Regenerative Medicine Market – Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026
Regenerative Medicine Market
Regenerative medicines are medical products or active pharmaceutical ingredients that have the ability to cure or replace organs and tissues organs damaged by various factors such as aging, diseases, trauma, and can also be used to provide stability in congenital disorders. According to findings of various studies, regenerative medicines can also be useful in treating both chronic and acute disorders in terms various context of abnormalities such as cardiovascular diseases, dermal wounds, and in treatment of certain types of cancer. Furthermore, the current therapy of organ and tissue transplantation for treating organ and tissue failures can result in patient death due to limited or no donor supply and often result in severe complications in immune system. Regenerative medicine helps alleviate such issues to a major extent.
Furthermore, players in the regenerative medicine market focus on fueling growth in the pharmaceutical sector by adopting various strategies such as including the use of different materials in the preparation that can offer better results and newly generated cells or with the combination of both, in turn replacing the missing tissue and effectively serving its functions. The innate healing response of the human body can also be favored to support the regenerating activities. Age is a major factor that can affect the regeneration of the desired part, as the body’s ability to regenerate is low among adults as compared to young population or lower vertebrates. Materials play an important role in regeneration activities, as they form the basis of the growth and replacement, as they can mimic the native extracellular matrix (ECM) of tissues.
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Rising number of bone and joint surgeries to fuel the growth of regenerative medicine market in the near future:
Rise in number of trauma case globally is expected to favor growth of the regenerative medicine market in the near future. There are different types of prosthetics and implants that are used to support the human body movement in case of trauma and severe injury. However, a majority of the young population perceives these to be an eye sore and are increasingly inclined towards non-obtrusive options that do not drastically alter their physical appearance and activities. Regenerative medicine provides a viable alternative to such conventional methods and also reduces risk of deformity. However, regenerative medicine is significantly expensive as compared to conventional methods of treatment. Also, this treatment option is barely effective for treatment of the geriatric population. These factors impede growth of the market to a certain extent. According to University of California, Los Angeles (UCLA) Department of Orthopedic Surgery, in 2015, around 7,515 orthopedic surgeries were conducted in the U.S. by the department from July 2014 to June 2015. This number is expected to rise due to rise in number of orthopedic trauma cases in the region, which is further projected to favor growth of the regenerative medicine market in the near future.
Developed regions major growth engines of the regenerative medicine market
Developed countries such as the U.S., Germany, U.K., France, and Japan have a highly developed market for regenerative medicine, mainly due to technical advancements in the region. According to Regenerative Medicine Annual Report, in 2013, in regenerative medicine market there has been various product approvals along with annual revenue of around US$ 1 billion. Thus, this sector is expected to attract attention from investors and industry partners in the near future. Furthermore, as per the report, around 60,000 stem cell transplants are performed globally each year to treat various cancers and blood-based disorders. This augments growth of the market of regenerative medicine. Also, as observed by Alliance for Regenerative Medicine (ARM), in 2012, the bio-therapeutic companies distributing cell therapy products generated around US$ 900 million, with 160,000 patients undergoing various related treatments.
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Major acquisitions to support growth of regenerative medicine market
There are few recent acquisitions by the big brands in biotechnology that is expected to favor growth of regenerative medicine industry. In August 2016, Medtronic Inc. acquired Heart Ware International, Inc. — a provider of technologies for less-invasive, miniaturized, mechanical circulatory support (MCS) for treatment of patients with advanced heart failure. This acquisition is further expected to favor the working efficiency of the company and broadens its product portfolio. Key players operating in the regenerative medicine market include Depuy Synthes, Inc., Orthofix, Inc., NuVasive, Inc. and Zimmer Holdings, Inc.
Key players in the market are focused on various business strategies such as product launches, in order to expand their product portfolio and gain competitive edge in the market. For instance, in March 2019, Fidia Pharma USA Inc., a pharmaceutical company, launched NuDYN product, which is a regenerative medicine. This is company’s product in first regenerative medicine category.
Major companies in the market are focused no various business strategies business and capacity expansion, in order to enhance the global market presence. For instance, in May 2019, CollPlant, a regenerative medicine company, launched a new headquarter and research and development center Israel. The new R&D facility will serve COllPlant for development its product pipeline such as Biolinks for 3D bioprinting of organs and tissues.
Regulatory authorities and government organizations are engaged in launching various programs, in order to boost growth of global regenerative medicine market. For instance, in January 2017, the U.S. Food and Drug Administration (FDA) launched a new designation program for regenerative medicine therapies. This ‘Regenerative Medicine Therapy (RMAT) Designation’ program will foster the approval and development of regenerative medicine products.
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