Global Regenerative Medicine Market 2020-2025: Opportunities with the Implementation of the 21st Century Cures Act
Dublin, Nov. 24, 2020 (GLOBE NEWSWIRE) — The “Regenerative Medicine Market by Product (Cell Therapies (Autologous, Allogenic), Stemcell Therapy, Tissue-engineering, Gene Therapy), Application (Wound Care, Musculoskeletal, Oncology, Dental, Ocular), Geography – Global Forecast to 2025” report has been added to ResearchAndMarkets.com’s offering.
The Global Regenerative Medicine Market is Projected to Reach USD 17.9 Billion by 2025 from USD 8.5 Billion in 2020, at a CAGR of 15.9% during the Forecast Period.
Market growth is driven by the rising prevalence of chronic diseases, genetic disorders, and cancer; rising investments in regenerative medicine research; and the growing pipeline of regenerative medicine products. However, the high cost of cell and gene therapies and ethical concerns related to the use of embryonic stem cells in research and development are expected to restrain the growth of this market during the forecast period.
The cell therapies segment accounted for the highest growth rate in the regenerative medicine market, by product, during the forecast period
Based on products, the regenerative medicine market is segmented into tissue-engineered products, cell therapies, gene therapies, and progenitor and stem cell therapies. The cell therapies segment accounted for the highest growth rate in the regenerative medicine market in 2019. The increasing adoption of tissue-engineered products for the treatment of chronic wounds and musculoskeletal disorders and the rising funding for the R&D of regenerative medicine products and therapies are the major factors driving the growth of this segment.
Oncology segment accounted for highest CAGR
Based on applications, the regenerative medicine market is segmented into musculoskeletal disorders, wound care, oncology, ocular disorders, dental, and other applications. In 2019, the oncology segment accounted for the highest growth rate. This can be attributed to the rising prevalence of orthopedic diseases, growing geriatric population, increasing number of stem cell research projects, growing number of clinical researches/trials, and the rich pipeline of stem cell products for the treatment of musculoskeletal disorders.
Europe: The fastest-growing region regenerative medicine market
The global regenerative medicine market is segmented into North America, Europe, the Asia Pacific, and Rest of the World. The North America region is projected to grow at the highest CAGR during the forecast period in 2019. 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.
- Rising Prevalence of Chronic Diseases, Genetic Disorders, and Cancer
- Rising Investments in Regenerative Medicine Research
- Growing Pipeline of Regenerative Medicine Products
- Ethical Concerns Related to the Use of Embryonic Stem Cells in Research & Development
- High Cost of Cell and Gene Therapies
- Implementation of the 21st Century Cures Act
- Rising Demand for Organ Transplantations
Impact of the COVID-19 Pandemic on the Regenerative Medicine Market
- 3M Group
- Amgen, Inc.
- Anterogen Co., Ltd.
- APAC Biotech
- Aspect Biosystems
- Bluebird Bio
- Corestem, Inc.
- Integra Lifesciences Holdings Corporation
- Kite Pharma