Regenerative Medicine Market Size To Hit USD 174.72 Bn By 2032

The global regenerative medicine market size was valued at USD 29.42 billion in 2023 and it is predicted to hit around USD 174.72 billion by 2032 with a remarkable CAGR of 22.8% from 2023 to 2032.

Key Points

North America region hit revenue share of over 49.3% in 2022.
By product, the cell therapy segment garnered highest revenue share of around 57.7% in 2022.
Tissue engineering product segment accounted 28.3% revenue share in 2022.
By therapeutic category, the oncology segment captured revenue share of over 32% in 2022.

The discovery of medicines that can regenerate tissues and reduce dependency on transplants is motivated by the loss of organs and tissues due to disorder or organ damage. The regenerative medicine is an interdisciplinary field that uses engineering and life science principles to stimulate regeneration in damaged or wounded organs and tissues.

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One of the major factors driving the regenerative medicine market growth is the rising prevalence of genetic and chronic disorders. In addition, the growing geriatric population, which is prone to cardiological and oncological problems, is driving the market expansion. As a result, increased organ transplantation acceptance is also contributing the regenerative medicine market growth. The regenerative medicine reduces the chances of the body rejecting the organ after transplantation and speeds up the patient’s recovery. Other factors such as substantial medical research and development efforts and improved healthcare infrastructure, are expected to fuel the market growth.

Report Highlights

Based on the product, the therapeutics segment dominated the global regenerative medicine market in 2021 with highest market share 57%. The primary cell-based therapies are the most developed medicines accessible in the therapeutics sector, owing to their use for a variety of therapeutic purposes.
Based on the application, the musculoskeletal segment is estimated to be the most opportunistic segment during the forecast period. This is due to the rising frequency of orthopedic diseases, the growing number of clinical trials, the rising number of stem cell research projects, and the extensive supply of stem cell products for the treatment of musculoskeletal problems.
North America accounted largest revenue share of over 41% in 2021. The large number of clinical trials in the North America is due to the presence of a significant number of leading market players in the U.S., as well as the presence of research organizations involved in the development of novel treatments and the availability of modern technology.
Asia-Pacific region is the fastest growing region in the regenerative medicine market. The regulatory framework has boosted the number of clinical trials for cell-based and regenerative medicines. As a result, the region’s regenerative medicine market has grown. The other factors impacting the growth of the global regenerative medicine market in the Asia-Pacific region include increasing medical demands, rising ageing population, and changing lifestyles.

Table of Contents

Report Scope of the Regenerative Medicine Market

Report Highlights	Details
Market Size	USD 174.72 Billion by 2032
Growth Rate	CAGR of 16.2% from 2023 to 2032
Largest Market	North America
Fastest Growing Market	Asia Pacific
Base Year	2022
Forecast Period	2023 to 2032
Segments Covered	By Product, By Material, By Application, By End User, and Region

Regenerative Medicine Market Dynamics

Drivers

Growing geriatric population

The elderly or senior population is rapidly increasing. According to the World Health Organization (WHO), the number of people aged 65 and up is expected to increase by around 1.5 billion by 2050. In developing countries such as China, Japan, India, and South Korea, the figure is expected to rise. Cancer, diabetes, high blood pressure, and blood sugar levels are just a few of the health issues that the geriatric population faces. They need to be more cautious about their health. As a result, they require medications at regular intervals. As a result, during the forecast period, the growing geriatric population will drive the growth of the regenerative medicine market.

Restraints

High cost of therapies

For patients suffering from terminal illnesses and major ailments, gene and cell therapies are a tremendous achievement in the field of medical. These treatments are assisting in the transformation of how diseases are treated and cured. Despite the fact that these therapies are extremely helpful in saving lives, the demand for these therapies is lower than anticipated. This is due to the high prices of these therapies, which is restricting the market growth.

Opportunities

Increasing product acceptance for cancer immunotherapy

Cancer is caused by the transformation of normal cells into tumor cells over the course of a multi-stage process that typically begins with a precancerous lesion and progresses to a malignant tumor. These changes are caused by the interaction of a person’s hereditary factors. Cancer is the leading cause of death worldwide, accounting for roughly 10 million deaths by 2020. Because each type of cancer requires a unique treatment plan, a correct cancer diagnosis is critical for appropriate and effective treatment. Chemotherapy, radiotherapy, and surgery are common cancer treatments. Cancer immunotherapy using regenerative medicine has the advantage of being able to target and eliminate disease cells because of the inherent ability of hematopoietic stem or more mature cells. It also allows for a better understanding of cancer cells, which aids in the development of effective treatments. As a result, rising product demand for cancer treatment, combined with rising disease prevalence, will create opportunities for the market expansion.

Challenges

Stringent government regulations

The use of regenerative medicine in many developed and developing regions requires government approval. The regenerative medicine products require Food and Drug Administration (FDA) license or approval for marketing and sales. Thus, the stringent government regulations are biggest challenge for the growth of the market.

Top Players contending in the Market:

The companies focusing on research and development are expected to lead the global regenerative medicine market. Leading competitors contending in global regenerative medicine market are as follows:

Integra LifeSciences Corporation
Aspect Biosystems
Amgen, Inc.
Medtronic plc
AstraZeneca
Novartis AG
Smith & Nephew plc
MiMedx Group
Shenzhen SibionoGeneTech Co., Ltd.
Baxter

In order to better recognize the current status of regenerative medicine, and policies adopted by the foremost countries, Precedence Research predicted the future evolution of the regenerative medicine market. This research study bids qualitative and quantitative insights on regenerative medicine market and assessment of market size and growth trend for potential market segments.

Major Market Segments Covered:

By Product

Gene Therapies
Cell Therapies
Tissue-Engineering
Small Molecules & Biologics

By Material

Synthetic material
- Biodegradable synthetic polymers
- Scaffold
- Artificial Vascular Graft
- Materials Hydrogel Material
Biologically derived material
- Collagen
- Xenogeneic material
Genetically Engineered Material
- Deoxyribonucleic Acid Transfection Vectors
- Genetically Manipulated Cell
- Three-Dimensional Polymer Technology
- Transgenics
- Fibroblast
- Neural Stem Cell
- Gene-Activated Matrices
Pharmaceutical
- Biologics
- Small Molecules

By Application

Wound Care
Musculoskeletal
Ophthalmology
Oncology
Cardiovascular
Dermatology
Neurology
Others

By End User

Hospitals & Clinics
Commercial Industries
Government & Academic Research Institutes

By Geography

North America
- U.S.
- Canada
Europe
- Germany
- France
- United Kingdom
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of Middle East & Africa