Rising Awareness for Stem Cell Therapeutics to Boost the Global Regenerative Medicine Market

Regenerative Medicine Market is expected to register a CAGR of 21.5% during 2020-25. The market was valued at USD28.60 billion in 2020, says MarkNtel Advisors.

UNITED STATES, August 6, 2021 /EINPresswire.com/ -- The market attributes to the increasing number of patients diagnosed with chronic ailments, such as diabetes, Alzheimer's disease, cancer, renal failure, spinal cord injury, etc. Till 2020, Alzheimer's was the 6th leading cause of death in the United States. According to the US based Alzheimer's Association, the total population suffering from Alzheimer's in the country reached 5 million in 2020. Eventually, the use of regenerative medicine is becoming popular as it offers a complete cure for this disease.

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The launch of the Cures Act by the Food and Drug Authority (FDA) in 2016 established the Regenerative Medicine Innovation Project (RMIP) to support clinical research on adult stem cells. Thus, the factor has been generating more demand for regenerative medicine from the past few years.

The COVID-19 Impact on the Global Regenerative Medicine Market
The outbreak of COVID-19 had a significant impact on various industries including the healthcare sector. The production facilities were at a standstill & the entire value chain was disturbed due to the imposition of lockdown. The lack of investments amidst the pandemic and approval delays also affected the startups operating in the market. Moreover, the cancellation of tissue replacement & reconstructive surgeries and lack of cell donors for research and therapies hampered the growth of regenerative medicine market.

The advent of the coronavirus pandemic globally has also increased the focus towards clinical trials using novel procedures such as cell therapies. Further, the market participants would continue to receive perennial government support to develop new therapies to marginalize COVID-19

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Cell Based Immunotherapy & Cell Therapy Products Acquired the Largest Market Share

Under Cell Based Immunotherapy & Cell Therapy, tissue engineered products dominated the Global Regenerative Medicine Market in 2020. Further, technological advancements in stem cell therapies are resulting in an increase in the demand for cancer & diabetes treatment across the globe.

Oncology to Attain Largest Market Share of the Global Regenerative Medicine Market

Based on the Application, the market segments into Musculoskeletal Disorders, Wound Care, Oncology, Diabetes, Dermatology, Ophthalmology, and Bone Graft Substitute. Of these segments, Oncology is likely to grow at a highest CAGR during 2020-25.

The large number of individuals diagnosed with cancer are creating a requirement for effective cancer treatment, and regenerative medicine is one amongst them. Several private companies & government organizations have made a massive investment in the research & development of cancer regenerative & advanced cell therapies, leading to augment market growth.

North America Dominated the Market with the Largest Share
North America acquired the largest market share in the Global Regenerative Medicine Market in 2020 The regional market is expected to clock USD19.05 billion in revenues by 2025. It owes to the rising incidences of bone and joint injuries and growing awareness about regenerative medicine. The surging number of cosmetic surgical procedures in North America, particularly in the US & Canada, further adds to the growing demand. The presence of research institutes and the availability of leading market players involved in the R&D of novel therapeutics are surging the number of clinical trials in the region.

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Market Drivers:
• The increasing number of investments in the research and development of regenerative medicine is augmenting the global market.
• The rising adoption of stem cell, gene, and CAR-T-cell therapies worldwide is increasing the global regenerative medicine market.
• The organizations and government initiatives are rising the global regenerative medicine market.

Market Challenge:
• Insufficient regulatory framework in the US
• The high cost of medication.

Market Opportunities
• Development of Products for the Treatment of Rare and Orphan Diseases
• Implementation of the 21st Century Cures Act in US to increase choice and access for patients and providers
• Use of Nanomaterials in medication

Trends & Developments
• Boost in Merger & Acquisition
• Increasing Development in Stem Cells Therapeutics
• Rise in funding for R&D

Regulatory Implications and Industry Standards
• Human Fertilizations and Embryology Authority (HFEA)
• Human Tissue Authority (HTA)
• Medicines and Healthcare Products Regulatory Agency (MHRA)

Market Segmentation:
1. By Type (Cell Based Immunotherapy & Cell Therapy Products, Tissue Engineered Products, Small Molecule and Biologics)
2. By Application (Musculoskeletal Disorders, Wound Care, Oncology, Ocular Disorders, Diabetes, Dermatology, Ophthalmology, Bone Graft Substitute)
3. By Distribution Channel (Hospitals, Clinics and Others)
4. By Country (US, Canada, Mexico, Brazil, Argentina, UK, Germany, Italy, Spain, Netherlands, China, India, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa)
5. By Company (Novartis AG, Vericel, Stryker, Spark Therapeutics, Wright Medical, Pfizer, Abbott, Astra Zenca Ltd., Astellas Pharma Inc., Osiris Therapeutics, Mimedx Group, Organogenesis Inc., Athersys, Inc, Acelity Holdings, Inc, etc.)

Key Questions Answered:
1. Which are the most prominent driving & roadblock factors of the "Global Regenerative Medicine Market?"
2. What are the new opportunities by which the "Global Regenerative Medicine Market" will grow in the coming years?
3. How vast is the "Global Regenerative Medicine Market" in revenue, sales, and production?
4. What are the market shares of each region in 2021, and which one of them is dominating the "Global Regenerative Medicine Market?"

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https://www.marknteladvisors.com/research-library/global-autoimmune-disorder-drug-delivery-devices-market.html
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• Global Precision Medicine Market Analysis, 2020
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