The global Regenerative Medicine Market size is expected to reach USD 57.08 billion by 2027, growing at a CAGR of 11.27% over the forecast period, according to a new report by Grand View Research, Inc. Recent advancements in biological therapies have resulted in a gradual shift in preference toward personalized medicinal strategies over the conventional treatment approach. This has resulted in rising R&D activities in the regenerative medicine arena for the development of novel regenerative therapies.
Furthermore, advancements in cell biology, genomics
research, and gene-editing technology are anticipated to fuel the growth of the
industry. Stem cell-based regenerative therapies are in clinical trials,
which may help restore damaged specialized cells in many serious and fatal
diseases, such as cancer, Alzheimer’s, neurodegenerative diseases, and spinal
cord injuries. For instance, various research institutes have adopted Human
Embryonic Stem Cells (hESCs) to develop a treatment for Age-related Macular
Degeneration (AMD).
Constant advancements in molecular medicines have led
to the development of gene-based therapy, which utilizes targeted delivery of
DNA as a medicine to fight against various disorders. Gene therapy developments
are high in oncology due to the rising prevalence and genetically driven
pathophysiology of cancer. The steady commercial success of gene therapies is
expected to accelerate the growth of the global market over the forecast
period.
Related Press Release@ Regenerative Medicine Market Report
Regenerative Medicine Market
Report Highlights
- The number of companies engaged in the development of advanced
therapies is continuously increasing over the past few years. This is
anticipated to increase the competition among companies to create a
specific and efficient pipeline
- The therapeutics segment dominated the market in 2020 due to the
high usage of primary cell-based therapies along with advances
in stem cell and progenitor cell therapies. The implementation
of these therapies in dermatological, musculoskeletal, and dental application
results in the highest share of this segment
- Stem cell and progenitor cell-based therapies are anticipated to
witness rapid growth due to high investments in this research space and an
increasing number of stem cell banks
- With the rise in R&D and clinical trials of regenerative
medicines, key players are offering several consulting services leading to
lucrative growth of the services segment
- The oncology segment is estimated to account for the largest
revenue share by 2027 owing to the high prevalence of cancer indications,
which drives the demand for better solutions. The presence of a strong
pipeline of regenerative medicines for cancer treatment also supplements
the segment growth
- North America dominated the market in 2020 and is projected to
continue its dominance over the forecast period. A significant number of
universities and research organizations investigating various stem
cell-based approaches for regenerative apposition in the U.S. propels the
region’s growth
- Asia Pacific is projected to witness the fastest CAGR over the
forecast period due to the emergence of key players and rapid adoption of
cell-based approaches in the healthcare
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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