The global regenerative medicine market was valued at USD $42.88 billion in 2022 and it is predicted to surpass around USD $185.93 billion by 2032 with a CAGR of 15.80% from 2023 to 2032.
Report Scope of The Regenerative Medicine Market:
|Market Size In 2022||USD $42.88 Billion|
|Revenue Forecast By 2032||USD $185.93 Billion|
|Growth Rate From 2023 to 2032||15.80%|
|Segments Covered||Product, Therapeutic Category|
|Market Analysis (Terms Used)||Revenue In USD Million/Billion And CAGR From 2023 To 2032|
|Regional Scope||North America; Europe; Asia Pacific; Latin America; Middle East & Africa|
|Key Companies Profiled||AstraZeneca plc; F. Hoffmann-La Roche Ltd.; Integra Lifesciences Corp.; Astellas Pharma, Inc.; Cook Biotech, Inc.; Bayer AG; Pfizer, Inc.; Merck KGaA; Abbott; Vericel Corp.; Novartis AG; GlaxoSmithKline (GSK); Baxter International, Inc.; Boehringer Ingelheim; Amgen, Inc.; Cesca Therapeutics, Inc.; U.S. Stem Cell, Inc.; Bristol-Myers Squibb; Eli Lilly and Company; NuVasive, Inc.; Organogenesis, Inc.; MiMedx Group, Inc.; Takara Bio, Inc.; Osiris Therapeutics, Inc.; Corline Biomedical AB|
Several advancements in biological therapies have shifted the preference toward personalized medicinal strategies over traditional treatment methods. This has created significant opportunities for market players who are involved in biological therapeutics development. The COVID-19 outbreak has considerably impacted various markets, including the regenerative medicine and T-cell therapy manufacturing market. The SARS-CoV-2 coronavirus crisis has significantly affected the delivery of CAR T-cell therapies. This impact is not just limited to patient care but has extended to administration, logistics, and limited healthcare resources. Several universities have slowed down clinical trial enrollment and other research activities. However, the market continues to expand as market players such as Novartis provide access to therapies such as Athersys, Inc.’s MultiStem, which is a highly relevant COVID-19 therapy.
Furthermore, regenerative medicines have been identified to have the unique ability to alter the fundamental mechanisms of diseases. Regenerative therapies in trials provide promising solutions for specific chronic indications with unmet medical needs. In December 2021, Novartis announced the introduction of T-Charge™, a next-generation CAR-T platform that would be a beneficial tool for novel investigational CAR-T cell therapies.
Significant advancements in molecular medicines have resulted in the development of gene-based therapy, which uses targeted delivery of DNA as a medicine to fight against various disorders. Gene therapy has high potential in the treatment of cancer and diabetes type 1 & 2 through restoring gene function. Currently, gene-based therapies are used in the treatment of patients suffering from cancer, oncology, infectious diseases, cardiovascular disorders, monogenic diseases, genetic disorders, ophthalmological indications, and diseases of the central nervous system. These factors have contributed to the growth of the regenerative medicine market.
Global Regenerative Medicine Market Segmentation: