The global Regenerative Medicine Market size is expected to reach USD 57.08 billion by 2027, growing at a CAGR of 11.27% over the forecast period, according to a new report by Grand View Research, Inc. Recent advancements in biological therapies have resulted in a gradual shift in preference toward personalized medicinal strategies over the conventional treatment approach. This has resulted in rising R&D activities in the regenerative medicine arena for the development of novel regenerative therapies.
Furthermore, advancements in cell biology, genomics research, and gene-editing technology are anticipated to fuel the growth of the industry. Stem cell-based regenerative therapies are in clinical trials, which may help restore damaged specialized cells in many serious and fatal diseases, such as cancer, Alzheimer’s, neurodegenerative diseases, and spinal cord injuries. For instance, various research institutes have adopted Human Embryonic Stem Cells (hESCs) to develop a treatment for Age-related Macular Degeneration (AMD).
Constant advancements in molecular medicines have led to the development of gene-based therapy, which utilizes targeted delivery of DNA as a medicine to fight against various disorders. Gene therapy developments are high in oncology due to the rising prevalence and genetically driven pathophysiology of cancer. The steady commercial success of gene therapies is expected to accelerate the growth of the global market over the forecast period.
Related Press Release@ Regenerative Medicine Market Report
Regenerative Medicine Market Report Highlights
- The number of companies engaged in the development of advanced therapies is continuously increasing over the past few years. This is anticipated to increase the competition among companies to create a specific and efficient pipeline
- The therapeutics segment dominated the market in 2020 due to the high usage of primary cell-based therapies along with advances in stem cell and progenitor cell therapies. The implementation of these therapies in dermatological, musculoskeletal, and dental application results in the highest share of this segment
- Stem cell and progenitor cell-based therapies are anticipated to witness rapid growth due to high investments in this research space and an increasing number of stem cell banks
- With the rise in R&D and clinical trials of regenerative medicines, key players are offering several consulting services leading to lucrative growth of the services segment
- The oncology segment is estimated to account for the largest revenue share by 2027 owing to the high prevalence of cancer indications, which drives the demand for better solutions. The presence of a strong pipeline of regenerative medicines for cancer treatment also supplements the segment growth
- North America dominated the market in 2020 and is projected to continue its dominance over the forecast period. A significant number of universities and research organizations investigating various stem cell-based approaches for regenerative apposition in the U.S. propels the region’s growth
- Asia Pacific is projected to witness the fastest CAGR over the forecast period due to the emergence of key players and rapid adoption of cell-based approaches in the healthcare