10 March 2023
Visiongain has published a new report entitled Regenerative Medicine Market Report 2023-2033: Forecasts by Product (Cell Therapy (Autologous, Allogenic), Tissue Engineering (Scaffold, Hydrogels), Gene Therapy, Others), by Application (Oncology, Dermatology, Musculoskeletal, Neurology, Cardiovascular, Wound Healing, Ophthalmology, Others) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Impact and Recovery Pattern Analysis.
The Regenerative Medicine Market was valued at US$ 50.37 billion in 2022 and is projected to grow at a CAGR of 18.40% during the forecast period 2023-2033.
Favourable regulatory scenario will propel business growth
The regulatory approvals, improvements in standards, will drive the growth rate of regenerative medicine market across the globe. In September 2022, China released the world's first global standards on stem cell research, making the country an acknowledged pioneer in this cutting-edge field that has the potential to revolutionise medicine. There are many standards and recommendations for developing and using both mouse and human pluripotent stem cells are included in the ISO 24603 publication. The increasing level of research and development effort in the treatment of muscular problems is anticipated to drive revenue growth in the regenerative medicines market. Novel innovative tools such as stem cells promotes the healing response of sick, malfunctioning, or injured tissue. Regenerative medicine along with cellular treatment will open new treatment options to restore the diseased state of the patients.
How has COVID-19 had a moderately positive impact on the Regenerative Medicine Market?
The COVID-19 pandemic has had a major effect on the market for regenerative medicine in a number of ways, such as clinical trial disruption, shortage of raw materials, and halt in supply chains. Manufacturing continues to be a factor that restricts the rate of cell and gene therapy output. It's critical to find solutions to manufacturing process bottlenecks in order to maintain business operations and boost resilience to deal with potential disruptions. Although increasing the capacity to produce viral vectors is the long-term solution, the companies operating in regenerative medicine should focus on strategic alliances with important raw material and viral vector suppliers or find and evaluate up to three bidders early on in the development process rather than reliance on just one.
How will this Report Benefit you?
Visiongain’s 232-page report provides 101 tables and 108 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the Regenerative Medicine Market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Regenerative Medicine Market. Get financial analysis of the overall market and different segments including type, process, upstream, downstream, and company size and capture higher market share. We believe that there are strong opportunities in this fast-growing Regenerative Medicine Market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the Current Market Drivers?
Rising Efforts from Public and Private Associations
The development of regenerative medicine technology will be accelerated by government assistance and the opening of new research facilities to increase R&D activity by industry participants. The Japan Agency for Medical Research and Development (AMED) and UK Medical Research Council (MRC) have entered into collaboration to support the clinical stage development of effective regenerative medicine-based therapies for several disorders, including rare diseases, Parkinson’s disease among others. Similarly The Fraunhofer Institute for Cell Therapy and Immunology (IZI), Germany has partnered with Canadian research institutions to develop new automation strategies for manufacturing cell therapy products, point-of-care diagnostic systems and innovative biomaterials for biomedical applications.
In order to further encourage collaboration between international agencies, a number of pharmaceutical businesses are also working with other academic institutional and other industry participants. The pharmaceutical firms are utilising R&D and innovation from other stakeholders such as academic institutions, etc. and to fuel development activities and raise the number of regulatory approvals in the future.
Growing research in the field of stem cell and gene therapies
The rising research in the field of stem cell and gene therapies is bolstering the growth of the market. For instance, a novel gene treatment that can extend mice's lives and treat some of the effects of ageing was developed in January 2021 by researchers in Beijing. These findings might one day be applied to develop a similar human treatment. Deactivating a gene known as kat7, which scientists have identified as a key contributor to cellular ageing, is the key component of the approach, which was disclosed in a study published in the Science Translational Medicine Journal.
Where are the Market Opportunities?
Increasing Clinical Trials in Gene Therapy Sector
Regulatory agencies across the globe are optimistic about the potential of regenerative medicines. They have been more than willing to support the development of new and innovative treatment options in the regenerative medicine market space. For instance, Asklepios BioPharmaceutical, Inc., was successful in getting an approval from regulatory agencies to conduct a Phase I/II trials for its novel gene therapy candidate, BV-101 for the management of Huntington's Disease (HD). The company was also granted approval from the French national drug approval body after getting a permission from the Ethics Committee
Rising awareness about the applications of regenerative medicine
The rising awareness related to regenerative medicine sectors is pushing the preference rate to a high level. For instance, in January 2020, Anemocyte, a forward-thinking Italian company focused on non-viral gene modification methods in the sector of stem cell therapies, participated in Phacilitate Leaders World, one of the most important gatherings for companies, professionals, as well as investors in the advanced therapy sector. Such initiative has raised the level of awareness about the cell therapies, gene therapies and other applications of regenerative medicines.
The major players operating in the regenerative medicine market are Aspect Biosystems, Integra LifeSciences Corporation, Amgen, Inc., AstraZeneca, Medtronic plc, Novartis AG, MiMedx Group, Smith & Nephew plc, Baxter, Shenzhen SibionoGeneTech Co., Ltd., among others.
The major industry participants are engaged in driving innovation through R&D investments, strategic collaborations, mergers and acquisitions and building a competitive advantage in the market.
• Sysmex Corporation with JCR Pharmaceuticals Co., Ltd. established a joint venture in October 2022 with the goal of conducting research and development, manufacturing, and commercialization of regenerative medicine products, comprising hematopoietic stem cells and other stem cells
• Through its Telethon fund, the start-up financing company Sofinnova Partners made investments in Borea Therapeutics, AAVantgarde Bio, and Alia Therapeutics in July 2021. To help with the development of medications for rare genetic illnesses, the three businesses divided a maximum of Euro six million in start-up funding.
Notes for Editors
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