Regenerative Medicine Market Size to Record 28.2% CAGR Over 2023-2030; Introduction of Innovative Products to Lead Market Growth

The global regenerative medicine market size touched USD 28.62 billion in 2022 and is predicted to reach USD 34.56 billion in 2023. The market is anticipated to touch USD 197.08 billion by 2030, recording a CAGR of 28.2% over 2023-2030.

Fortune Business Insights™ presents this information in its latest report titled “Regenerative Medicine Market Size, Share & COVID-19 Impact Analysis, By Product (Cell Therapy, Gene Therapy, Tissue Engineering, and Platelet Rich Plasma), By Application (Orthopedics, Wound Care, Oncology, Rare Diseases, and Others), By End User (Hospitals, Clinics, and Others), and Regional Forecast, 2023-2030”.

The healthcare sector is undergoing several technological advancements to cater to the unique and increasingly complex medical requirements of the global population. The way drugs are administered today is also experiencing innovations to offer ease and convenience to patients. Drug delivery systems refer to a device that delivers a certain drug in the body and increases its safety and efficacy by supervising its rate, place, and time of release. Such controlled delivery of medicines can drastically reduce the risk of over or under-dose, thereby improving a patient’s survival rate. These factors are predicted fuel the regenerative medicine market growth.

Cell and Gene Therapies Showed Strong Performance During COVID-19, Fueled Market Growth

The market experienced a mixed impact of the COVID-19 pandemic as some segments of the market performed better than the others. For instance, the gene therapy segment recorded strong growth during this period due to rising sales of rare disease therapeutics, while the tissue engineering segment noticed a major decline in its growth. However, in 2021, the market rebounded due to ease in pandemic-related restrictions. It is being predicted that from 2022 onwards, the market growth will soar due to factors, such as growing prevalence of chronic ailments and focus on various R&D initiatives.

Introduction of Innovative Products to Lead Market Growth for Regenerative Medicine

Regenerative medicines are being increasingly used in a wide range of areas ranging from wound care and tissue repair to different medical fields, such as neurology, cardiology, oncology, and many others. A growing number of life science and pharmaceutical firms are carrying out clinical trials to dominate the conventional treatment techniques by introducing innovative products in the pipeline, that are still under development. These factors will increase the introduction of innovative products and therapies.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/regenerative-medicine-market-100970

Key Players to Lead Market Growth Due to Strong Sales Performance

The market consists of a wide range of companies, but a few of them have held a dominant position in this industry for quite some time. For instance, Gilead Sciences Inc. and Novartis AG have dominated the market when it comes to cell and gene therapies. In terms of tissue engineering, Stryker Corporation has led the market regenerative medicine growth as it acquired the Wright Medical Group N.V. to create a robust biologics portfolio.

Notable Industry Development:

• July 2022: Vertex Pharmaceuticals announced the acquisition of ViaCyte to speed up the development of stem cell-derived islet cell replacement therapy for Type 1 diabetes.

List of the Companies Profiled in the Report:

• Integra LifeSciences Corporation (U.S.)


• Bristol-Myers Squibb Company (U.S.)


• Tissue Regenix (U.K.)


• Smith & Nephew (U.K.)


• MIMEDX (U.S.)


• Novartis AG (Switzerland)


• Allergan Aesthetics (AbbVie Inc.) (U.S.)


• Stryker (U.S.)


• American CryoStem Corporation (U.S.)


• Kite (Gilead Sciences, Inc.) (U.S.)


• AlloSource (U.S.)


• bluebird bio, Inc. (U.S.)


• CRISPR Therapeutics (Switzerland)


• Janssen Global Services, LLC (Johnson & Johnson Services, Inc.) (Belgium)


• Tegoscience (South Korea)

Further Report Findings

• North America held the largest regenerative medicine market share in 2022 and might hold its dominance during the forecast period due to various factors, such as new product approvals and extensive use of cell and gene therapies.


• The market in Asia Pacific is anticipated to register the highest CAGR during the forecast timeline as the region is witnessing a worrying rise in the incidence of chronic ailments. This scenario has prompted governments to introduce favorable policies to promote technological advancements in medicine, further fueling the market growth in the Asia Pacific region.


• The orthopedic application segment captured the biggest market share in 2022 as there has been an alarming growth in the prevalence of chronic orthopedic disorders, such as osteoarthritis and bone-related injuries. Regenerative medicines can help reduce pain and discomfort, further enhancing their demand in orthopedic treatments.

Table of Segmentation