Regenerative Medicine Market accounted for US$ 7.5 billion in 2020 and is estimated to be US$ 31.44 billion by 2030 and is anticipated to register a CAGR of 15.4%. Regenerative medicine deals with the "process of replacing, engineering or regenerating human or animal cells, tissues or organs to revive or establish normal function". This field holds the promise of engineering damaged tissues and organs by stimulating the body's own repair mechanisms to functionally heal previously irreparable tissues or organs. Regenerative medicine also includes the likelihood of growing tissues and organs within the laboratory and implanting them when the body cannot heal itself. When the cell source for a regenerated organ springs from the patient's own tissue or cells, the challenge of transplant rejection via immunological mismatch is circumvented. This approach could alleviate the matter of the shortage of organs available for donation.
The report “Global Regenerative Medicines Market, By Therapy (Cell Therapy, Tissue Engineering, Immunotherapy, and Gene Therapy), By Product Type (Cell-Based Products (Allogeneic Products and Autologous Products) and Acellular Products), By Application (Orthopedic & Musculoskeletal Disorders, Dermatology, Cardiology, Dermatology, Diabetes, Central Nervous System Disorders, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030”
Key Highlights:
· In July 2021, Non-profit research organization Hope Biosciences Stem Cell Research Foundation (HBSCRF) has received FDA authorization for a randomized, double-blind, single center, Phase II clinical trial to assess the efficacy of multiple intravenous infusions of autologous adipose-derived mesenchymal stem cells in improving symptoms and quality of life in patients with mild-to-moderate multiple sclerosis (MS).
Analyst View:
Increasing awareness about the benefits of stem cell therapies is anticipated to boost the growth of the target market over the forecast period. Moreover, the growing number of cases for genetic and chronic diseases and regenerative medicine providing an alternative solution for convention methods is propelling the growth of the target market. However, stringent government regulation and high investment required for developing the medicine are major factors hampering the growth of the global regenerative medicines market.
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Key Market Insights from the report:
The Global Regenerative Medicine Market accounted for US$ 7.5 billion in 2020 and is estimated to be US$ 31.44 billion by 2030 and is anticipated to register a CAGR of 15.4%. The global regenerative medicines market is segmented based on therapy, product type, application, and region.
· By Therapy, the Global Regenerative Medicine Market is segmented into cell therapy, tissue engineering, immunotherapy, and gene therapy.
· By Product Type, the Global Regenerative Medicine Market is segmented into cell-based products and acellular products.
· By Application, the Global Regenerative Medicine Market is segmented into Orthopedic & Musculoskeletal Disorders, Dermatology, Cardiology, Dermatology, Diabetes, Central Nervous System Disorders, and Others
· By region, the Global Regenerative Medicine Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the global regenerative medicine market in terms of revenue contribution as related to that of markets in other regions. This is attributed to the increasing government funds for the development of regenerative medicines and the presence of dominant players in the market in this region.
Competitive Landscape:
The key players operating the global regenerative medicines market involves Organogenesis, Inc., Osiris Therapeutics, Inc., Pfizer Inc., Novartis AG, Vericel Corporation, NuVasive, Inc., Cook Biotech, Inc., GlaxoSmithKline plc., Boehringer Ingelheim GmbH, and Amgen, Inc.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
