The size of the regenerative medicine market is worth approximately $ 37.92 billion by 2030

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The size of the regenerative medicine market is worth approximately $ 37.92 billion by 2030

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According to Precedence Research, the size of the regenerative medicine market is expected to be worth approximately $ 37.92 billion by 2030 and is expanding growth at a CAGR of 16.2% from 2021 to 2030.

Ottawa, March 16, 2022 (GLOBE NEWSWIRE) – The size of the regenerative medicine market it was reached at $ 9.81 billion in 2021. The discovery of drugs capable of regenerating tissue and reducing dependence on transplants is motivated by the loss of organs and tissues due to organ disorders or damage. Regenerative medicine is an interdisciplinary field that uses the principles of engineering and life sciences to stimulate the regeneration of damaged or injured organs and tissues.

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One of the main factors driving the growth of the regenerative medicine market is the increasing prevalence of genetic and chronic diseases. Furthermore, the growing geriatric population, prone to cardiological and oncological problems, is driving the expansion of the market. Consequently, the increased acceptance of organ transplants also contributes to the growth of the regenerative medicine market. Regenerative medicine reduces the chances of the body rejecting the organ after the transplant and accelerates the patient’s recovery. Other factors, such as substantial medical research and development efforts and improved healthcare infrastructure, are expected to fuel market growth.

Scope of the report

Details

Market size in 2030

37.92 trillion dollars

Growth rate from 2021 to 2030

CAGR of 16.2%

Larger market

North America

Reference year

2021

Companies covered

Integra LifeSciences Corporation, Amgen, Inc., Aspect Biosystems, Medtronic plc, AstraZeneca, Novartis AG, MiMedx Group, Shenzhen SibionoGeneTech Co., Ltd., Smith & Nephew plc and Baxter

Highlights of the report

  • Based on the product, the therapeutic segment dominated the global regenerative medicine market in 2021 with the highest market share of 57%. Primary cell therapies are the most developed drugs accessible in the therapeutic sector, due to their use for a variety of therapeutic purposes.

  • Based on the application, the musculoskeletal segment is estimated to be the most opportunistic segment during the forecast period. This is due to the increasing frequency of orthopedic diseases, the growing number of clinical trials, the growing number of stem cell research projects and the wide supply of stem cell products for the treatment of musculoskeletal problems.

  • North America accounted for the largest share of revenue of more than 41% in 2021. The large number of clinical trials in North America is due to the presence of a significant number of leading market players in the United States, as well as the presence of leading organizations. research involved in the development of new treatments and the availability of modern technology.

  • The Asia-Pacific region is the fastest growing region in the regenerative medicine market. The regulatory framework has increased the number of clinical trials for cell-based and regenerative medicines. As a result, the region’s regenerative medicine market has grown. Other factors impacting the growth of the global regenerative medicine market in the Asia Pacific region include increasing medical demand, aging populations, and changing lifestyles.

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Market dynamics

drivers

Growing geriatric population

The elderly or elderly population is rapidly increasing. According to the World Health Organization (WHO), the number of people aged 65 and over is expected to increase by about 1.5 billion by 2050. In developing countries such as China, Japan, India and Korea. South, the figure is expected to increase. Cancer, diabetes, high blood pressure, and blood sugar levels are just some of the health problems facing the geriatric population. They need to be more cautious about their health. As a result, they require medications at regular intervals. Consequently, during the forecast period, the growth of the geriatric population will drive the growth of the regenerative medicine market.

Limited

High cost of therapies

For patients suffering from terminal illnesses and severe illnesses, gene and cell therapies are an extraordinary achievement in the field of medicine. These treatments are assisting in the transformation of the way diseases are treated and treated. Despite the fact that these therapies are extremely helpful in saving lives, the demand for these therapies is lower than expected. This is due to the high prices of these therapies, which limit the growth of the market.

Opportunity

Increased acceptance of the cancer immunotherapy product

Cancer is caused by the transformation of normal cells into cancer cells in the course of a multi-stage process that typically begins with a precancerous lesion and progresses to a malignant tumor. These changes are caused by the interaction of a person’s hereditary factors. Cancer is the leading cause of death worldwide, with approximately 10 million deaths by 2020. Since each type of cancer requires a unique treatment plan, correct cancer diagnosis is critical for appropriate and effective treatment. Chemotherapy, radiation therapy, and surgery are common cancer treatments. Cancer immunotherapy using regenerative medicine has the advantage of being able to target and eliminate diseased cells due to the inherent ability of hematopoietic or more mature stem cells. It also allows for a better understanding of cancer cells, which aids in the development of effective treatments. As a result, the growing demand for cancer care products, coupled with the increase in disease prevalence, will create opportunities for market expansion.

Challenges

Strict government regulations

The use of regenerative medicine in many developed and developing regions requires government approval. Regenerative medicine products require Food and Drug Administration (FDA) licensing or approval for marketing and sales. Therefore, strict government regulations are the biggest challenge for market growth.

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Main market segments covered:

By product

By application

  • Wound care

  • Skeletal muscle

  • Ophthalmology

  • Oncology

  • dermatology

  • Cardiovascular

  • others

By geography

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