Global Regenerative Medicine Market Size and Share Analysis 2023-2028


Market Overview

The Global Regenerative Medicine Market is projected to experience substantial growth, with the market size expected to increase from USD 31,037 million in 2023 to USD 92,951 million by 2028. This represents a compound annual growth rate (CAGR) of 24.53% during the forecast period of 2023-2028.

The COVID-19 pandemic is anticipated to have a significant impact on the regenerative medicine market. The increasing number of COVID-19 cases worldwide has positively influenced the market, as mesenchymal stem cells have been identified as a safe and effective treatment approach for COVID-19. A research article published in the scientific journal Aging and Disease titled ‘Mesenchymal Stem Cell Therapy for COVID-19: Present or Future’ supports this claim. In early 2020, more than 10 projects utilizing stem cells to treat patients with coronavirus pneumonia were registered in the official international registry for clinical trials. However, these studies are still in the initial stages. In May 2020, the Global Institute of Stem Cell Therapy and Research (GIOSTAR) received approval for a COVID-19 clinical trial using stem cells. Additionally, the Ministry of Economy in the United Arab Emirates was granted a patent in May 2020 for the development of promising stem cell therapy for COVID-19 treatment. These advancements in stem cell research related to COVID-19 are expected to drive the demand and growth of the regenerative medicine market.

Product Type

Market Report

No. of Pages

153

Release Date

April 2023

Base Year

2022

Forecast Period

2023-2028

Market Size

USD 25.5 billion in 2021

Market Segments

Type of Technology, Application, and Geography

Region

Global

No. of Companies Mentioned

10


The growth of the global regenerative medicine market can be attributed to several key factors. Firstly, there is increasing adoption of stem cell technologies, gene therapies, and tissue engineering. Secondly, advancements in regenerative medicine technology are driving market growth. Moreover, government initiatives and clinical trials associated with stem cell research are promoting the expansion of the regenerative medicine market. For example, the Indian Council of Medical Research (ICMR) released the National Guidelines for Stem Cell Research (NGSCR) in February 2022, which aligns with international guidelines. The Indian government has supported ethical and scientific stem cell research through these guidelines, and the Department of Biotechnology (DBT) has provided funding for various projects in stem cell research. Similar initiatives have been taken by governments in Australia, Canada, and California to support and fund stem cell research and therapy development.

As of August 26th, 2022, there were 1,868 clinical trials of stem cell therapy registered, with 82 studies specifically focusing on regenerative medicines. This indicates a growing demand for stem cell-based products and regenerative medicines in the market. These clinical trials are predominantly taking place in the United States, Europe, and China, with increasing support from Canada, the Middle East, and Australia. Various universities, research centers, and companies are primarily targeting indications such as acute lymphoblastic leukemia (ALL), acute megakaryoblastic leukemia (AML), and acute graft versus host disease (AGHD). It is expected that the success rate of these initiatives will gradually increase over the forecast period, driving the growth of the regenerative medicine market.


Market Segmentation

The market is segmented based on various factors, including type of technology, application, and geography.

Segmentation by Type of Technology
Stem Cell Therapy
Biomaterial
Tissue Engineering
Other Types of Technologies

Segmentation by Application
Bone Graft Substitutes
Osteoarticular Diseases
Dermatology
Cardiovascular
Central Nervous System
Other Applications

Segmentation by Geography
North America – United States, Canada, Mexico, and Rest of North America
Europe – United Kingdom, Germany, France, Italy, Spain, Russia, and Rest of Europe
Asia-Pacific – China, Japan, India, Australia, South Korea, and Rest of Asia-Pacific
Latin America – Brazil, Argentina, and Rest of Latin America
Middle East and Africa – South Africa, GCC, and Rest of Middle East and Africa

Stem Cell Therapy is projected to be the largest segment in terms of technology during the forecast period. In the field of the central nervous system, there has been significant research using stem cells to address various neurological conditions. Human blood and bone marrow stem cells have been extensively used to isolate hematopoietic stem cells (HSCs) for regenerative medicine. Adult stem cells have gained renewed interest as a potential source of undifferentiated stem cells for various applications.

Research on adult stem cells has been driven by their ability to divide indefinitely and generate all cell types of the organ they originate from, potentially regenerating the entire organ from just a few cells. Unlike embryonic stem cells, the production of adult stem cells does not require the destruction of an embryo. Stem cell research has received considerable attention and has been extensively studied in the medical field. Collaborations such as the one between ExCellThera Inc. and Ossium Health, which aims to use adult stem cells from deceased donors, are expected to boost market growth.

