According to the latest report by IMARC Group, titled “Regenerative Medicine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global regenerative medicine market reached a value of US$ 11.94 Billion in 2020. Regenerative medicine is a branch of biomedical sciences that seeks to restore the functioning of organs or tissues damaged by trauma, congenital issues and diseases. It utilizes laboratory-developed stem cells that are implanted into the body for the regeneration of normal cells. This replacement stimulates the repair mechanism of the body to heal organs, bones, and blood vessels. Cellular and acellular regenerative medicines are applied in various therapies, such as cell, gene, immunomodulation, production of artificial organs, and tissue engineering. These medicines are an effective treatment for several chronic ailments, such as spinal cord injuries, osteoporosis, Parkinson’s, and Alzheimer’s disease. Regenerative medicine plays an important role in organ transplants and is widely applied across the fields of cardiology, oncology, and dermatology.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Global Regenerative Medicine Market Trends:
The increasing prevalence of genetic disorders and chronic diseases is one of the key factors driving the market growth. Stem cells are widely utilized for the treatment of various conditions as they possess regenerative properties. Additionally, the rising geriatric population that is susceptible to developing chronic disorders is acting as another major growth-inducing factor. In line with this, the increasing number of organ transplant procedures is creating a positive outlook for the market as regenerative medicines help reduce the risk of organ rejection. Moreover, extensive research and development (R&D) activities and various technological advancements, such as the adoption of artificial intelligence (AI) and 3D bioprinting techniques in cell-based therapies, are propelling the market growth. Other growth-inducing factors include an increasing number of clinical trials, along with rising government investments in the field of medical research. Looking forward, IMARC Group expects the global regenerative medicine market to growing at a CAGR of 22.70% during 2021-2026.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Allergan PLC (AbbVie Inc.)
- Amgen Inc.
- Baxter International Inc.
- BD (Becton, Dickinson and Company)
- Integra Lifesciences Holdings Corporation
- Medtronic plc
- Mimedx Group Inc.
- Novartis AG
- Osiris Therapeutics Inc. (Smith & Nephew plc)
- Thermo Fisher Scientific Inc
Regenerative Medicine Market Segmentation:
Our report has categorized the market based on region, type, application and end user.
Breakup by Type:
- Stem Cell Therapy
- Tissue Engineering
Breakup by Application:
- Bone Graft Substitutes
- Osteoarticular Diseases
- Central Nervous System
Breakup by End User:
- Specialty Clinics
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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