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
The Centers for Medicare and Medicaid Services on Sunday gave the state permission to stop using the federal exchange, Healthcare.gov, for enrollment in the individual market and shift to a private sector Georgia Access Model, starting in 2023.
State officials argue that the move will give residents access to a broader array of options from web brokers, health insurance companies and agents — which will have a greater incentive to enroll consumers in coverage. They estimate the waiver will lower premiums and increase enrollment by 25,000 people.
Advocates, however, fear that it could shift healthier people to less comprehensive, non-Obamacare plans and leave those with pre-existing conditions facing higher premiums for Affordable Care Act policies. Plus, consumers could unknowingly sign up for skimpier policies.
“Consumer could end up in insurance plans that don’t cover everything they think it would cover,” said Tara Straw, senior policy analyst at the left-leaning Center on Budget and Policy Priorities.
What’s more, the Georgia waiver would eliminate residents’ ability to go to a single website to see all their options. Instead, they would have to navigate a fragmented system of broker and insurers — similar to what existed prior to the landmark health reform law, Straw said. This would likely decrease coverage and raise premiums.
The waiver does not meet the federal requirements for approval, including covering as many people with the same affordable and comprehensive coverage as without the waiver, Straw said. This will open up the approval to legal challenges.
About 433,000 Georgians were enrolled in Obamacare exchange plans, as of February, according to federal data.
The Trump administration is backing a coalition of Republican-led attorneys general, including Georgia’s, who argue that Obamacare’s individual mandate was rendered unconstitutional after Congress reduced the penalty for not having insurance to zero as part of the 2017 tax cut law. As a result, the entire health reform law must fall, they argue.
“We need to have the Affordable Care Act, whether in its current structure or it’s been changed or corrected or fixed or being added onto,” Rivera said. “We need to have something for the folks of the United States of America. For us not to have affordable, quality healthcare, and be the richest nation in the world, that’s kind of disappointing.”
On Monday, Rivera spoke at length about the importance of voting in Tuesday’s election, as well as democracy writ large. He said it’s been “really cool” to hear players discuss current affairs, and he noted that the spectrum of political ideologies in the locker room was “huge.” The enthusiasm for engagement was echoed in a Monday blog post by team president Jason Wright, who wrote the team believed in “big, meaningful and comprehensive community activities versus a collection of small one-off ventures.”
“For example, we will continue to have a robust set of activities around social justice because the players on our team and our employees care about those issues,” he added. “Voting is one component, but there is much more we can and will do.”
Rivera reiterated Monday the importance of participation in democracy, saying that the thing that bothers him most is when people don’t vote. In past years, Rivera has gotten up early to be one of the first people at the polls. He loves the “I voted” stickers. This year, he and his wife Stephanie and daughter Courtney filled out their ballots and put them in the mailbox. On Tuesday, he said he plans to turn the television on around 5 p.m. and click between local and national stations to monitor elections.
“People always ask me: ‘Who did you vote for?’” the coach said. “I always tell them, ‘I voted American.’ I believe I voted for who I believe is going to be the best person for us.”
After his cancer diagnosis in July, Rivera has become an advocate for improved healthcare. The coach has grown more outspoken over the last three months, and he’s sometimes gone as far to call for “universal” healthcare. The message on Monday was more tempered, framed around the ACA, but the root of his activism remains personal. Rivera, 58, is now one year older than his brother Mickey was when he died of pancreatic cancer in 2015.
This season, the coach has been limited at times by chemotherapy and other treatments. He’s thought about others in the same fight during his time in the hospital, those who might not have a five-year contract worth millions.
“After seeing what I went through, and knowing what the cost has to be, you worry about the folks that can’t afford what I had,” he said. “I almost don’t want to say it’s unfair, but it is. These folks deserve every opportunity [to receive quality healthcare]. It just kind of struck a chord with me.”
On Monday, the coach mentioned an upcoming fundraiser for Inova Health System, the Northern Virginia hospital company where
Callaghan O’Hare/Bloomberg via Getty Images
You never know where an act of kindness ends.
Tara Berliski of Magnolia, Texas, offered to donate a kidney to her husband, John Berliski. His were removed in July because of polycystic kidney disease. Doctors at the Houston Methodist Hospital living donor program explained that because John Berliski has type AB blood, he could receive a kidney from almost any donor. But if John and Tara Berliski chose to enter a kidney swap program, they might be able to help someone else, too; someone else might help them.
John Berliski told the doctors, “Yes, I’ll go ahead and help whomever.” It set off an extraordinary chain of events, as reported in the Houston Chronicle.
Justin Barrow, a 40-year-old youth pastor in Longville, La., has a rare kidney disorder, and had a transplant when he was 15; it was beginning to falter. A cousin offered to donate their kidney, but doctors said it wasn’t a good match. A kidney from Tara Berliski would be.
