Regenerative Medicine Market Size, Share, Trends & Industry Analysis Forecast, 2019 - 2026
Global Regenerative Medicine Market size is likely to derive growth from the exceptional clinical advancements in recent years. According to a report published by titled “Regenerative Medicine: Global Market Analysis, Insights and Forecast, 2019-2026,” the market was valued at US$ 23,841.5 Mn in 2018. Recent trends in regenerative Medicine and its increasing applications will lead to an impressive market CAGR of 26.1% as a result of which the market will reach US$ 151,949.5 Mn by the end of 2026.
Recent advancements in regenerative Medicine have been nothing short of spectacular. Through tissue regeneration and healing properties to their cameo in cancer treatments, regenerative Medicine have made headlines across the healthcare industry. The high investment in research and development (R&D) processes have helped companies cross the regulatory barriers. Regenerative Medicine also find applications in the treatment of major disorders such as Parkinson’s disease, Alzheimer’s disease, and a few other chronic diseases. With growing applications and successful clinical trials, the regenerative Medicine market will to witness rapid growth in the forthcoming years.
Regenerative Medicine Market to Witness Rapid Growth as Investors Splash the Cash on Product R&D
Recent surge in the number of successful clinical trials have played a major part in the increased adoption of regenerative Medicine. Several companies in the market are drawing investor funding for the development of their proposed clinical theories. Furthermore, highlights a few of the most prominent investment activities of recent times and discusses how these investments have influenced the regenerative medicine market share.
Mustang Bio’s CAR-T funding is a perfect example of the recent rise in financial investment. In 2019, the company announced that it received a whopping US$ 9 Mn for the research and development of its CAR-T candidates, aimed at the treatment of breast cancer with brain metastasis. Similarly, Rooster Bio’s US$ 22 Mn fund acquisition has opened the doors for rapid advancements in the company’s regenerative Medicine unit. Besides these investment activities, the report includes a few other recent funding developments and gauges the impact of these activities on the regenerative Medicine market.
Advanced Stem Cell Therapies Will Attract Further Riches; Market Entrants Likely to Increase
Increasing heart failure cases across the world have created the need for newer therapeutic approaches and treatment methods. Several existing stem cell therapies are centered around regenerative Medicine and although there are several applications, these products are yet to reach their full potential in the treatment of heart disorders. In a bid to better these therapies, researchers are contemplating their efforts on the development of regenerative Medicine in the treating heart failures. In 2019, a group of researchers from the University of Cambridge proposed a new theory with a potential to heal the heart failures without the need for organ transplant. Since then, theory has drawn attention from leading firms. Due to massive potential offered by regenerative Medicine, the number of market entrants will rise significantly in the coming years. As a result, there will be a significant rise in the overall investment and the regenerative Medicine market trends will witness rapid growth during the forecast period.
Novartis Receives EU Approval for Luxturna
The severity of chronic diseases has led to the demand for efficient medicines. The ability of regenerative medicine to treat severe life-threatening diseases in an efficient manner has created a huge demand for the products across the world. Increasing drug approvals have contributed to the rising uptake for regenerative medicines. In 2018, Novartis received usage approval from the European Union for its latest regenerative medicine ‘Luxturna’. The drug was used to treat and restore sight for people with vision impairment. Luxturna was widely useful in treatment of rare retinal diseases. The approval for Luxturna will contribute to the regenerative medicine market growth in the forthcoming years.
Integra LifeSciences’ Latest Product Offering Will Favor Market Growth
The advancements in regenerative medicine have fueled their demand across the world. Increasing product launches have contributed to the rising uptake of regenerative medicine across the world. In 2017, Integra LifeSciences announced the launch of Integra Dermal Regeneration Template Single Layer ‘Thin’. The product was aimed at repairing dermal defects in a one-step procedure. The medicine will also aid in reducing hospital stays.
Moreover, highlights a few of the prominent companies that are currently operating in the regenerative Medicine market. Some of the leading companies that have generated substantial revenues through regenerative Medicine include Avita Medical, Osiris Therapeutics, Inc., Tissue Regenix, Wright Medical Group N.V., Smith & Nephew, and Integra LifeSciences Corporation.
Regenerative medicine is the act of restoring, engineering, and substituting human organs, cells, or tissues to establish or reinstate their normal roles. They can engineer impaired organs or tissues by stimulating the human body’s repair mechanism for healing previously irrecoverable organs or tissues. The U.S. National Institutes of Health declared that gene therapy, biomaterials, and tissue engineering are all a part of regenerative medicine. Several clinical experiments with human tissues and genes have resulted in multiple benefits since the past few decades. Several advancements in the field of regenerative medicine signify its strong potential to treat life-threatening diseases, such as Parkinson’s and Alzheimer’s diseases as well as incurable diseases.
