The global regenerative medicine market size is expected to reach USD 90.01 billion by 2030, expanding at a CAGR of 16.79% from 2024 to 2030, according to a new report by Grand View Research, Inc. The presence of a strong pipeline is one of the major drivers in the regenerative medicine market. Companies invest heavily in R&D to upgrade their products with the latest technology and fulfil the unmet needs of their customers.
Furthermore, with the increasing demand for disease treatment therapies, companies have focused their efforts to accelerate R&D for gene therapies that target the cause of disease at a genomic level. The cell and gene therapies in the U.S. pipeline programs (Phase I-III trials) grew from 289 in 2018 to 362 by 2019 according to the data published by PhRMA,. This represents an increase of 25% in a single year. Continuous advancements in this field would further boost the demand for regenerative medicines.
Technological advancements such as stem cells, tissue engineering, and nanotechnology has made regenerative medicines a highly interdisciplinary in field. Stem cells are undifferentiated cells, which have the capability to repair and/or regenerate into other cells such as cartilage, tendons, ligaments, muscle, and bones. In July 2021, BlueRock Therapeutics received FDA approval for its pluripotent stem cell-derived dopaminergic neuron therapy, DA01, for advanced Parkinson’s disease treatment. This approval was expected to expand the company’s offerings.
Several key players are taking strategic initiatives such as new product development, strategic alliances, and others have contributed to the regenerative medicine market growth. For instance, in November 2021, Astellas Pharma, Inc. entered into an agreement with Pantherna Therapeutics GmbH to study mRNA-based regenerative medicine. Under this initiative, Astellas’ high drug discovery capabilities and Pantherna’s state-of-the-art mRNA platform will be used to promote research on developing a new program. In addition, in May 2021, Bayer AG entered into a collaboration with Senti Bio for gene circuit-engineered cell therapies development for regenerative medicine.
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Regenerative Medicine Market Report Highlights
- The therapeutics segment held the largest share in the regenerative medicine market, owing to the growing aging population coupled with an increasing rate of age-related disorders.
- The rise in a number of clinical trials for stem cell and tissue-based regenerative therapies along with an increase in demand for regenerative therapies is expected to positively influence the growth of the market.
- Stem cell and progenitor cell-based therapies are projected to witness significant growth owing to huge investments in the R&D space and a growing number of stem cell banks
- North America dominated the market in 2023 owing to the presence of a significant number of research organizations and universities which are working on R&D of stem cell-based therapies.
- Asia Pacific is anticipated to witness the fastest growth in the coming years owing to the rapid adoption of cell-based methods in the healthcare industry.
- By therapeutic category, the oncology segment dominated the segment in 2023 owing to the increasing cases of cancer globally which is rising the demand for better solutions. The growing number of robust pipelines is driving the market growth.
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We have segmented the global Regenerative Medicine market on the basis product, therapeutic category, and region:
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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