Selbyville, Delaware, Aug. 30, 2021 (GLOBE NEWSWIRE) --
According to latest report “Regenerative Medicine Market by Type (Cell Therapy, Tissue Engineering, Gene Therapy), Application (Oncology, Dermatology, Musculoskeletal, Neurology, Cardiovascular, Wound Healing, Ophthalmology), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights Inc., the market valuation of regenerative medicine will cross $125 billion by 2027. Development of stem cells and tissue engineering products coupled with emergence of gene therapy will boost the overall market growth.
Growing prevalence of chronic diseases and genetic diseases globally is anticipated to foster the market expansion in the coming years. According to the estimates of the National Health Council, around 157 million Americans were suffering from some form of chronic disease in 2020; majorly of people suffer from cancer, diabetes, orthopedic diseases, and others. Furthermore, significant advancements in the field of tissue engineering, gene-modified cell therapy, cell therapy, and gene therapy are also adding growth to the market. Thus, rising number of late-stage clinical trials coupled with the increasing number of approved therapies will stimulate the demand for regenerative medicine.
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Industry players and government organizations are actively involved in the research and development of regenerative medicine. For instance, in October 2020, the Government of Canada announced an investment of more than USD 20 million to support advances in regenerative medicine and stem cell. Moreover, the active participation of industry leaders in the development of regenerative medicine is also positively impacting the market progression.
The gene therapy segment in the regenerative medicine market was valued at USD 3 billion in 2020. Gene therapy signifies a scientific and medical advancement for patients suffering from terminal illnesses and serious disorders. It enables medical professionals to infuse cells or genes via injectable route to avoid several surgeries and series of drugs in patients. Further, penetration of advanced medicines & procedures and government approval for the use of these therapies are predicted to fuel the industry growth.
Regenerative medicine market for musculoskeletal segment is projected to witness 19.1% growth rate through 2027. Growing prevalence of orthopedic diseases coupled with growing geriatric population is expected to increase the demand for regenerative medicine. Also, increasing development of stem cells and rising number of research activities for the treatment of musculoskeletal disorders will augment the demand for regenerative medicine in the coming years.
Europe regenerative medicine market is poised to expand at more than 18.9% CAGR by 2027 owing to the increasing geriatric population base coupled with the growing prevalence of lifestyle disorders such as diabetes and orthopedic conditions among others. According to the World Health Organization, around 60 million people in Europe are suffering from diabetes.
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Major companies operating in the market include Novartis AG, Integra LifeSciences Corporation, Osiris Therapeutics, Inc, Allergan PLC, Bayer AG, Pfizer, Inc., Merck KGaA, F. Hoffmann-La Roche Ltd, Amgen Inc., among others. Industry leaders are implementing various strategies such as new product launches and are heavily investing in research and development activities to gain competitive advantage for business expansion. The providers are constantly developing new product or therapy.
Table of Contents (ToC) of the report:
Chapter 3 Regenerative Medicine Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016 – 2027 (USD Million)
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls & challenges
3.4 Growth potential analysis
3.4.1 By type
3.4.2 By application
3.5 COVID-19 impact analysis
3.6 Regulatory landscape
3.7 Porter’s analysis
3.8 Competitive landscape, 2020
3.9 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
