According to MarkNtel Advisors study the Global Regenerative Medicine Market size was valued at USD 32 Billion in 2023 and is projected to reach USD 112 Billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 18.5% during the forecast period, i.e., 2024-30.
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Key Findings of the Study: Regenerative Medicine market
Global Regenerative Medicine Market Driver:
Increasing Investments in R&D Activities Leading to Innovative Product Launches – Increasing market investments have spurred extensive research & development endeavors, with numerous investors backing start-up firms dedicated to pioneering new therapies and products. This trend has facilitated notable mergers, research partnerships, and collaborations aimed at leveraging the mutual benefits of R&D activities. For instance:
- In 2022, Belgian biotech company Galapagos announced that it would acquire CellPoint and AboundBio to accelerate the development & commercialization of next-generation cell therapies.
Apart from private players, various governments and government-funded research institutes are actively spending on this industry to introduce effective options for the treatment of various chronic diseases, such as cancer, diabetes, cardiovascular diseases, and others. These strategic partnerships, acquisitions, and government funding initiatives are expected to significantly boost market growth, driving innovation & the development of novel therapies that could potentially transform treatment for various chronic diseases.
Global Regenerative Medicine Market Challenge:
Inadequate Claim Process to Impede Market Growth – The regenerative medicine market growth is hindered primarily by the absence of or inadequate claim process for regenerative treatment. Most stem cell therapies are experimental or investigational drugs or treatments due to which there is limited Medicare insurance coverage leading to a considerable proportion of out-of-pocket payments. It only covers expenses of treatments that have been approved by the FDA, such as allogeneic transplantation. For instance:
- In 2022, as per an article published by DVC Stem, stem cell therapy costs between USD 5,000-USD 50,000 and the cost varies depending on multiple factors, such as the type of stem cell administered, number of cells administered, the quality of cells, source of stem cells, etc.
Hence, the lack of coverage by major insurance providers, forces patients to seek alternative funding methods, like crowdfunding, causing treatment delays, and thus hindering the market growth of regenerative medicine.
For more detailed information about the Regenerative Medicine market report, click here – https://www.marknteladvisors.com/research-library/global-regenerative-medicine-market.html
Scope of the Report and Regenerative Medicine Market Segmentation:
By Product
- Cell Therapy- Market Size & Forecast 2019-2030F, USD Million
- Stem Cell Therapy- Market Size & Forecast 2019-2030F, USD Million
- Cell Transplantation- Market Size & Forecast 2019-2030F, USD Million
- Stem Cell Therapy Products- Market Size & Forecast 2019-2030F, USD Million
- Autologous Therapy- Market Size & Forecast 2019-2030F, USD Million
- Allogenic Therapy- Market Size & Forecast 2019-2030F, USD Million
- Cell-based Immunotherapy- Market Size & Forecast 2019-2030F, USD Million
- Gene Therapy- Market Size & Forecast 2019-2030F, USD Million
- Tissue Engineering- Market Size & Forecast 2019-2030F, USD Million
- Stem Cell Therapy- Market Size & Forecast 2019-2030F, USD Million
By Application
- Oncology- Market Size & Forecast 2019-2030F, USD Million
- Musculoskeletal Disorders- Market Size & Forecast 2019-2030F, USD Million
- Dermatology & Wound Care- Market Size & Forecast 2019-2030F, USD Million
- Cardiovascular Diseases- Market Size & Forecast 2019-2030F, USD Million
- Ophthalmology- Market Size & Forecast 2019-2030F, USD Million
- Neurology- Market Size & Forecast 2019-2030F, USD Million
- Others- Market Size & Forecast 2019-2030F, USD Million
The Oncology segment emerged as the dominant sector within the Regenerative Medicine Market, highlighting its importance within the field.
Regenerative Medicine Market Development:
- 2023: Sarepta and Catalent formed a commercial supply agreement for Catalent to manufacture delandistrigene moxeparvovec (SRP-9001) (ELEVIDYS), Sarpeta’s most advanced gene therapy candidate for the treatment of Duchenne Muscular Dystrophy (DMD).
- 2023: Bristol Myers Squibb was granted approval for ABECMA for patients with relapsed or refractory myeloma with at least 2 prior treatments, including specific medications in Japan.
Geographical Analysis:
By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
North America is projected to hold the highest regenerative medicine market share due to the presence of key industry players, rapid technological advancements, and significant investments in stem cell & oncology research.
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