Regenerative medicine is challenging the current healthcare practices by targeting the treatment of the root causes of disease and disorders, transforming it into an incredibly exciting space. However, these advancements have not come without significant challenges and uncertainties, which will also further need to be overcome to realize the full potential of regenerative medicine.
Regenerative medicine is challenging the current healthcare practices by targeting the treatments for the root causes of diseases and disorders, thereby transforming it into an incredibly exciting space full of opportunities. As per the market research conducted by BIS Research, the regenerative medicines market was estimated at $21.59 billion in 2019 and is expected to grow at a CAGR of 13.99% during the forecast period 2020-2030. The growth can be attributed to factors, including increasing consolidation among healthcare juggernauts and rising number of clinical trials for regenerative therapies, among others.
Cell and gene therapies, under the regenerative umbrella, are slowly and steadily becoming a healthcare standard, particularly in developed regions such as the U.S. and Europe, where already established markets for tissue engineering and stem cell have largely been responsible for driving the global regenerative medicine phenomenon. Cell and gene therapies, though advancing at a rapid pace, have primarily been targeted for hematological malignancies. However, the same potential has not been replicated in solid tumor applications, consequently creating demand for cell therapies focusing on solid tumors. As a result, the industry is now moving toward the research and subsequent clinical translation of next-generation therapies, led by natural killer (NK) cells, which offer a viable option for solid tumors as well. Such trends are consistently propelling the industry toward realizing the true potential of precision medicine.
The global regenerative medicines market is currently witnessing several developments, primarily aimed toward bringing new products to support clinicians for the treatment of life-threatening disorders. Major manufacturers of regenerative medicine products are actively involved in undertaking significant business strategies in order to translate success in research and development into the commercial clinical setting. Although tissue engineering and stem cells remain the dominating product segments, the advent of cell and gene therapy has revolutionized the regenerative medicine phenomenon, moving it more toward the precision medicine space.
On the basis of region, North America holds the largest share of the regenerative medicines market due to a high number of active advanced therapeutic medicinal product trials, massive government funding, expansion activities by major companies, and an overall high adoption rate for advancing therapies. Apart from this, the Asia-Pacific region is anticipated to grow at the fastest CAGR during the forecast period, 2020-2030.
Key Questions Answered in this Report:
• What are the major market drivers, challenges, and opportunities and their respective impacts on the global regenerative medicines market?
• What is the potential impact of advancement in therapeutics among emerging segments of the global regenerative medicines market?
• What is the current market demand along with future demand for the global regenerative medicines market?
• What are the key regulatory hurdles for industry players looking to enter this highly dynamic market?
• What are the key development strategies that are implemented by the major players in order to sustain the competitive market?
• How is each of the segments of the market expected to grow during the forecast period from 2020 to 2030 based on each segment? Following are the segments:
o Regions, namely, North America, Europe, Asia-Pacific, Latin America, and Rest-of-the-World (RoW)
• Who are the leading players with significant offerings to the global regenerative medicines market? What is the expected market share for each of these leading players?
• Which emerging companies are anticipated to be highly disruptive in the future, and what are their key strategies for sustainable growth in the global regenerative medicines market?
• How is the underlying cell and gene therapy segment pushing the boundaries of regenerative medicine across the world? What are the next-generation therapies within this segment?
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Within the research report, the market is segmented on the basis of products, applications, and region. Each of these segments covers the snapshot of the market over the projected years, the inclination of the market revenue, underlying patterns, and trends by using analytics on the primary and secondary data obtained.
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