SEATTLE, April 22, 2020 (GLOBE NEWSWIRE) -- Regenerative therapy involves replacing, engineering or regenerating human or animal cells for the treatment of various diseases. It finds application in soft tissue repair and the treatment of cardiovascular, dental, orthopedic, and central nervous system (CNS) diseases.
Statistics:
The global regenerative therapies market is estimated to account for US$ 45,940.7 Mn in terms of value by the end of 2027.
Global Regenerative Therapies Market: Drivers
Increasing funding R&D in regenerative therapies is expected to propel growth of the global regenerative therapies market over the forecast period. For instance, in April 2020, Cellphire, Inc., a developer of cell stabilization technology for application in targeted drug delivery and regenerative medicine, received US$ 33.3 million contract from the Biomedical Advanced Research and Development Authority of the U.S. Department of Health and Human Services, to support Cellphire's next generation platelet-based hemostatic products.
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Moreover, increasing waiting list for organ transplant is also expected to aid in growth of the market. For instance, according to the U.S. Government Information on Organ Donation and Transplantation, over 112,000 patients are on the national transplant waiting list as of March 2020.
Market Opportunities
R&D in regenerative therapies is expected to offer lucrative growth opportunities for players in the global regenerative therapies market. For instance, in April 2020, researchers from University of Teramo, Italy, reported assessing whether endocannabinoid system is involved in tuning the constitutive and lipopolysaccharide-induced ovine amniotic epithelial cells anti-inflammatory and pro-inflammatory interleukin profiles.
Players in the market can also focus on adopting nanotechnology in development of novel regenerative therapies. Silver nanoparticle-coated porous titanium implants have shown effective bone formation and osseointegration in several studies.
Market Restraints
Recall of products is expected to hinder growth of the market. For instance, in October 2018, Liveyon, the U.S.-based company, was issues U.S. FDA recall for its Liveyon ReGen product series, owing to adverse reactions.
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Key Takeaways:
The global regenerative therapies market was valued at US$ 10,421.5 Mn in 2019 and is forecast to reach US$ 45,940.7 Mn by 2027 at a CAGR of 20% between 2020 and 2027. Increasing funding R&D in regenerative therapies is expected to propel growth of the global regenerative therapies market over the forecast period.
Allograft segment held dominant position in the global regenerative therapies market in 2019, accounting for 57.7% share in terms of value, followed by xenograft and alloplast, respectively. Increasing use of allograft as a biological regenerative material is expected to propel the growth of the segment.
Market Trends/Key Takeaways
Increasing government spending on regenerative therapies is expected to aid in growth of the market. For instance, in March 2018, the U.S. government offered US$ 37 billion for the National Institutes of Health, which includes US$ 10 million in funding for regenerative medicine research.
Cadaver Stem Cells (CSCs) is an innovative option in the near future for regenerative therapies. The isolation of viable and functional CSCs from humans even after several days of post-mortem is possible today. Many sites of cadaver donors could be suitable for CSCs obtention. Heparinized cadaveric multiple organ donors are an important source of organs and tissue for transplant therapies.
Global Regenerative Therapies Market: Competitive Landscape
Major players operating in the global regenerative therapies market include, Shire Pharmaceuticals, Kinetic Concepts, Inc., Mesoblast Ltd., Nuo Therapeutics (Cytomedix Inc.), Advanced Cell Technology, Inc., BioStem Life Sciences, Akron Biotechnology, LLC, Organovo Holdings Inc., Orgenesis Inc., Pluristem Therapeutics Inc., Genzyme, Athersys, Inc., RenovaCare, Inc., and Cytori Therapeutics, Inc.
Global Regenerative Therapies Market: Key Developments
January 2020: Akron Biotechnology published a white paper proposing a new pragmatic, unified and staged approach for the qualification of ancillary materials for the manufacture of Advanced Therapy Medicinal Products
December 2019: Pluristem Therapeutics Inc. enrolled 75% of the 246 patients planned for its Phase III clinical study of PLX-PAD in the treatment of Critical Limb Ischemia
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Market segments:
- By Tissue Type
- Allograft
- Xenograft
- Alloplast
- By Application
- Soft Tissue Repair
- Cardiovascular
- Dental
- Orthopedic
- CNS disease treatment
- Others
- By End User
- Hospitals
- Ambulatory Surgical Centers
- Educational Institutes
- By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East
- Africa