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Global Regenerative Medicine Market Analysis 2022-2031 by Product, End-Use, Application | CAGR of 12.7%

Regenerative Medicine

According to a report by Altus Market Research titled, “Regenerative Medicine Global Market Analysis 2022-2031 by Product(Cell Based; Gene Based; Tissue Based); By End-Use: (Ambulatory Surgical Centers; Hospitals And Clinics; Others); By Application: (Musculoskeletal; Oncology; Dental; Wound Care)”, the global regenerative medicine market reached a value of nearly $7,282.2 million in 2020, having increased at a compound annual growth rate (CAGR) of 54.1% since 2015. The market is expected to grow from $7,282.2 million in 2020 to $22,373.7 million in 2025 at a rate of 25.2%. The market is then expected to grow at a CAGR of 12.7% from 2025 and reach $40,710.1 million in 2030.

Growth in the historic period in the regenerative medicine market resulted from rising prevalence of chronic diseases, emerging markets growth, implementation of the 21st century cures act, rapid growth in aging population, and the improvement in healthcare awareness and expenditure. The market was restrained by high cost of cell and gene therapies, ethical concerns related to the use of embryonic stem cells in research and development, and inadequate reimbursements.

Going forward, rising demand for organ transplantations, growth in healthcare expenditure, technological advancements in regenerative medicines, rising investments in regenerative medicine research, and changes in lifestyles. Factors that could hinder the growth of the market in the future include rising popularity of alternative therapies and natural remedies, low per capita healthcare expenditure, and tissue-engineered products and biomaterials are lagging in adoption.

The regenerative medicine market is segmented by product into cell based, gene based and tissue based. The tissue based segment was the largest segment of the regenerative medicine market segmented by product, accounting for 74.4% of the total in 2020. Going forward, the gene based segment is expected to be the fastest growing segment in the regenerative medicine market segmented by product, at a CAGR of 30.8% during 2020-2025.

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The regenerative medicine market is also segmented by end-use into ambulatory surgical centers, hospitals and clinics, and others. The hospitals and clinics segment was the largest segment of the regenerative medicine market segmented by end-use, accounting for 63.8% of the total in 202o. Going forward, hospitals and clinics segment is expected to be the fastest growing segment in the regenerative medicine market segmented by end-use, at a CAGR of 25.3% during 2020-2025.

The regenerative medicine market is also segmented by application into musculoskeletal, oncology, dental, wound care and others. The oncology segment was the largest segment of the regenerative medicine market segmented by application, accounting for 60.0% of the total in 2020. Going forward, musculoskeletal segment is expected to be the fastest growing segment in the regenerative medicine market segmented by application, at a CAGR of 27.4% during 2020-2025.

North America was the largest region in the regenerative medicine market, accounting for 53.3% of the total in 2020. It was followed by the Western Europe, Asia Pacific, and then the other regions. Going forward, the fastest-growing regions in the regenerative medicine market will be Middle East and South America where growth will be at CAGRs of 72.4% and 71.9% respectively during 2020-2025. These will be followed by Eastern Europe and Asia Pacific, where the markets are expected to register CAGRs of 57.8% and 49.7% respectively during 2020-2025.

The COVID-19 impacted the global regenerative medicine market in the initial phase pandemic. Elective surgeries were cancelled or postponed to reserve the available limited capacities and resources such as hospital beds and healthcare professionals toward COVID-19 patient care. Moreover, to control the rising number of positive COVID-19 cases, several countries implemented lockdowns and curfews. Furthermore, patients were unable to visit hospitals, clinics, or OPDs due to the lockdowns. The regeneration industries are projected to be hindered by the temporary denial of wound care services, cancer care surgeries/therapies, and other healthcare services.

The global regenerative medicine market is fragmented, with a large number of players. The top ten competitors in the market made up to xx% of the total market in 2020. Companies in the market are expanding their business by adopting various strategies, such as mergers and acquisitions, while others are focusing on expanding its product portfolio by launching new products with advanced technology to retain their market share. Major players in the market are Smith & Nephew plc, Integra LifeSciences, Stryker Corporation, MiMedx Group, Inc., Zimmer Biomet Holdings Inc., B. Braun Melsungen AG, AbbVie, CONMED Corporation, Arthrex Inc., Baxter International Inc. and other players.

Player-adopted strategies in the regenerative medicine market includes strengthening its business by acquiring companies with same business, focus on research and development of new products and for the same is getting into partnerships and collaborations, and focusing on expanding its product portfolio by launching new products with advanced technology.

The top opportunities in the regenerative medicine market segmented by product will arise in tissue based segment, which will gain $11,532.7millions of global annual sales by 2025. The top opportunities in the regenerative medicine market segmented by end-use will arise in hospitals & clinics segment, which will gain $10,482.5millions of global annual sales by 2025. The top opportunities in the regenerative medicine market segmented by application will arise in oncology segment, which will gain $9,624.7 million of global annual sales by 2025. The regenerative medicine market size will gain the most in the USA at $5,031.7 million.

Market-trend-based strategies for the regenerative medicine include growing use of mesenchymal stem cell technology, increasing research and development on use of novel gene therapy techniques, advancements in technology transfer and clinical translation, rising strategic collaborations, partnerships and agreements, growth and advent of new companies, injectable hydrogel role in cartilage repair as a regenerative medicine, and global research initiatives and funding.

To take advantage of the opportunities, Altus Market Research recommends the regenerative medicine companies to focus on Mesenchymal stem cell technology, focus on strategic collaborations, partnerships and agreements, expand in emerging markets, provide competitively priced offerings in low-income countries, offer value-based pricing, participate in trade shows and events, focus on patient referral systems, target the elderly population and target hospitals and pharmacies to spread awareness.

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