Research Nester published a report titled “Regenerative Medicine Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global regenerative medicine market in terms of market segmentation by therapy, material, application, end user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global regenerative medicine market is anticipated to grow with a CAGR of 16.43% during the forecast period, i.e., 2021-2029. The market is segmented by therapy into cell therapy, gene therapy, tissue engineering, small molecule & biologic, and others, out of which, the cell therapy segment is expected to hold the largest market share throughout the forecast period. The segment, which registered a revenue of USD 19,608.88 Million in 2020, is further expected to attain a revenue of USD 100,165 Million by the end of 2029. The market is also segmented on the basis of material into synthetic material, biologically derived material, genetically engineered material, and others. Amongst these segments, the biologically derived material segment is expected to hold the largest market share throughout the forecast period and further grow with the highest CAGR of 17.52% during the forecast period. The segment is also expected to register the largest revenue of USD 76715 Million by the end of 2029.
The global regenerative medicine market is estimated to garner USD 167,500.0 Million by the end of 2029, up from USD 34,270.0 Million in 2020. Growing concern for the rising incidences of chronic diseases, which is raising the need for advanced medical treatments, such as the use of regenerative medicines, is one of the major factors expected to contribute to the market growth. Based on region, the market is segmented into five major regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The North America regenerative medicine market is expected to grow significantly during the forecast period and garner a revenue of USD 69,194.25 Million in 2029. Amongst the countries in North America, the market in the U.S. is anticipated to grab the largest market share of 84.78% by the end of 2029, backed by the strong healthcare infrastructure in the country, increasing healthcare expenditure, and for the presence of numerous players operating in the field of regenerative medicines.
Growing Incidences of Diseases to Boost Market Growth
The World Health Organization (WHO), in one of its statistics, stated that 23.4% of the global cancer cases and 20.3% of the cancer deaths were registered in Europe in the year 2018. In America, 21% of the population had cancer and deaths due to cancer was registered to be 14.4% in the same year. On the other hand, the International Diabetes Federation, in one of its statistics, stated that in the year 2019, deaths caused due to diabetes around the globe was registered to 4.2 Million.
Backed by the rising incidences of different types of diseases globally, there is a growing need for qualitative medical treatment amongst individuals worldwide. With the growing advancements in the field of healthcare, healthcare practitioners are increasingly preferring regenerative medicines for the treatment of such chronic diseases, which in turn is expected to drive the market growth. Moreover, rising healthcare expenditure, followed by the supporting initiatives of the government of nations worldwide, and the rising geriatric population, are some of the additional factors expected to create numerous opportunities for market growth.
However, the high cost of treatment among lower-income people in developing countries is estimated to play as the key factor in limiting the growth of the global regenerative medicine market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global regenerative medicine market which includes company profiling of Amgen Inc., Novartis AG, Medtronic Plc., Stryker Corporation, CryoLife, Inc., Integra LifeSciences Corporation, 3M Company, AbbVie Inc., Zimmer Biomet, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global regenerative medicine market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.