Regenerative medicine is a process to restore human cells, tissues, and organs. It is referred to as a group of biomedical approaches to clinical therapies involving stem cells. Furthermore, regenerative medicine includes therapy such as, cell therapy, which is the injection of stem cells or progenitor cells, and tissue engineering, which is the transplantation of laboratory-grown organs and tissues.
According to Ken Research estimates, the Global Regenerative Medicine Market – which grew from approximately US$ 15 billion in 2017 to approximately US$ 30 billion in 2022 – is forecasted to grow further into approximately US$ 70 billion opportunities by 2028, owing to the growing severe diseases, infections, and cancers. Rising clinical trials and research & development spending on new advanced healthcare processes and facilities by players and governments are also driving the growth of the market.
- Regenerative medicine market is driven by surging trauma cases, genetic disorders, chronic diseases, and other infectious viruses. According to World Health Organization, a specialized international public health organization, stated that nearly 10 million deaths in 2020 are caused by cancer worldwide, the most common cases of cancer were lung, prostate, skin, stomach, colon, and rectum. Cancer immunotherapy activates, replaces, and regenerates the immune system in order to fight cancer. Cancer immunotherapy is a form of regenerative medicine. The rising number of cancer patients worldwide is driving the growth of the regenerative medicine market.
- Patients suffering from wound injuries, serious disorders, and others require cell and gene therapies, representing advanced technology. The high cost of cell and gene therapies is hampering the growth of the market. In 2017, the Food and Drug Administration (FDA), a federal agency of the department of health and human services, approved Luxturna to treat a rare form of inherited blindness that affects 100 to 2000 people in the USA. This treatment cost US$ 425,000 per eye.
- COVID-19 has accelerated the growth of the regenerative medicine market. In May 2020, the Global Institute of Stem Cell Therapy and Research (GIOSTAR), received FDA approval for COVID-19 clinical trials with stem cells to treat the COVID-19 patients. In May 2020, According to United Arab Emirates Ministry of Foreign Affairs & International Corporation, stated that a patent has been granted by the Ministry of Economics for the development of an innovative and promising treatment for Covid19 infection using stem cells.
Key Trends by Market Segment:
By Product Type: The cell therapy segment held the largest market share of the global Regenerative Medicine market in 2021, owing to the growing availability of regenerative medicine, and advancement in technologies.
- Cell therapy is the transplantation of human cells to replace or restore damaged tissues and cells. Cell therapy is used for curing cancer, restoring spinal cord injuries, autoimmune systems, neurological disorders, and others.
- In September 2022, the Centre for Breakthrough Medicines (CBM) and jCyte announced a multi-year manufacturing agreement. CBM will be manufacturing jCyte’s U.S. Food & Drug Administration’s (FDA) approved regenerative medicine Advance Therapy (RMAT) designated cell therapy, called jCell.
By Material: The biomaterial segment accounted for the largest market share in 2021, owing to the surging infectious viruses and diseases.
- Biomaterials are key components in tissue engineering and regenerative medicine application. It is used to reduce the burden of disease.
- Biomaterial has ample applications including medical implants, healing human tissues, restoring human cells, molecular probes, biosensor, and others.
By Application: The oncology segment held the largest market in 2021, owing to the rising incidence of cancer worldwide.
- Oncology cures cancer using medication such as chemotherapy, immunotherapy, and targeted therapy.
- In September 2022, Celltrion USA, a biopharmaceutical company, receives U.S. FDA approval for its oncology biosimilar Vegzelma for the treatment of six types of cancer.
By Geography: North America accounted for the largest market share within the global regenerative medicine market in 2021, owing to technological advancement in the healthcare sector, and rising cases of illness and diseases.
- US Department of Health and Human Services, mentioned regenerative medicines are the next evolution of medical treatments. With its potential to heal, this new field of science is expected to revolutionize healthcare. Therefore, the increasing popularity and demand are expected to fuel the regenerative medicine market.
- In March 2021, Amgen Inc., a USA-based company, announced in an agreement to acquire Rodeo Therapeutics Corporation, a privately held biopharmaceutical company based in Seattle that develops small-molecule therapies designed to promote regeneration and repair of multiple tissues.
Competitive Landscape:
The global Regenerative Medicine market is highly competitive with ~200 players which include globally diversified players, and regional players as well as a significant number of country-niche players having their niche in regenerative medicine testing and surgeries for severe diseases, infections, and wounds.
Regional players held the largest market share by type. While large global players control about 20% of the market share by type. Some of the major players in the market include Integra Lifesciences, Amgen, AstraZeneca, Tissue Regenix, Takeda Pharmaceutical Company Limited, Bayer AG, Novartis AG, Smith+Nephew, Vericel, GSK plc. And others.
Recent Developments Related to Major Players
- In October 2022, Astellas Pharma Inc. and Pantherna Therapeutics GmbH entered into a new technology evaluation agreement for research to generate mRNA-based regenerative medicine programs using reprogramming.
- In January 2021, Integra LifeSciences Holding Corporation acquired ACell Inc., to strengthen comprehensive wound care management solutions.
Conclusion
The global Regenerative Medicine market witnessed significant growth during the period 2017-2021, owing to the rising number of cancer patients worldwide, and continuous upgradation in the technology. The growth rate is expected to remain significant during the forecast period.
Though the market is significantly competitive with ~200 participants, the majority of regional players dominate the market share by type, and global players also hold a significant share.
Note: This is an upcoming/planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients, and the report delivered within a maximum of 2 working weeks.
Ken Research recently published a report title Global Regenerative Medicine Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 that is segmented by product type, material, and application. In addition, the report also covers market size and forecasts for the four regions in the Regenerative Medicine markets. The revenue used to size and forecast the market for each segment is US$ billion.
Market Taxonomy
By Product Type
Cell Therapy
Gene Therapy
Tissue Engineering
Stem Cells
By Material
Synthetic Material
Biomaterial
Genetically Engineered Material
Others
By Application
Dermatology
Musculoskeletal
Wound Healing
Oncology
Cardiovascular
Ophthalmology
Other
By Geography
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Spain
Italy
Rest of Europe)
Asia Pacific
China
Japan
South Korea
India
Australia
Rest of Asia Pacific
LAMEA
Latin America
Middle East
Africa
Key Players
Integra Lifesciences
Amgen
AstraZeneca
Tissue Regenix
Takeda Pharmaceutical Company Limited
Bayer AG
Novartis AG
Smith+Nephew
Vericel
GSK plc