The Alliance for Regenerative Medicine stated that approximately 1028 clinical trials took place in the year 2018 for the development of regenerative medicine across the globe. Even though the industrial experts expressed positive reviews regarding the future of regenerative medicine, they still emphasized on the critical issues of scale-up and manufacturing. According to a few experts and research enthusiasts, the industry needs to think creatively about payment and financing models to increase sales and revenue. It states that around US$ 13.3 Bn have already been invested by key market players in the research and development activities in the field of regenerative medicine.
As per a study the global regenerative medicine Industry is likely to rise at a high compound annual growth rate (CAGR) during the forecast period. The report on regenerative medicine, titled, “Regenerative Medicine Market Size, Share and Global Trend By Product (Cell Therapy, Gene Therapy, Tissue Engineering, Platelet Rich Plasma), By Application (Orthopaedics, Wound Care, Oncology), By Distribution Channel (Hospitals, Clinics) & Geography Forecast till 2026,” offers a detailed analysis of key areas in the global market pertaining to product application, product types, regional demographics, areas of investment, and the latest industry trends. It further states in the report that the overall regenerative medicine market growth will be backed by the ever-increasing investments of huge sums in the development of regenerative medicine by prominent market players. Additionally, emergence of nanotechnology, rising prevalence of chronic and genetic disorders, and increasing popularity of stem cell technology are anticipated to propel the global regenerative medicine industry in the forthcoming years.
Regenerative Medicine Market Key Market Segments
The global regenerative medicine Industry holds immense potential due to the skyrocketing demand for products. Moreover, provides a brief analysis of the market for the year 2018 to get a glimpse of the recent market trends. The report further provides a thorough assessment of how organizations operating in the field of regenerative medicine have transformed in recent years and includes numerous factors that are responsible for a significant regenerative medicine Industry growth. The data provided in the report is derived by our highly skilled and motivated team of analysists who possess years of industry experience.
The report provides segmentation of the global regenerative medicine Industry based on the following factors:
· Distribution channel
For a better understanding, the report emphasizes on the dominating areas from all the segments. For instance, the product segment includes four key areas, namely, gene therapy, platelet-rich plasma, tissue engineering, and cell therapy. From each of these, also points out the most significant product type and incorporates various organizations that have been offering these services since the past few years. Moreover, the report provides a brief description of the potential held by few of the prominent market players and discusses certain companies that are projected to exhibit a little or no growth on all marketing stands.
Regenerative Medicine Market Research Methodology: A Vital Part of Creating Quality and Descriptive Market Reports
An essential part of creating a quality market report is research methodology. The report on regenerative medicine market offers insights into the areas of potential for business and investors alike and the latest trends in the market. The increasing number of clinical trials and a rise in the usage of regenerative medicine for the development of medicine for treating life-threatening diseases are few of the major factors driving the global regenerative medicine industrytrends. To understand the entire industry trends, it is very important to adopt an effective research methodology. We use the following key research methodologies to create our quality market reports:
· Primary research: We conduct in-depth interviews with numerous primary respondents, such as industry consultants, C-level executives of key market players, subject-matter experts (SMEs), key market players, and other similar sources to gather and verify pivotal quantitative and qualitative information. We also assess future potential of the global market from our sources. Numerous stakeholders, such as regenerative medicine vendors, doctors from clinics and hospitals, manufacturers, distributors, vendors, researchers, scientists, and laboratory technicians were consulted to create this report. Our primary sources also include participants from both the supply and demand sides of the market. The demand side of this market is analyzed by the usage of regenerative medicine due to increasing incidence of musculoskeletal disorders, diabetes, cancer, chronic wounds, and the rising geriatric population around the world. Interviewing them aids us in gaining qualitative and quantitative information of both the sides.
· Secondary research: This is mainly used to find and collect information for the commercial, market-oriented, technical, and extensive study of the global regenerative medicine Industry. In this step, multiple sources, namely, articles by recognized authors, press releases, white papers, regulatory bodies, annual reports, certified publications, investor presentations of companies, databases (Factiva, Bloomberg Business, and D&B Hoovers, for instance), and gold-standard and silver-standard websites were referred for identifying and gathering information for this report.
