Regenerative Medicine Market Technology Trends, Growth Analysis, New Strategies And Solution, Key Companies, Service, Component, Application and End User to Forecast By 2026
Global Regenerative Medicine Market
Regenerative medicine is a branch of medicine that develops method to repair, regrow, and replace damaged or diseased organs, cells, and tissues. Regenerative medicine uses therapeutic stem cells, tissue engineering, and production of artificial organs. Various studies have shown that regenerative medicines can be useful in treating both chronic and acute disorders in terms various context of abnormalities such as cardiovascular diseases, dermal wounds, and in treatment of certain types of cancer. Furthermore, the current therapy of organ and tissue transplantation for treating organ and tissue failures is risky and can result in patient death due to limited or no donor supply. In fact, it often results in severe complications in immune system. Thus, regenerative medicine can be a major breakthrough in such cases where it alleviates such issues to a major extent.
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Key manufacturers of regenerative medicine are making use of different materials in the preparation that can offer better results and newly generated cells or with the combination of both, in turn replacing the missing tissue and effectively serving its functions. The inherent healing response of the human body can also be favored to support the regenerating activities. However, age of patient is a major factor that can affect the regeneration of the desired part, as the body’s ability to regenerate is low among adults as compared to young population or lower vertebrates. Researchers are adopting various materials in regeneration activities, as they form the basis of growth and replacement, as they can mimic the native extracellular matrix (ECM) of tissues.
Global Regenerative medicine market taxonomy:
- Tissue Engineering
- Stem Cell Therapy
By Product Type
- Cell-based products
- Acellular products
- Orthopedic & Musculoskeletal Disorders
- Central Nervous System Disorders
- Algae Derived Alginate
- Synthetic Polymer
- poly-ethylene glycol
By Agent Type
- Autologous fibroblasts
- Hematopoietic stem and progenitor cells
- Cell-based medical devices
- Allogenic fibroblasts
- Cell extraction
- Tri-calcium Phosphate
- Osteogenic Protein
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Increasing number of bone and joint surgeries to fuel growth of the global regenerative medicine market:
Increasing number of trauma cases worldwide is expected to propel growth of the global regenerative medicine market during the forecast period. Generally, in case of trauma and severe injury, various types of prosthetics and implants are used to enhance the human body movement. However, younger population finds these implants unappealing and hence are inclined towards non-obtrusive options that do not drastically alter their physical appearance and activities. Regenerative medicine offers a viable alternative to such conventional methods and also reduces risk of deformity.
Market Dynamics- Restraints
Regenerative medicine is significantly expensive as compared to conventional methods of treatment. Furthermore, this treatment option is hardly effective for treatment of the geriatric population. Thus, these factors are expected to restrain growth of the global regenerative medicine market in the near future. According to University of California, Los Angeles (UCLA) Department of Orthopedic Surgery, in 2015, around 7,515 orthopedic surgeries were conducted in the U.S. by the department from July 2014 to June 2015. This number is expected to rise due to rise in number of orthopedic trauma cases in the region, which is further projected to favor growth of the regenerative medicine market in the near future.
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Developed regions major growth engines of the global regenerative medicine market
Among regions, developed countries such as the U.S., Germany, U.K., France, and Japan are expected to contribute for major share, owing to technical advancements in respective regions. According to Regenerative Medicine Annual Report, in 2013, in regenerative medicine market there has been various product approvals along with annual revenue of around US$ 1 billion. Thus, these sectors are expected to attract attention from investors and industry partners in the near future. Furthermore, as per the report, around 60,000 stem cell transplants are performed globally each year to treat various cancers and blood-based disorders. This augments growth of the market of regenerative medicine. Also, as observed by Alliance for Regenerative Medicine (ARM), in 2012, the bio-therapeutic companies distributing cell therapy products generated around US$ 900 million, with 160,000 patients undergoing various related treatments.
Major acquisitions to support growth of the global regenerative medicine market
Key companies in the market are focused on various growth strategies such as mergers and acquisition, in order to enhance their market presence. For instance, in August 2016, Medtronic Inc. acquired Heart Ware International, Inc. — a provider of technologies for less-invasive, miniaturized, mechanical circulatory support (MCS) for treatment of patients with advanced heart failure. This acquisition is further expected to favor the working efficiency of the company and broadens its product portfolio.
Key players operating in the regenerative medicine market include Depuy Synthes, Inc., Orthofix, Inc., NuVasive, Inc. and Zimmer Holdings, Inc.
- Key players in the market are adopting various business strategies such as product launches, in order to expand their product portfolio and gain competitive edge in the market. For instance, in March 2019, Fidia Pharma USA Inc., a pharmaceutical company, launched NuDYN product, which is a regenerative medicine. This is company’s product in first regenerative medicine category.
- Major companies in the market are involved in various business strategies business and capacity expansion, in order to enhance the global market presence. For instance, in May 2019, CollPlant, a regenerative medicine company, launched a new headquarter and research and development center Israel. The new R&D facility will serve COllPlant for development its product pipeline such as Biolinks for 3D bioprinting of organs and tissues.
- Regulatory authorities and government organizations are focused on launching various programs, in order to boost growth of global regenerative medicine market. For instance, in January 2017, the U.S. Food and Drug Administration (FDA) launched a new designation program for regenerative medicine therapies. This ‘Regenerative Medicine Therapy (RMAT) Designation’ program will foster the approval and development of regenerative medicine products.
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