In this report, Technavio covers the present scenario and growth prospects of the global regenerative medicine market for 2016-2020. To calculate the market size, Technavio researchers have covered revenues generated from the sales of various types of regenerative medicine products based on cell therapy, tissue scaffold, and gene therapy.
“There are more than 40 approved cell therapy products in the market. Most small and large biotech companies are working on various cell types such as progenitor cells, adult and embryonic stem cells, and iPSCs. These cells have proven their efficacy in the treatment of chronic heart failure, cancer, and diabetes,” said Barath Palada one of Technavio’s lead industry analysts for life sciences research.
“Most cell-based immunotherapy trials are conducted in the US and European countries. The scope of cell therapy products is widening with around 300 companies and many institutes conducting more than 1,900 clinical trials around the world. Regulatory approval of products is likely to further boost its demand and augment market growth during the forecast period,” added Barath.
Global regenerative medicine market by geography 2015
- Americas 52.23%
- EMEA 34.37%
- APAC 13.40%
Source: Technavio research
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Regenerative medicine market in Americas
The regenerative medicine market in the Americas was valued at USD 1.93 billion in 2015. The market in the Americas is expected to grow at a rapid pace during the forecast period because of increased demand for tissue-engineered and stem cell products for the treatment of various diseases. Rise in the NIH and BARDA funding in the US, and development of regenerative medicines in Canada and the US will also boost the market. The potential of these medicines in regenerating diseased organs is the primary motive that drives this market in the Americas. Advanced application of stem cells and nanotechnology will therefore result in a further progress of this market.
Regenerative medicine market in EMEA
The regenerative medicine market in EMEA was valued at USD 1.27 billion in 2015. It is estimated that around 30% of the population is suffering from chronic disorders such as diabetes, liver diseases, and blood disorders. Hence, the UK government is helping institutes and vendors fund their research in regenerative medicines. In a positive development, the regenerative medicine initiative in Germany has associated itself with few market players to develop strategies in clinical applications. Many institutes in Germany are partnering with the US to develop advanced cell therapy products. Many similar initiatives driven by other EU governments will provide further traction to the regenerative medicines market in this region.
Regenerative medicine market in APAC
Total knee replacement is a growing concern among the older population in APAC. As a traditional treatment, individuals requiring total knee replacement have to undergo accurate bone cutting, after which the surgeon has to balance the soft tissue coverage during the surgery. Through self-cell regeneration, or by isolating the stem cells of an individual, self-healing process can be initiated in the knee joint cartilage to improve the quality of life. Regenerative medicine for knee replacement can avert the need for any individual to undergo a surgical procedure. The growing demand for knee replacement is thus augmented to help the regenerative medicine market in APAC reach close to USD 1.66 billion by 2020.
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