According to a study published by Insure Insights, the global regenerative medicine is estimated to grow at a CAGR of 25.8% during the forecast period. Regenerative medicine is the discipline of medicine used for the regeneration or replacement of organs, human cells, and tissues to re-established normal functionality. Regenerative medicine focus on renewing or replace cells in human tissues and organs that have been damaged and failed to function due to injury or illness. It is achieved by promoting the body’s cells to heal or treating a patient with laboratory-grown cells and tissues. It holds the ability to treat previously incurable chronic diseases and conditions, including spinal cord injuries, Alzheimer’s disease, Parkinson’s disease, diabetes, heart disease, renal failure, osteoporosis, and others. Besides, the entire organ can be generated for transplantation using regenerative medicine.

Top Driver: Revolution of Stem Cell Technology and Advancement in Monitoring Devices & Surgical Technologies

The factors driving the growth of this market, such as the revolution of stem cell technology, advancement in monitoring devices and surgical technologies, untapped potential of nanotechnology, increase in the prevalence of chronic diseases & trauma emergencies, rise in the incidence of degenerative diseases, and insufficient organs for transplantation. Growing focus on stem cells and growth in R&D activities in emerging economies is expected to propel the market growth. The developing countries are focused on technological advancements, which is estimated to boost market growth worldwide. On the other hand, stringent government norms, operational inefficiency, and high cost associated with treatment through regenerative medicine are estimated to hinder the growth of the market.

Genetically Derived Material Segment Market Accounts for the Largest Market Share

The market is segmented into synthetic material, biologically derived material, genetically engineered material, and pharmaceutical-based on the material. The biologically derived material is the dominant segment and is expected to maintain dominance during the forecast period. The demand for genetically engineered material has increased due to their distinctive properties such as increased proliferation, promotion of cellular interactions, control the manipulation of cellular behavior, and differentiation of cells that facilitate self-assembly into directionally organized structures.  The market has been segmented into cell therapy, gene therapy, tissue engineering, and small molecule & biologic. Based on the Application, the market is segmented into cardiovascular, oncology, dermatology, and others.

 Surging Research Activities in the Field of Regenerative Medicine to Benefit North America Market

The regenerative medicine market in North America is expected to hold the largest share globally, also grow at a significant rate during the forecast period. Growing awareness of personalized medicine, surging research activities in the field of regenerative medicine, and the introduction of CAR-T cell therapies have also resulted in the establishment of stem cell banking and tissue engineering, thereby boosting the market in the region. Following North America, the Asia Pacific is estimated to witness significant growth during the forecast period owing to the development of infrastructure and facilities to escalate stem cell research in the emerging regional economies.

Players to Focus on Mergers and Acquisition and Product Development

The global regenerative medicine is estimated to stay fragmented during the forecast period owing to the possible new entrants. The major players operating in the market are Zimmer Biomet, Stryker Corporation, Athersys, Medtronic, U.S. Stem Cell, Integra Lifesciences, Organogenesis, Acelity Holdings, CryoLife, and Isto Biologics.

SanBio Group: In September, 2019 the SanBio Group a scientific leader in regenerative medicine for neurological disorders, announced that the U.S. Food and Drug Administration (FDA) granted Regenerative Medicine Advanced Therapy (RMAT) Designation for SB623 cell therapy for the treatment of chronic neurological disorders.

Scope of the Report

By Product Type

• Cell Therapy
• Gene therapy
• Tissue Engineering
• Small Molecule & Biologic

By Application

• Cardiovascular
• Oncology
• Dermatology
• Others

By Material

• Synthetic material
• Biologically derived material
• Genetically engineered material
• Pharmaceutical

By Region

• Europe
• Asia Pacific
• SAMEA

Key Reasons to Purchase this Report

1. It provides a technological development map over time to understand the growth rate of the industry.
2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.
3. It renders definite analysis for changing competitive dynamics.
4. It builds a seven-year estimate based on how the market is predicted to grow.