· Estimation of Market Size: Both bottom-up and top-down research approaches are used by us to analyze and validate the total regenerative medicine market size. We also use these approaches to find out the sizes of various sub-segments that are present in the market. All percentage shares, breakdowns, and splits are verified through primary sources as well as are determined by using secondary sources. The global regenerative medicine Industry size and supply chain, are analyzed through primary and secondary research sources, in terms of value. Additionally, prominent key players are identified by extensive secondary research.
Market Scenario Based on Regional Demographics
Presence of Prominent Market Players to Boost Growth in North America
The global regenerative medicine market is geographically divided by Latin America, North America, the Middle East and Africa, Asia Pacific, and Europe. Out of these, North America had acquired a revenue of US$ 9,128.2 Mn in the year 2018. This growth is attributed to the availability of advanced technologies and the existence of several research organizations involved in the development of technologically advanced therapeutics. Moreover, presence of numerous prominent key enterprises in the U.S. will increase the number of clinical trials, which in turn, is likely to propel the regenerative medicine Industry in North America. Additionally, several countries in North America house private and public banks to store a particular number of human tissues and cells. This has occurred due to a rise in the number of awareness programs regarding personalized medicines.
Increasing Number of Cell-based Research Activities to Favor Growth in Asia Pacific
Asia Pacific, on the other hand, is expected to exhibit significantly high CAGR during the forecast period due to the availability of facilities to propel stem cell research and expand infrastructure in emerging nations. The Japan Ministry of Health, Labor and Welfare, for instance, approved the regenerative medicine law in April 2013. The law has aided in increasing the number of research and development activities of cell-based and regenerative therapies. This has further supported in driving the regenerative medicine market growth in this region. The Chinese government has also approved various research activities based on human embryonic stem cells to motivate researchers to examine the clinical potential of these cells in China. Also, rapid transformation of lifestyle, rising medical needs, and increasing geriatric population are projected to impact the generative market positively in Asia Pacific.
Europe to Witness Growth Backed by Favorable Reimbursement Policy
Europe is anticipated to witness notable regenerative medicine market growth during the forecast period. This growth is attributed to the growing geriatric population base, favorable reimbursement scenario, rising investments in research and development by industry giants, increasing incidence of chronic disorders, and presence of trained researchers.
Regenerative Medicine Market Key Industry Developments
The rising adoption of advanced technologies has aided the key market players in generating a profitable regenerative market revenue in the recent years. The use of regenerative medicine has benefited several organizations on a global scale and aid in acquiring wide end-user coverage. The players operating in the regenerative medicine Industry have begun launching innovative products to gain fast track or European Commission (EC) approvals. Few of the notable company developments are given below.
· Novartis International AG, a Swiss multinational pharmaceutical company, headquartered in Switzerland, announced that the European Commission approved Luxturna in November 2018. Luxturna is considered to be the company’s first one-time gene therapy that can be used to treat an inherited retinal disease in adults and children. The condition causes vision loss by mutations in sufficient viable retinal cells and both copies of the RPE65 gene. Luxturna was created and commercialized by Spark Therapeutics in the U.S. According to the company, this treatment is capable of reducing substantial emotional, financial, and physical burden that this disorder has on the patients and their families.
· Novartis declared in August 2018 that it received approval for Kymriah from the European Commission. Kymriah is a CAR-T cell therapy that is manufactured separately for each patient by reprogramming their immune system cells. The approval allows the treatment of children and young adults up to 25 years of age with refractory acute lymphoblastic leukemia. It can be also used to treat adults with refractory or relapsed diffuse large B-cell lymphoma after a few lines of systematic therapy.
· Integra LifeSciences, a surgical and medical instrument manufacturing company, based in the U.S., announced the launch of its Europe Integra Dermal Regeneration Template (IDRT) Single Layer ‘Thin’ in May 2017. It is the company’s newest member of collagen range of dermal repair products. This latest addition will boost Integra’s proven advanced collagen technology for more than 20 years in several indications, including diabetic foot ulcers, scar revisions, and life-threatening burns.
The Future of Regenerative Medicine Market
According to a few researchers and enthusiasts, the waiting lists for organ transplants will be a thing of the past in the near future. Soon, patients will have complete access over the regenerative medicine treatment options that will aid in bypassing the complex nature of organ donation. The mankind will be able to use their own bodies in producing repair mechanisms to avoid long wait-time, limited supply of organ transplantations, and cost.
This is just one of the many possibilities of regenerative medicine. Regenerative medicine has huge potential to transform the treatment of disease and injury. There may be a day in the near future when the diagnosis of Parkinson’s will no longer mean inevitable neurodegeneration or a day when a paralysis patient would be able to regain his or her movement.