Regenerative Medicines Market by Therapy (Cell Therapy, Gene Therapy, Immunotherapy, Tissue Engineering), Product (Cell-Based, Acellular), Application (Orthopaedic & Musculoskeletal Spine, Dermatology, Cardiovascular, Central Nervous System), Region - Global Forecast to 2021
The global regenerative medicines market is expected to reach USD 49.41 billion by 2021 from USD 17.06 billion in 2016, at a CAGR of 23.7% during the period of 2016-2021. The global regenerative medicines market is segmented based on product, application, therapy, and region. The cell-based product segment is expected to register the highest growth rate in the regenerative medicines market, by product, during the forecast period. The high growth in this segment is attributed to the variety of products and technologies and rapid increase in the demand of organ transplantation due to which they are most preferred in various applications.
Based on therapy, the regenerative medicines market is segmented into cell therapy, gene therapy, immunotherapy, and tissue engineering. The cell therapy segment is expected to account for the largest share of the market in 2016. Increasing funding from various governments and private organizations for carrying out research and development activities related to various cell therapies, growing inclination of the healthcare industry towards stem cell research, and increasing global awareness regarding the benefits of stem cell therapies will drive the growth of this segment.
By application, the segments are orthopaedic & musculoskeletal spine, dermatology, CNS, cardiovascular, oncology, diabetes, and others where cardiovascular and oncology segments are growing rapidly owing to the increasing cases of cancers and cardiovascular diseases especially in the U.S. Over 60,000 stem cell transplants are performed annually globally for the treatment of oncology.
Geographically, the regenerative medicines market is dominated by North America, followed by Europe, Asia-Pacific, and the Rest of the World (RoW). Growth in the North American segment is primarily driven by rising incidences of cancer, increasing government support, expanding biopharmaceutical industry, and launch of new products in the market.
The major factors contributing to the growth of the regenerative medicines market include rising regulatory approvals for cell culture-based products, increasing funding for cell-based research, and technological advancements. On the other hand, high cost of research and lack of infrastructure, especially in emerging economies, are the major factors restraining the growth of this market.
The major players in this market include Celgene Corporation (U.S.), StemCells, Inc. (U.S.), Corning Incorporated (U.S.), Organogenesis Inc. (U.S.), Acelity (KCI Licensing) (U.S.), Vertex Pharmaceuticals Incorporated (U.S.), among others.
Reasons to Buy the Report:
This report will enable both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help these firms garner greater market shares. Firms purchasing the report can use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on the product portfolios of the top players in the regenerative medicines market.
Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and new product launches in the regenerative medicines market
Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments, and product portfolios of the leading players in the regenerative medicines market
Market Development: Comprehensive information about emerging markets.
Market Diversification: Exhaustive information about untapped geographies, recent developments, and investments in the regenerative medicines market