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Regenerative Medicine Market to Reach USD 12.9 Bn by 2028 | TMR Study

Friday, 14 April 2023 07:33 AM

WILMINGTON, DE / ACCESSWIRE / April 14, 2023 / Transparency Market Research Inc. - The global regenerative medicine market is forecast to register a CAGR of 10.3% from 2021 to 2028, with an expected valuation of over USD 12.9 Bn.

This branch of medicine encompasses areas such as stem cell therapy, natural killer therapy, CAR-T cell therapy, and exosomes. With advancements in biological therapies, a preference for personalized medicinal strategies is rising, paving way for enhanced usage of regenerative medicines.

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Market Snapshot:

Report CoverageDetails
Market RevenueUS$ 6.0 Bn in 2020
Estimated ValueUS$ 12.9 Bn 2028
Growth Rate10.3%
Forecast Period2021-2028
No. of Pages85 Pages
Market SegmentationBy Technology and Application
Regions CoveredNorth America, Europe, Asia Pacific, Middle East & Africa, South America
Companies CoveredSmith & Nephew plc, Anika Therapeutics, Inc., DePuy Synthes, Inc., Baxter International, Inc., Stryker Corporation, Medtronic, Inc., Arthrex, Inc., Zimmer Holdings, Inc., and CONMED Corporation

Regenerative therapies in clinical trials are providing promising solutions for specific chronic indications with unmet medical needs. For instance, in December 2021, Novartis announced the introduction of T-Charge™, a next-generation CAR-T platform that would be a beneficial tool for novel investigational CAR-T cell therapies. Significant advancements in molecular medicines have resulted in the development of gene-based therapy, which uses targeted delivery of DNA as a medicine to fight against various disorders.

Gene therapy is one area that is providing extensive utility to regenerative medicines. It has tremendous potential in the treatment of cancer, as well as type-1 and type-2 diabetes through the restoration of gene function. The increasing demand for regenerative therapies and personalized medicine is largely due to several factors. Firstly, advances in research have led to the development of innovative treatments which can be tailored to an individual's specific condition or needs.

The ability to tailor a treatment plan to each patient has resulted in more effective outcomes with fewer side effects. Secondly, as healthcare costs continue to rise and technology becomes increasingly sophisticated, more people are looking for cost-effective solutions that will provide better health outcomes than traditional approaches.

Finally, there is growing awareness amongst patients about the potential benefits of these therapies, encouraging them to seek out options that may not have been available. In addition, there is greater access to information and education on the subject matter, allowing individuals to make informed decisions regarding their own medical care.

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Key Takeaways from the Market Report

  • The global regenerative medicine market is likely to reach a valuation of nearly US$ 8 billion by 2023-end
  • From 2021 to 2028, the market for regenerative medicine is slated to grow nearly 2x
  • By technology, stem cell-based regenerative medicine to experience maximum uptake
  • By application, regenerative medicines are likely to be used extensively as bone graft substitutes

Regenerative Medicine Market: Key Trends and Growth Drivers

  • Opportunities are emerging with respect to mesenchymal stem cells. As they are multipotent in nature, these stem cells are capable of renewing themselves and differentiation in vitro into different kinds of tissues.
  • Regenerative medicine is gaining popularity, thanks to an increased prevalence rate of chronic ailments such as diabetes and obesity. Moreover, its application is also rising in addressing leukemia, multiple myeloma, and other types of cancers
  • The market for regenerative medicine is witnessing increased collaborations between private healthcare companies and government entities. These partnerships are aimed at accelerating research & development of the potential outreach of these medicines for numerous health conditions

Regenerative Medicines Market: Regional Landscape

  • North America is slated to emerge as a potential investment hotspot for regenerative medicines, capturing over 50% of revenue in 2023
  • Asia Pacific is expected to trail behind, experiencing noteworthy uptake in countries such as India and China. As companies look to Asian healthcare institutes for R&D, the scope for regenerative medicines is expected to rise substantially.

Competitive Landscape

Key regenerative medicine manufacturers profiled in TMR's report include the following players:

  • Smith & Nephew Plc.
  • Anika Therapeutics Inc.
  • DePuy Synthes
  • Baxter International Inc.
  • Stryker Corporation
  • Medtronic Plc.
  • Arthrex
  • Zimmer Biomet
  • CONMED Corporation

Notable expansion strategies include seeking regulatory approvals, introducing new medicine candidates, acquisition of existing players, and important collaborations. Some major developments in this industry are as follows:

  • Anika Therapeutics Inc. announced in April 2023 the receipt of an additional 510(k) clearance from the U.S. Food & Drug Administration. The clearance was granted for its Tacoset Injectable Bone Substitute, which contains an autologous bone marrow aspirate. This aspirate comprises of components that have a positive impact on tissue regeneration and musculoskeletal injuries
  • Stryker Corporation offers the GraftJacket Now Ultra-Thick regenerative tissue matrix. The matrix is pre-hydrated and ready to use, helping reinforce, support and protect soft tissue. The matrix is available in three different sizes- 4x4 cm, 4x8 cm, and 5x7 cm. Their thickness varies from 3 mm to 4 mm

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Regenerative Medicine Market- Key Segments

By Technology

  • Stem Cell
  • Biomaterial
  • Tissue Engineering

By Application

  • Bone Graft Substitutes
  • Osteoarticular Diseases
  • Allogenic Diseases
  • Autogenic Bones
  • Others

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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SOURCE: Transparency Market Research Inc.

Topic:
Company Update
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