The global regenerative medicine market size is expected to reach USD 5.59 billion by 2025, according to a new report by Grand View Research, Inc. Increased prevalence of neurodegenerative, orthopedic, and other aging-related disorders in geriatric population coupled with rising global geriatric population is anticipated to drive market growth.
Developments in biotechnology have enabled gaining in-depth knowledge pertaining to cell division and differentiation as well as the metabolism mechanism of various cells. This enriched knowledge, coupled with emergence of novel streams of biotechnology such as gene therapy and nanotechnology, further prospered use of cell-based technology in therapeutic treatment.
Well established regenerative approached for various dermatological indications exists since ages. Technological advances introduced scaffolds, matrices, and grafts engineered for faster regeneration and minimal surgical procedure.
Identification of ability of stem cells to develop into various different cell lines further propelled the advancements in regenerative medicine. Frequent media exposure due to regulatory as well as ethical controversies around embryonic stem cells has increased awareness among the masses. This encouraged researchers to explore and develop other potential fields for similar applications, such as induced pluripotent stem cells (iPSC).
Furthermore, the emergence of gene therapy techniques with potential to rectify and restore effects of gene mutations in cells is under development. Conditions caused due to Single Nucleotide Polymorphism (SNP) as well as mutations that induce degenerative characteristics are primarily targeted.
Biologics, individually or in combination with cells or devices, are explored to support regenerate the biological functions of cells, tissues, or organs. A number of combinatorial therapies to support chemotherapy and other cancer treatments by prevention as well as treatment for cancer relapse are in development phases.
In addition, rising prevalence of complicated degenerative disorders such as age-related macular degeneration, Alzheimer’s disease, and Parkinson’s disease, especially in the aging population resulted in high investments in R&D to develop therapeutic solutions.
Regenerative medicine grabs the attention of the healthcare industry owing to its promising applications along with significant advances in supportive fields including tissue engineering, stem cells, gene therapy, drug discovery and nanotechnology. For instance, 3D printing over scaffold with stem cells to restore structure as well as functional characteristics of biological cells, tissues, and organs.
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Further key findings from the report suggest:
The global regenerative medicine demand exceeded USD 1.7 billion in 2016 and is expected to grow at a considerable rate over the forecast period owing to the presence of a strong looking product pipeline with anticipated commercializations just around the corner
Therapeutics emerged as the largest product segment in 2016 as it has a relatively high implementation and usage rate resulting in higher adoption
Global regenerative services demand for facilities such as tissue banks and cellular engineering tools is expected to drive demand in the segment
The industry in Asia Pacific is projected to witness substantial growth over the next decade owing to various developments across major economies with increased focus of dominant players in emerging economies is attributive to market growth. market.
Key players including Asterias Bio, Athersys, Integra LifeSciences Corpotation, and MiMedx are involved in complex technical cum financial partnerships with larger players in an attempt to expedite R&D
Grand View Research has segmented the global regenerative medicine market on the basis of product, therapeutic category, and region:
Regenerative Medicine Product Outlook (Revenue, USD Million, 2014 - 2025)
Therapeutics & Devices
Primary Cell-bases therapeutics
Stem Cell & Progenitor Cell-based therapeutics
Regenerative Medicine Therapeutic Category Outlook (Revenue, USD Million, 2014 - 2025)
Immunology & Inflammation
Regenerative Medicine Regional Outlook (Revenue, USD Million, 2014 - 2025)
Middle East & Africa
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