On the contrary, stringent regulations regarding the use of Human Embryonic Stem Cells (HESC) may restrict growth of the market for regenerative medicine. However, regulatory changes introduced by countries like United Kingdom, United States, China, and Japan attributed to identification of clinical applications are expected to augment market expansion in the forthcoming years.
Based on therapeutic category, the market can be classified into oncology, musculoskeletal, cardiovascular, ophthalmology, dermatology, immunology and inflammation, and others. Dermatology is projected to hold the largest market share during the forecast period. Availability of easy drafting methods to treat dermatology diseases and wounds can propel growth of segment. Skin is an organ that offers great cell replication characteristics. Different types of stem cells are found in different layers of skin. Availability of wide range of products like patches and grafts to treat minor injuries and chronic burns and wounds respectively, can stimulate segment growth during the forecast period.
Oncology is estimated to witness the most significant growth over the forecast period. Rising investment in research activities and availability of pipeline products can propel this expansion. High prevalence of cancer and increasing expenses for treatment can positively influence growth. However, challenges associated with clinical experiments are expected to hinder the expansion in near future.
Regional segmentation includes North America, Asia Pacific, Europe, Latin America, and Middle East and Africa. North America is anticipated to hold the largest market share attributed to presence of leading market players. In addition, continual technological advancements and investments in oncology and stem cells research can further augment regional growth.
Asia Pacific is projected to witness the fastest CAGR over the forecast period attributed to rising healthcare investments by growing economies. Technological advancements in stem cell research can further propel regional market for regenerative medicine. In addition, availability of flexible regulations regarding adoption of cell-based regenerative therapies can boost market expansion. Moreover, growing investments by private and government companies to boost development of novel technologies can stimulate market growth over the forecast period.
Some of the leading companies operating in the regenerative medicine market are Integra LifeSciences Corporation, Corline Biomedical AB, Bayer BV, F. Hoffmann-La Roche Ltd, and Vericel Corporation. Most companies are likely to invest in development of regenerative therapies to capture untapped opportunities in the field. They focus on developing novel therapies that can meet clinical requirements.
Grand View Research has segmented the global regenerative medicine market on the basis of product, therapeutic category, and region:
Regenerative Medicine Product Outlook (Revenue, USD Million, 2014 - 2025)
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Therapeutics & Devices
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Primary Cell-bases therapeutics
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Dermatology
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Musculoskeletal
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Surgical
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Dental
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Others
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Stem Cell & Progenitor Cell-based therapeutics
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Autologous
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Allogeneic
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Others
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Tools
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Banks
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Services
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Regenerative Medicine Therapeutic Category Outlook (Revenue, USD Million, 2014 - 2025)
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Dermatology
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Musculoskeletal
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Immunology & Inflammation
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Oncology
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Cardiovascular
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Ophthalmology
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Others
Regenerative Medicine Regional Outlook (Revenue, USD Million, 2014 - 2025)
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North America
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U.S.
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Canada
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Europe
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Germany
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UK
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Asia Pacific
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China
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Japan
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Latin America
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Brazil
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Middle East & Africa
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South Africa
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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