Diane Poenitzch of Garland, Texas, had been on the list to receive a transplant for nearly four years. Her sister, Paula Gerrick, had offered to be a donor, but her blood type is AB. Not a good match for her sister, but potentially for John Berliski.
The National Kidney Foundation says more than 100,000 people are on the waiting list for a kidney. Yet only about 20,000 receive a transplant each year. A patient on that list will wait an average of three to five years before they become one of the fortunate ones to receive a transplant. Many—there is no nice way to say this—die waiting.
But on October 20, a 30-hour series of operations began at Houston Methodist, involving more than 80 doctors, nurses, and technicians.
Justin Barrow’s cousin, Samantha Barrow, donated a kidney to Misael Gonzalez, whose mother, Teresa Salcedo, donated a kidney to Debra Lewing, whose supervisor, Dawn Thomas, donated a kidney to Diane Poenitzsch, whose sister, Paula Gerrick, has AB blood type, and donated a kidney to John Berliski.
Dr. Osama Gaber was the lead surgeon. When his young daughter, Nora, died in 1998, his family donated her organs for transplant. Years later, they founded Nora’s Home, where organ transplant patients and their families can stay before and after surgeries.
The 10 donors and recipients are all recovering, doing well and began to meet one another this week. They are former strangers, now bound for life by blood and kindness.
“You know you are saving loved ones,” Tara Berliski told us from Magnolia, Texas. “And that’s everything.”
Several hospitals and healthcare systems have “returned” CARES Act funding, according to reports and a federal database, though it’s not clear whether those funds were repaid or given back without being spent.
An analysis by MedPage Today also revealed discrepancies in public statements and reported distributions by some of the nations’ top healthcare systems.
HCA Healthcare, the for-profit hospital system based in Nashville, Tenn., said in a press release earlier this month that it would “return, or repay early,” its entire $1.6 billion in CARES Act distributions along with $4.4 billion in Medicare accelerated payments. Leadership determined the company didn’t need the money after netting a $1.1 billion profit for the second quarter, according to the press release.
But HCA’s COVID Stimulus Watch page, produced by watchdog Good Jobs First, indicates the company actually received $1.57 billion from general distributions — loans that are often tied to Medicare accelerated payments — plus $487 million in targeted grants.
That $2.1 billion total, derived from multiple data sources including Department of Health and Human Services (HHS) data, is well short of the $6 billion HCA noted in its press release.
In addition, the HHS database has recorded only about $141.5 million accepted by HCA entities via general CARES Act distributions, as of Tuesday. An an HHS spokesperson said its dataset “only includes payment amounts formally accepted by providers.”
Researchers at Good Jobs First told MedPage Today that what public companies report publicly regarding CARES Act funds sometimes does not match HHS data. That has been the case with Tenet Healthcare and HCA, researcher director Philip Mattera said.
“HCA was not very clear in that announcement [the news release] about what exactly they are giving back or returning,” Mattera said.
An HCA spokesperson said he was unfamiliar with the COVID Stimulus Watch database and declined further comment for this story, repeatedly pointing to the news release to answer questions.
The American Hospital Association and the Federation of American Hospitals also declined to comment for this story.
The Provider Relief Fund, established under the CARES Act, involves both general distribution loans (which often include Medicare advance payments) and targeted grants for medical centers deemed to be most needy. But some Medicare funds are included in both categories and general distribution figures keep changing because they are based in part on providers completing forms, Mattera said.
“All of this makes it tough to pin down exact numbers,” Mattera said.
Similar discrepancies were seen with Kaiser Permanente. The health system said it declined most of the more than $500 million it was eligible to receive, according to a spokesperson and a news release. Both sources noted Kaiser Permanente “declined all of [the money] except for $11.8 million for Maui Health System, a nonprofit subsidiary of Kaiser Foundation Hospitals.”
But Maui Health System actually received $17.2 million, according to the HHS general distribution database.
“Bottom line: we did not accept or keep any of [the $500 million-plus] except the money for Maui Health System,” the Kaiser Permanente
Affordable Care Act: Trump keeps chipping away at Obamacare with only weeks until the election — and a Supreme Court hearing
The administration this week approved Georgia’s waiver request to provide Medicaid coverage to certain low-income residents if they work or participate in other qualifying activities for at least 80 hours a month. It’s the latest state to receive permission to require work as a condition of coverage, though implementation elsewhere has been halted by federal courts or state officials.
The Peach State, which has the nation’s third highest uninsured rate at 13.4%, is the first to seek this enhanced power to reshape its individual market.
Georgia and federal officials say that these efforts will make coverage more available and affordable to residents, but consumer advocates say they are the latest attempts to undercut the law.
“It’s a road map of what they would allow were the ACA to be struck down and were they to win election again,” said Judy Solomon, senior fellow at the Center on Budget and Policy Priorities.
What Georgia wants to do
Georgia is not looking to expand Medicaid under the Affordable Care Act. The waiver only applies to those earning up to