Regenerative Medicine Market by Type (Cell-Based Immunotherapy & Cell Therapy Products, Tissue-Engineering Products and Gene Therapy Products), Application (Musculoskeletal Disorders, Oncology, Ocular Disorders, Wound Care and Diabetes) - Global Analysis & Forecast 2019-2030
Report ID : 254 | Published Date : Jun 2020 | Pages : 160 | Region : Global | Report Code : BT-28
Regenerative Medicine Market Overview and Introduction
Regenerative medicine can be defined as a field of science which is focused on repair, replacement or regeneration of diseased cells or organs and can help in restoration of normal functioning of these tissues or organs to some level. Regenerative medicine boosts the normal immune system to functionally heal irreparable tissues or organs, or it helps in accelerating the healing process. Regenerative medicine can help cure acute and chronic diseases such as heart disease, stroke, cancer, autoimmune diseases, diabetes, neurological conditions and trauma among other diseases.
The global regenerative medicine market is driven by rising incidences and prevalence of genetic and chronic infectious disorders along with growing clinical trial pipeline of regenerative medicine products. Moreover, increasing private and government funding for R&D of stem cell as well as gene therapies is further anticipated to propel the regenerative medicine market. However, high cost and stringent regulations for approval of regenerative medicine products is likely to restrain the market to a certain extent.
The global regenerative medicine market is segmented by type, application and region.
Regenerative Medicine Market By Type
Based on type, the regenerative medicine market is segmented into cell-based immunotherapy & cell therapy products, tissue-engineering products and gene therapy products. Cell-based immunotherapy & cell therapy products is further bifurcated into allogeneic products & autologous products. Tissue-engineering products is further bifurcated into scaffolds and other tissue engineered products. The cell-based immunotherapy & cell therapy products segment held largest market share in 2018 owing to factors such as increasing R&D on stem cells and increasing awareness among healthcare professionals.
Regenerative Medicine Market By Application
Based on application, the market can be segmented into musculoskeletal disorders, oncology, ocular disorders, wound care, diabetes and other applications. In terms of market share, the segment of the musculoskeletal disorders held largest market share owing to factors such as rising incidences of traumatic muscle injury and musculoskeletal disorders such as osteoarthritis, rheumatoid arthritis, psoriatic arthritis among others disorders.
Regenerative Medicine Market By Region
The global regenerative medicine market can be segmented into North America, Europe, Asia Pacific, and Rest of World (ROW). North America dominated the market of regenerative medicine, followed by Europe and Asia Pacific. North America will continue to dominate the global regenerative medicine market in the forecast period owing to factors such increasing incidences of chronic and genetic disorders, rising awareness related to benefits regenerative medicine and rising R&D for development of therapies. However, Asia Pacific is expected to witness the highest CAGR owing to factors such as increasing prevalence of chronic diseases, favorable government policies, and the rapidly developing healthcare sector.
Regenerative Medicine Market Prominent Players
Some of the prominent players in the global regenerative medicine market include Novartis AG, Integra LifeSciences Corporation, Vericel Corporation, MiMedx, Stryker, Spark Therapeutics, Inc., Osiris Therapeutics, Inc., Kite Pharma, Organogenesis Inc. and MEDIPOST among others.