Ottawa, April 26, 2024 (GLOBE NEWSWIRE) -- According to Precedence Research, the global regenerative medicine market size is calculated at USD 35.82 billion in 2024.Regenerative medicines are used in advancing healthcare, such as new treatments for injuries and diseases and gene therapies.

Regenerative Medicine Market Revenue, By Region ($ Million)

Regenerative Medicine Market Revenue, By Product ($ Million)

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The regenerative medicine market deals with regenerating, engineering, or replacing animal or human organs, cells, or tissues to restore normal functions. Regenerative medicine can include growing organs or tissues in laboratories and then implanting them into the body when it does not recover itself. Regenerative medicines focus on applying and developing new treatments to restore functions and to heal organs or tissues lost because of defects, damages, aging, or diseases.

Regenerative medicines are also used in tissue engineering, cell therapies, stem cells, and immunomodulation therapy. Regenerative medicine helps to support the body in restoring, repairing, and regenerating itself to a state of well-being and for unsatisfied patient needs among many medical specialties.

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Key Insights

Regional Stance

North America dominated the regenerative medicine market in 2023. The increasing incidence of joint diseases and bone diseases and advanced technologies in stem cell therapy and tissue engineering are the main factors that are causing the growth of the North American region. The emergency requirement for CAR-T cell therapies and rising investments in developing new regenerative drugs in the United States of the North American region help the growth of the market.

The U.S. regenerative medicine market size reached USD 13.44 billion in 2023 and is projected to surpass around USD 83.26 billion by 2033, expanding at a CAGR of 20% from 2024 to 2033.

Rising genetic diseases and trauma incidences contribute to the growth of the market. Stem cell therapy is used in the United States for medical treatments like the treatment of blood disorders and cancer, as well as specific diseases affecting cartilage, skin, and bone. The USFDA regulates the use of stem cell therapy for some stem cell treatments.

Asia-Pacific is estimated to be the fastest-growing region during the forecast period of 2024-2033.The supply chain of regenerative medicine therapies is growing in the Asia-Pacific region. In the CRO/CDMO space of Asia, growth is increasing. They build a hospital network that supports the development of the regenerative medicine market. Countries like Japan, China, India, and South Korea contribute to the growth of the region. Among all the Asian countries, Japan has a very large influence on the biotechnology and pharmaceutical markets, both of which are responsible for the markets growth. China, being the largest economy, provides endless opportunities for the expansion of the market.

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Scope of Regenerative Medicine Market

Report Highlights

By Product Type

The tissue engineering segment dominated the regenerative medicine market in 2023. Tissue engineering combined with inductive factors, cells, and scaffolds to replace or regenerate diseased or damaged tissue. Regenerative medicine is used in tissue engineering, along with other procedures, such as immunomodulation, cell-based therapy, and gene therapy, to induce organ or tissue regeneration in vivo. Regenerative medicine is a large field that includes tissue engineering and self-healing research, where the body uses its system, sometimes with the help of biological materials, to rebuild organs and tissues or to regenerate cells.

The stem cell therapies segment is the fastest-growing during the forecast period.Stem cell therapy is also called regenerative medicine. It helps in repairing injured, dysfunctional, and diseased tissue by the use of stem cells and their derivatives. Applications of cell therapies in regenerative medicines include regenerating damaged cartilage in joints, improving weakened immune systems, urinary problems, neurological disorders, autoimmune diseases, spinal cord injury, and treating cancers, which helps in the growth of the segment.

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By Application Type

The musculoskeletal application segment dominated the regenerative medicine market in 2023. Treatment and diagnosis of problems arising from the musculoskeletal systems are treated with the help of regenerative medicine. This includes diseases and injuries affecting the bones, joints of spines, limbs, and muscles. PRP, MSC therapy, and IRAP-induced ACS are regenerative medicines that are used for musculoskeletal injuries.

The oncology application segment is the fastest-growing during the forecast period.Oncology, also known as cancer immunotherapy, is a form of regenerative medicine. Cancer immunotherapy helps in engineering, replacing, regenerating, or activating the immune system to fight against cancer. Cancer immunotherapy is the most commonly used and promoted form of regenerative medicine. Regenerative medicine is used to help cancer patients understand cancer biology and cancer treatment. MSC regenerative medicine may used for the treatment of tumor sites.

Market Dynamics

Driver

Rising senior population

An increased proportion of the senior population is the main driver of the regenerative medicine market. As the senior population increases, degenerative problems and age-related illnesses increase, and this leads to the need for treatments and contributes to the growth of the market. For the treatments of these patients, regenerative medicine is required as age increases. There is a slight decrease in the regenerative properties of many tissues due to age-dependent changes in tissues. Regenerative medicines and anti-aging are involved in the process of reducing harmful elements that cause death or diseases in cells and also modifying these cells to get back to their healthy, normal functions.

Restraint

Reimbursement and manufacturing

The significant challenge for regenerative medicine nowadays is reimbursement and manufacturing, both of which are barriers to the regenerative medicine market. In the fast-moving field of gene therapy and cell therapy, regulation and policy may fail to keep up with scientific innovation. In the manufacturing case, developers and regulators struggle to standardize processes essential for the transition from the making of small-scale batches of therapies to use in clinical trials to the high-scale batches essential by full-scale marketing. The manufacturing processes of gene therapies and cell therapies are more complex than those of other drugs.

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Opportunity

Increase in tissue engineering.

Tissue engineering become a transformative field in modern healthcare, providing a creative approach toward replacing, regenerating, and repairing lost or damaged organs or tissues. This helps address the limitations of traditional therapies, revolutionize medical treatments, and improve the quality of life for many individuals. As technological capabilities and scientific understanding increase, tissue engineering development will help and contribute to the growth of the regenerative medicine market. Tissue engineering helps in a combination of biochemical biomaterials and cell factors for creating functional tissues, which are copies of natural tissue functions and properties. At that time, regenerative medicine helps in natural healing mechanisms to replace damaged organs or tissues. These also help to offer personalized therapeutic solutions and overcome the challenges of reducing chronic diseases and organ shortages for transplantation.

Recent Developments

Regenerative Medicine Market Key Players

Market Segmentation

By Product

By Material

By Application

By End User

By Geography

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Regenerative Medicine Market Size Expected to Reach USD 154.05 Bn by 2033 - GlobeNewswire