(MENAFN- GlobeNewsWire - Nasdaq) Chicago, Feb. 13, 2024 (GLOBE NEWSWIRE) -- Regenerative medicine market in terms of revenue was estimated to be worth $16.0 billion in 2023 and is poised to reach $49.0 billion by 2028, growing at a CAGR of 25.1% from 2023 to 2028 according to a latest report published by MarketsandMarketsTM. The growth of the regenerative medicine market is characterized by the increasing collaborations and partnerships by major market players, and the emerging applications in new therapeutic areas. Rising focus on personalized medicine and increasing regulatory approvals in regenerative medicine are also predicted to drive the market. Download an Illustrative overview:
Regenerative Medicine Market Scope:
| Report Coverage | Details |
| Market Revenue in 2023 | $16.0 billion |
| Estimated Value by 2028 | $49.0 billion |
| Growth Rate | Poised to grow at a CAGR of 25.1% |
| Market Size Available for | 2021-2028 |
| Forecast Period | 2023-2028 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product, By Therapeutic area |
| Geographies Covered | North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunity | Harnessing the Potential of 3D Printing |
| Key Market Driver | Focus on Personalized Medicine |
Based on product, the global regenerative medicine market is segmented into gene therapy, cell therapy (stem cell therapy [cell transplantations, stem cell therapy products {autologous therapy, allogenic therapy] cell-based immunotherapy products), and tissue engineering products. The cell therapy segment accounted for the largest share of the market in 2022. The rising acceptance of stem cell therapy is predicted to drive the market.
Based on therapeutic area, the global regenerative medicine market is segmented into oncology, musculoskeletal disorders, dermatology & wound care, cardiovascular diseases, ophthalmology, neurology, and other applications. In 2022, the musculoskeletal disorders segment accounted for the largest market share. This can be attributed to the increasing prevalence of orthopedic diseases, rich pipeline of stem cell products for treating musculoskeletal disorders, and the rising number of stem cell research projects.
Based on region, the market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. In 2022, North America held the dominant share of the regenerative medicine market, followed by Europe. Increased research-driven activities and demand for biologics in North America is expected to provide lucrative market growth in the near future. Rise in demand for advanced technology-based treatments like stem cell technology, biologics, tissue engineering, and biomaterials is also expected to drive market growth.
The APAC region is the fastest expanding market for regenerative medicine, driven by many factors like increasing per capita income, large burden of chronic diseases, and the increasing popularity for novel technologies are expected to support market growth are expected to uplift the market.
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Regenerative Medicine market major players covered in the report, such as:
Novartis AG (Switzerland) Biogen, Inc. (US) Sarepta Therapeutics, Inc. (US) Gilead Sciences, Inc. (US) Amgen Inc. (US) Smith+Nephew (UK) MEDIPOST Co., Ltd. (Korea) JCR Pharmaceuticals Co., Ltd. (Japan) Takeda Pharmaceutical Company Limited (Japan) CORESTEM, Inc (South Korea) Vericel Corporation (US) MIMEDX Group, Inc. (US) Organogenesis Inc. (US) Medtronic (Ireland) Bristol-Myers Squibb Company (US) Orthocell Ltd. (Australia) Mesoblast Ltd. (Australia) BioRestorative Therapies, Inc. (US) Pluristem Therapeutics Inc. (US) TEGOSCIENCE (South Korea) ANTEROGEN., LTD. (South Korea) Bluebird bio, Inc. (US) Stempeutics Research Pvt Ltd. (India) Sibiono GeneTech Co. Ltd. (China) Aspect Biosystems Ltd. (Canada) Athersys, Inc. (US) and Among Others
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This report categorizes the regenerative medicine market into the following segments and subsegments:
By Product
Cell therapy Stem cell therapy Cell transplantations Stem cell therapy products Autologous therapy Allogenic therapy
Cell-based immunotherapy products
Gene therapy Tissue engineering
By Therapeutic Area
Oncology Musculoskeletal disorders Dermatology & wound care Cardiovascular diseases Opthalmology Neurology Other applications
By Region
North America Europe Germany France UK Italy Spain Rest of Europe
Asia Pacific Japan China India South Korea Australia Rest of Asia Pacific
Latin America Brazil Rest of Latin America
Middle East Africa
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Key Market Stakeholders:
Regenerative medicine product manufacturing companies Healthcare service providers (including hospitals & specialty clinics) National and regional research boards and organizations Research & development organizations Clinical research organizations (CROs) Research laboratories & academic institutes Market research & consulting firms
Report Objectives:
To define, describe, and forecast the regenerative medicine market by product, therapeutic area, and region To provide detailed information regarding the major factors influencing the market growth (such as drivers, restraints, opportunities, and challenges) To analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the overall regenerative medicine market To provide detailed information about global product revenues. To analyze the opportunities for stakeholders and provide details of the competitive landscape for market leaders To forecast the size of the market segments with respect to five regions: North America (U.S., Canada), Europe (Germany, UK, France, Italy, Spain, Rest of Europe), the Asia Pacific (China, Japan, India, Australia, South Korea, Rest of Asia Pacific), Latin America (Brazil, Rest of Latin America), the Middle East and Africa To profile the key players and analyze their market shares and core competencies To track and analyze competitive developments, such as product launches, pipeline products (Phase 3 Regenerative medicines clinical trials molecules), partnerships, agreements, collaborations, expansions, and strategic alliances To benchmark players within the market using the proprietary“Company Evaluation Matrix” framework, which analyzes market players on various parameters within the broad categories of business and product excellence strategy.
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