Regenerative medicine refers to the use of biological and engineering theoretical methods to create lost or functionally damaged tissues and organs. Regenerative medicine can be described as the theory, technology, and surgical operations of tissue regeneration in the body. It can also consider as a discipline that studies how to promote the physiological repair of trauma and tissue and organ defects and how to perform tissue and organ regeneration and functional reconstruction.
Regenerative medicine marks a new era for the medicine to rebuild, regenerate, manufacture, and replace tissues and organs. It also brings new hope for most medical problems facing humans, such as cardiovascular disease, autoimmune diseases, diabetes, Malignant tumors, Alzheimer’s disease, Parkinson’s disease, congenital genetic defects, and other diseases and the treatment of various tissue and organ damage.
Global Regenerative Medicine Market expected to grow with a CAGR 19.14% during the estimated period, 2019-2027 and projected to generate revenue of USD 190.08 Billion by 2027. The rise in the prevalence of chronic diseases & trauma emergencies and the emergence of stem cell technology is likely to boom the global regenerative medicine market in the forecast period. Additionally, conditions related to aging has become a significant medical and social problem across the globe, which leads to the growth of the global regenerative medicine market. Moreover, the rise in the number of patients with cardiovascular disease, diabetes, and millions of patients with Alzheimer’s disease and hematological tumors will accelerate the global regenerative medicine market.
Furthermore, accelerating the development of the regenerative medicine market is of great and practical significance for improving human living standards and benefiting human health. Further, the surge in funding for regenerative medicine research, and increasing demand for regenerative medicine for the treatment of cancer, orthopedic disorders, and chronic wounds are vital factors projected to trigger the global regenerative medicine market.
The increase in diseases related to aging has become a significant medical and social problem. At present, one of the primary causes among the elderly population is cell aging, which leads to issues such as cell damage, the development of inflammatory processes, slow regeneration, and reduced functional activity of corresponding tissues and organs. According to WHO, the proportion of the burden of non-communicable diseases anticipated to increase to 57% by 2020. Almost half of the total chronic disease deaths are attributable to cardiovascular diseases, obesity, and diabetes. It has projected that, by 2020, chronic diseases will account for almost three-quarter of all deaths worldwide, and that 71% of deaths due to ischaemic heart disease (IHD), 75% of deaths due to stroke, and 70% of deaths due to diabetes will occur in developing countries.
Governments and people in various countries have actively invested considerable resources in recent years to develop regenerative medicine. In the Asia Pacific, Japan is the first country to propose specific legislation of the global regenerative medicine. Clinical trials would also begin in areas such as the retina, the esophagus, heart, etc. World Health Organization (WHO) launched an initiative to eliminate hepatitis by 2030.
Regenerative medicine aimed at repairing, replacing, and rejuvenating tissues or organs to improve human life caused by trauma, disease, or natural aging. It combines different specialties across fields, including biology, chemistry, computer science, genetics, robotics, etc., not only to activate the body’s original natural repair mechanism, but also to make it doubly useful. According to the World Bank, the population aged 65 and above increased from 7.64% in 2010 to 8.92% of the overall population in 2018.
Based on technology, the global Regenerative Medicine Market categorized into Cellular Therapy, Gene Therapy, Tissue Engineering, and Exosome Therapeutics. The Cellular Therapy segment projected to lead the market and witnessed to exhibit 48.53% market share in 2018, owing to its efficiency in restoring the lost function of tissues and organs. Cellular Therapy can solve the problem of organ transplantation, and organ transplantation can become one of the means of cancer treatment. The gene therapy segment will drive by its application to reduce levels of the disease-causing version of a protein and increase the production of disease-fighting proteins.
Based on the Source, the Global Regenerative Medicine Market bifurcated into Autologous and Allogenic. The Autologous segment estimated to exhibit 61.14% market share in 2018 and anticipated to dominate the market due to their features such as cells derived from patients themselves. The use of autologous is a safe therapeutic option as the cells will not elicit an immune response. Allogenic will grow by its properties, such as the stem cells are from a donor. Allogenic do not elicit robust immune responses.
Based on the application, the Global Regenerative Medicine Market segmented into Dermatology, Musculoskeletal, Oncology, Cardiovascular, Neurology, Hematology & Immunology, and Others. The oncology segment witnessed to exhibit 43.47% market share in 2018 and expected to dominate the market due to the surge in the cancer-affected population along with huge investments done in research related to cancer and development of regenerative & advanced cell therapies by the various government in developing and developed countries.
The dermatology segment will driven by the presence of easy grafting techniques for dermatological wounds and diseases related to skin.
By the End-user, the Global Regenerative Medicine market segregated into Hospitals, Ambulatory surgery centers (ASCs), Clinics, and Others. The Hospital segment generated the highest revenue with 52.46% market share in 2018 and anticipated to dominate the market over the forecast period due to the partnership formed between hospitals and regenerative medicine manufacturing companies to provide cell therapy and tissue scaffolds to improve patient care and treatment. The clinics’ segment will grow on account of certified clinics that offer healthcare services to people. These centers have specialized departments for regenerative medicine, which provide care and treatment.
Based on geography, the global Regenerative Medicine market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America attributed to generating 41.68% market share in 2018 and estimated to generate USD 66.57 Billion revenue by 2027 owing to the availability of advanced technologies and the presence of research institutes and the rising initiatives by government and private organizations. Europe will be the fastest-growing region with a CAGR of 19.33% during the forecast period. It has generated revenue of 64.32 USD Billion in 2017 on account of the enormous growing aging population along with rising medical needs of the people and changing lifestyle.
Companies such as Integra LifeSciences Corporation, MiMedx Group, Inc., AstraZeneca, F. Hoffmann-La Roche Ltd, Merck & Co., Inc., Pfizer Inc., Stryker Corporation, Zimmer Biomet Holdings Inc., Medtronic Plc., Athersys Inc., US Stem Cell, Organogenesis Inc., Acelity Holdings Inc., Isto Biologics, Cryolife Inc. and Baxter are the key players in the Global Regenerative Medicine Market.