Major market players are focusing on strategic initiatives such as product launches and mergers and acquisitions to expand their presence in the market. For example, BioCardia’s Covid-19 stem cell therapy trial was approved by the US Food and Drug Administration in April 2022. Century Therapeutics and Bristol Myers Squibb announced a research collaboration and license agreement in October 2022 to develop stem cell-derived programs for hematologic malignancies and solid tumors. Cipla Limited’s partner, Stempeutics Research Pvt. Ltd, received regulatory approval in August 2020 for the launch of Stempeucel in India, which is indicated for the treatment of certain diseases. These developments in stem cell therapy are expected to drive growth in the market.

North America currently holds the largest market share and is expected to maintain this trend during the forecast period. This can be attributed to the presence of major players, rapid technological advancements, and significant investments in stem cell and oncology research. The United States, in particular, is the largest market in the region. The increasing prevalence of diseases such as cancer and diabetes that can be treated with stem cell therapies contributes to the market’s growth. Furthermore, regenerative medicine has been identified as the next evolution of medical treatments by the United States Department of Health and Human Services, indicating its potential to revolutionize healthcare. The rising popularity and demand for stem cell therapy are expected to drive the market in the region.

The burden of chronic diseases also presents opportunities for market players. Major companies are focusing on research and development activities to introduce new stem cell therapies and promote the growth of regenerative medicines. For example, researchers have identified two drug candidates that may slow down dry age-related macular degeneration using a stem-cell-derived model. The outbreak of COVID-19 has also contributed to the growth of the regenerative medicine market, as research efforts are being directed towards developing therapeutics for the disease. However, such research is still in the initial stage. These factors, along with the mentioned developments, are expected to drive market growth in the region during the forecast period.


Competitive Landscape

The global regenerative medicine market is characterized by intense competition. Notably, small-scale companies are actively engaging in mergers with larger counterparts to collaborate on the development of tissue models for research and therapeutic applications. Consequently, companies across the industry are making significant investments in innovative technologies, thereby propelling market growth. Furthermore, it is anticipated that additional players will enter the market in the forthcoming years. Currently, AbbVie Inc., Osiris Therapeutics (Smith & Nephew), Integra Lifesciences, Cook Biotech Incorporated, Organogenesis Inc., and Baxter International, among others, hold prominent positions within the market.

Key companies profiled in this report include Cook Biotech Incorporated, Organogenesis Inc., Baxter International, Medtronic Plc, Thermo Fisher Scientific, Merck KgaA, Becton Dickinson and Company, Novartis AG, Smith & Nephew, AbbVie Inc.


Recent Industry Developments

Autolus Therapeutics plc made an announcement in April 2022 regarding the Regenerative Medicine Advanced Therapy (RMAT) designation granted by the U.S. Food and Drug Administration (FDA) to its leading gene therapy, obecabatagene autoleucel. This therapy is a CD19-directed autologous chimeric antigen receptor T (CAR-T) therapy and is currently being investigated in the ongoing FELIX Phase 2 study focused on Leukemia.

In June 2021, the launch of the RegeneratOR Test Bed took place with the objective of bringing together various resources to advance the field of regenerative medicine in the United States. This initiative aims to foster collaboration and innovation, facilitating the development and progress of regenerative medicine within the country.


Key Questions Answered

What is the duration of the study period for the Global Regenerative Medicine Market?
The Global Regenerative Medicine Market has been studied from 2018 to 2028.

What is the growth rate of the Global Regenerative Medicine Market?
The Global Regenerative Medicine Market is projected to grow at a compound annual growth rate (CAGR) of 24.53% over the next five years.

What is the size of the Global Regenerative Medicine Market?
The Global Regenerative Medicine Market is expected to reach USD 31,037 million in 2023 and is projected to grow at a CAGR of 24.53% to reach USD 92,951 million by 2028.

Which region has the highest growth rate in the Global Regenerative Medicine Market?
Asia Pacific is experiencing the highest CAGR from 2018 to 2028 in the Global Regenerative Medicine Market.

Which region has the largest market share in the Global Regenerative Medicine Market?
As of 2021, North America holds the highest market share in the Global Regenerative Medicine Market.

Who are the key players in the Global Regenerative Medicine Market?
The major companies operating in the Global Regenerative Medicine Market include Organogenesis Inc., Cook Biotech Incorporated, AbbVie Inc., Osiris Therapeutics Inc. (Smith & Nephew), and Integra Lifesciences.

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