The Global Regenerative Medicine Market in terms of revenue was estimated to be worth $12.2 Billion in 2022 and is poised to grow at a CAGR of 27.2% from 2022 to 2027. Market growth is driven by the availability of funding and rising investments in R&D, increasing clinical trials for stem cell and CAR-T cell therapies, and rising advancements in tissue-engineered products. However, the high treatment cost of RM therapies and issues associated with commercialization and regulatory compliance factors are expected to restrain the market growth during the forecast period.
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Prominent players in the global market include Novartis AG (Switzerland), Biogen (US), Sarepta Therapeutics, Inc. (US), Gilead Sciences, Inc. (US), Amgen, Inc. (US), Smith & Nephew plc (UK), MEDIPOST Co., Ltd. (South Korea), JCR Pharmaceuticals Co., Ltd (Japan), Takeda Pharmaceutical Company (Japan), CORESTEM Inc (South Korea), Vericel Corporation (US), MiMedx (US), Organogenesis Inc. (US), Medtronic plc (US), Orthocell Ltd. (Australia), Mesoblast Ltd (Australia), BioRestorative Therapies, Inc (US), Pluri Inc. (Israel), Tegoscience (South Korea), Anterogen Co., Ltd. (South Korea), bluebird bio, Inc. (US), APAC Biotech (India), Shenzhen SiBiono Genetech Co., Ltd. (China), Aspect Biosystems (Canada), and Athersys, Inc. (US).
Cell therapy products segment accounted for the largest share of the regenerative medicine market, by product”
Based on products, the global market is segmented into cell therapies, gene therapies, and tissue engineering products. The cell therapies products segment accounted for the largest share in the global market. The increasing GMP certification approvals for cell therapy production facilities is the major factor driving the growth of this segment.
Musculoskeletal disorders segment accounted for largest share in the market, by application”
Based on applications, the global market is segmented into musculoskeletal disorders, oncology, dermatology & wound care, ophthalmology, cardiovascular diseases, and other applications. The musculoskeletal disorders segment accounted for the largest market share. This can be attributed to the rising research on musculoskeletal regeneration and prevalence of orthopedic disorders.
“North America is the largest regional market for regenerative medicine industry”
The global regenerative medicine market is segmented into four major regions, namely, North America, Europe, Asia Pacific, Latin America and the Middle East and Africa. In 2022, North America accounted for the largest share in the regenerative medicine market. The growth in the North American regenerative medicine market can be attributed to rising stem cell banking, tissue engineering, and drug discovery in the region; expansion of the healthcare sector; and the high adoption of stem cell therapy and cell immunotherapies for the treatment of cancer and chronic diseases.
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Recent Developments
- In 2022, Novartis announces collaboration with Alnylam to explore targeted therapy to restore liver function.
- In 2020, AbbVie acquired Allergan to enhance its product portfolio in immunology, hematologic oncology, neuroscience, and Allergan aesthetics.
- In 2022, MiMedx announced the launch of Axiofill, an Extracellular Matrix (ECM) Particulate product derived from human placental tissue. Axiofill is a human placental-derived particulate product available for surgical recovery procedures.
