WESTFORD, Mass. , Aug. 1, 2024
/PRNewswire/ -- According to SkyQuest, the global Regenerative
Medicine Market size was valued at USD
9.59 Billion in 2022 and is poised to grow from USD 12.2 Billion in 2023 to USD 83.6 Billion by 2031, growing at a CAGR of
27.2% in the forecast period (2024-2031).
With regenerative medicine, congenital abnormalities are fixed
and organs and tissues destroyed by illness, aging, or trauma can
be restored or replaced. Regenerative medicine expedites patient
healing compared to conventional therapy. As more investors back
start-up businesses that concentrate on creating cutting-edge goods
and therapies for the market, more R&D projects have been
completed due to rise in investment in this sector. Research
mergers and collaborations have benefited from this. The
development of efficient treatment options for a range of chronic
illnesses, such as cancer, diabetes, and kidney disease, is
facilitated by government investments in this sector.
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Regenerative Medicine Market Overview:
|
Report
Coverage
|
Details
|
|
Market Revenue in
2023
|
$12.2
Billion
|
|
Estimated Value by
2031
|
$83.6
Billion
|
|
Growth Rate
|
Poised to grow at a
CAGR of 27.2%
|
|
Forecast
Period
|
2024–2031
|
|
Forecast
Units
|
Value (USD
Billion)
|
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
|
Segments
Covered
|
Product, Therapeutic
Area, Region
|
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, Latin America, and Middle East and Africa.
|
|
Report
Highlights
|
Use of regenerative
medicines and its benefits in treating range of
illnesses
|
|
Key Market
Opportunities
|
Government initiatives
in support of reproduction medicines
|
|
Key Market
Drivers
|
Increase in R&D
spending that produces innovative product launches
|
Segments covered in Regenerative Medicine Market are
as follows:
- Product
-
- Cell Therapy (Stem Cell Therapy {Cell transplantations, Stem
cell therapy products [Autologous therapy, Allogeneic therapy]},
Cell-based Immunotherapy), Gene Therapy, and Tissue
Engineering
- Therapeutic Area
-
- Oncology, Musculoskeletal Disorders, Dermatology & Wound
Care, Cardiovascular Diseases, Ophthalmology, Neurology, and
Others
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Cell Therapy: Pioneering the Future of Healing
The market leader in regenerative medicine, cell therapy, with a
revenue share of over 56% and is expected to stay that way for the
duration of the forecast. Primary cell-based therapies are the most
advanced drugs on the market right now since they offer a range of
therapeutic uses and early clinical applications. The market for
stem cell and progenitor cell-based therapeutics is growing due to
significant investments made in stem cell research and changes to
laws that permit their use in clinical settings.
In the regenerative medicine sector, the gene therapy market is
growing at the fastest rate in terms of products, nevertheless. The
precise repair of genetic defects made possible by developments in
gene technology such as CRISPR-Cas-9 facilitates segmental
expansion. It offers long-term treatments for conditions including
hemophilia and muscular dystrophy, among others. The market is
expanding more rapidly due to higher gene therapy spending.
Regenerative medicine is being advanced by major technology
providers that provide engineering, characterization,
manufacturing, quality control, management, and other facilities
for clinical trials and other research. Due to this, the service
sector is expected to expand rapidly due to an increase in
regenerative treatment research and clinical trials.
View report summary and Table of Contents (TOC):
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Oncology is driving the Regenerative Medicine Industry due to
rise in the prevalence of cancer globally
Oncology represents the largest therapeutic area in the
regenerative medicine industry, accounting for around 16.8% of
total revenue due to the high frequency of application of
regenerative therapies in this field. Effective alternatives to
cancer treatment have been introduced due to rise in the incidence
of cancer. Large sums of money have been invested in cancer R&D
of innovative and regenerative cell therapies by several
governmental agencies and commercial enterprises. Moreover, global
initiatives are anticipated to reduce the cancer burden that would
fuel market growth.
The area of regenerative medicine that is growing the fastest is
musculoskeletal issues. As musculoskeletal disorders are becoming
more common, a wide selection of products should increase the
musculoskeletal segment's revenue. The field of regenerative
medicine has advanced more quickly since the introduction of
effective treatments such as stem cells and tissue engineering,
which enable tissues to mend and regain their functional strength.
This population can receive and benefit from cell- and
regenerative-based therapy. Throughout the embryonic period,
several unique routes encourage tissue engineering. These include
using biomaterials and drug delivery methods to affect cell
division and to stimulate and regulate the immune system. R&D
methods in dermatology have been raised by an increase in the
complexity of the wound healing process in serious conditions such
as diabetes and HIV.
The regenerative medicine market has experienced significant
growth in several domains, including cell therapy and oncology, due
to the products' increasing demand and diverse range of
applications. These advancements have the power to fundamentally
rethink therapy strategies, offering patients new hope and
ground-breaking chances for medical study.
Related Report:
Precision Medicine Market
Nuclear Medicine Market
Stem Cell Therapy Market
Cell Therapy Market
Compression Therapy Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and
Accelerator of Technology and assets. We provide access to
technologies, markets and finance across sectors viz. Life
Sciences, CleanTech, AgriTech, NanoTech and Information &
Communication Technology.
We work closely with innovators, inventors, innovation seekers,
entrepreneurs, companies and investors alike in leveraging external
sources of R&D. Moreover, we help them in optimizing the
economic potential of their intellectual assets. Our experiences
with innovation management and commercialization has expanded our
reach across North America,
Europe, ASEAN and Asia Pacific.
Contact:
Mr. Jagraj
Singh
SkyQuest Technology
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 351-333-4748
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SOURCE SkyQuest Technology