NEWARK, Del, Oct. 17, 2023 (GLOBE NEWSWIRE) -- The regenerative medicine market is expected to be valued at US$ 73,084.2 million in 2033, up from an estimated US$ 13,385.6 million in 2023. The industry is projected to grow at a rate of 18.5% between 2023 and 2033.
Over the projection period, there will be a greater need for the regenerative medicine industry due to the global increase in the incidence and prevalence of chronic diseases like cancer, diabetes, ulcers, and cardiovascular disease.
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Increasing awareness about regenerative medicines and increasing the ability of people to spend on better treatments are playing a key role in promoting the growth of the industry. The growing aging population and increased demand for regenerative medicine in treating age-related degenerative diseases are driving growth in the industry.
An increase in investment by government organizations in the development of regenerative medicine is a major factor boosting the growth of the global industry during the forecast period. The increasing demand for personalized medicines has led to the development of patient-specific therapies, driving demand in the market.
The growing technological advances in stem cell research, tissue engineering, 3D bio printing, and gene therapy have expanded the possibilities within regenerative medicine. These technologies enable the development of more effective and targeted treatments, attracting investment and driving innovation in the field.
The rising incidences of genetic disorders such as cystic fibrosis and other rare disorders propel the growth of the regenerative medicine market, as these therapies have the potential to address the root causes of rare genetic and inherited disorders.
Key Takeaways:
- From 2017 to 2022, the regenerative medicine industry was valued at a CAGR of 16.2%
- Based on therapy type, tissue engineering segment is expected to account for a share of 43% in 2023.
- Global regenerative medicine demand in Australia is predicted to account for a CAGR of 11.5% through 2033.
- In the United Kingdom regenerative medicine industry is expected to account for a CAGR of 13.2% between 2023 and 2033.
- China is projected to expand by a value CAGR of 27.2% between 2023 and 2033.
- By 2033, the regenerative medicine industry in India is anticipated to record a CAGR of 15.5% during the forecast period.
“The increasing awareness of consumers, growing prevalence of chronic diseases, and rising needs for personalized medicine solutions are anticipated to drive the industry growth during the forecast period," opines Sabyasachi Ghosh, Associate Vice President at Future Market Insights (FMI) analyst.
Regenerative Medicine Market Report Coverage:
| Attributes | Details | ||||
| Estimated Industry Size in 2023 | US$ 13385.6 million | ||||
| Projected Industry Valuation in 2033 | US$ 73084.2 million | ||||
| Value-based CAGR 2023 to 2033 | 18.5% | ||||
| Forecast Period | 2023 to 2033 | ||||
| Historical Data Available for | 2018 to 2022 | ||||
| Industry Analysis | Value in US$ billion | ||||
| Key Regions Covered |
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| Key Industry Segments Covered |
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Competitive Landscape:
The global regenerative medicine industry is highly fragmented due to the presence of several international as well as regional players. Key players in the global industry of regenerative medicine are engaged in regulatory approvals, technologically advanced products, the launch of new products, and acquisition & collaborative agreements with other companies.
- In February 2020, Stryker Corporation acquired Wright Medical to expand its product portfolio.
- In October 2020, Thermo Fisher Scientific, Inc. launched the Gibco CTS Rotea Counterflow Centrifugation System, a closed cell therapy processing system for developing and manufacturing scalable and cost-effective cell therapy.
- Roche has invested in regenerative medicine through its subsidiary Genentech. They have been involved in stem cell research and regenerative approaches for neurological disorders. The company is exploring personalized medicine options using regenerative techniques.
Regenerative Medicine Industry Segmentation:
By Therapy type:
- Cell Therapy
- Autologous Cell Therapy
- Allogenic Cell Therapy
- Stem Cell Therapy
- Allogeneic Stem Cell Therapy
- Autologous Stem Cell Therapy
- Tissue-engineering
- Gene Therapy
By Application:
- Wound Care
- Musculoskeletal
- Oncology
- Dental
- DMD (Duchenne Muscular Dystrophy)
- Hepatological Diseases
- Inflammatory & Autoimmune Diseases
- Other Therapeutic Applications
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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- Tissue Engineered Skin Substitute Market Outlook: The global market was valued at US$ 2.01 Billion in 2021 and is expected to reach US$ 4.13 Billion by 2029, finds Future Market Insights (FMI) in a recent market survey.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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