The Regenerative Medicine Market is expected to register a CAGR of 21.18% during the forecast period of 2021 to 2027.
MRFR recognizes the following companies as the key players in the global regenerative medicinemarket—Zimmer Biomet Holdings Inc. (US), AbbVie Inc. (US), Cryolife, Inc. (US), Stryker (US), Medtronic Plc (Ireland), Baxter International Inc. (US), Organogenesis Inc. (US), Ocata Therapeutics Inc. (US), Integra Lifesciences Holdings Corporation (US),Vericel Corporation (US), and Others.
Market Highlights
The global regenerative medicine market is expected to register a CAGR of 21.18% during the forecast period and is expected to hit USD 152,501.51 million by 2027.
The global regenerative medicine market is growing steadily. Factors that influence the regenerative medicine market are increasing advancement in healthcare technology, increasing advanced technology in the regenerative medicine market, increasing prevalence of chronic diseases, and increasing growth in stem cell technology. However, the ethical concerns for using embryonic stem cells are expected to restrict the growth of the global regenerative medicine market
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Segment Analysis
The global regenerative medicine market has been divided based on type, material, application, and end user.
The market, based ontype, has been segregated intocell therapy, gene therapy, tissue engineering, and small molecule & biologic.Based on material, the regenerative medicine market has been divided intosynthetic, genetically engineered, biologically derived,and others.On the basis of application, the market is bifurcated into musculoskeletal disorders, wound care, oncology, ocular disorders, diabetes,and others. On the basis of end user, the market is bifurcated intohospitals, specialty centers, academic & research institutes,and others.
Regional Analysis
The global regenerative medicine market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and Middle East & Africa. The Americas is expected to dominate with the largest market share due to a well-developed healthcare sector,rising number of clinical trials, and the government has also been working on plans to bridge the curriculum gap with the establishment of fellowships, specialty centers, and research institutes.
Europe held a significant share in the global regenerative medicine market. This can be attributed tothe success of the pan-European projects (such as CHRODIS and CHRODIS PLUS), government initiatives, public and private research funders, and collaborative scientific research projects in the field of regenerative medicine. In addition, rising investment in healthcare infrastructure and government schemesare likely to propel the regenerative medicine market across Europe.
Asia-Pacific is estimated to be significant in regenerative medicine treatment due to transformation in healthcare infrastructure, cross-country scientific research programs, and the cases of diabetes and cancer have been increasing at an alarming rate across the region.Such factors are expected todrive the growth of the regenerative medicine market in the region during the forecast period.
The regenerative medicine market in Middle East & Africa accounts for the minimum share of the regenerative medicine market due to regional political tensions, which have led to limited investments in the field of regenerative medicine across the region.Moreover,a considerable portion of the population in the region suffers from genetic diseases such as thalassemia and sickle cell anemia are also majorhealth concerns in this region.
Key Findings of the Study
- The global regenerative medicine market was valued at USD 41,341.56 million in 2020 and is projected to register a CAGR of 9.94% during the assessment period.
- The Americas accounted for the largest share of the global market due to the well-developed healthcare sector,rising number of clinical trials, enactment of the 21st Century Cures Act, increasing monetary support by investors, and favorable government policies.
- Based ontype, the cell therapy segment accounted for the larger market share of 56.74% in 2020
- Based on material, the genetically engineered segment is expected to register the fastest growth at a CAGR of 24.85% during the forecast period.
- Based on application, the on cology segment accounted for the larger market share with a value of USD15,418.37 million in 2020
- Based on end user, the hospitals segment accounted for the larger market share with a value of USD 23,617.00 million in 2020
- Stryker, Zimmer Biomet Holdings Inc., AbbVie Inc., Integra Lifesciences Holdings Corporation, and Organogenes is Inc.are the key market players.
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