StemCell Therapy

Global regenerative medicine market was valued at USD 27.29 Billion in 2020. It is expected to increase at a compound annual rate (CAGR of 11.27%) between 2021 and 2027. Tissue Engineering is the segment expected to see the greatest growth in the Global Regenerative Medicine Market. Biomaterials currently hold the largest market share in global regenerative medicine.

Regenerative medicine has the potential to treat chronic, incurable diseases such as Alzheimers disease, Parkinsons disease, diabetes, and other conditions. The Alliance for Regenerative Medicine estimates that around 1,028 clinical trials in regenerative medicine are currently underway. In 2018, regenerative medicine was funded with a total of USD 13.3 billion in global financing. The forecast period will see a significant increase in investment by market leaders in research and development of regenerative medicines.

Driving Factors

Growing prevalence of chronic diseases, genetic disorders, and cancer

Over the past few decades, the prevalence and incidence of chronic diseases like CVD, cancer and diabetes has increased dramatically around the world. Diabetes and obesity can lead to an increase in the number and complexity of wounds like infections, ulcerations (leg and foot ulcers), as well as surgical wounds. These will need treatment and may result in exorbitant medical costs.

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Restraining Factors

High cost of cell and gene therapies

The cell and gene therapies represent significant medical and scientific advancements for patients with serious and terminal illnesses. These therapies are changing the way diseases are treated and could even be cured. Injectable therapies will enable doctors and other medical professionals to infuse cells/genes through injectable methods, thereby avoiding multiple surgeries and the need for a number of drugs. Although these therapies can be life-saving and more effective than traditional treatments, demand is lower than anticipated. This is due to the high cost of these therapies as well as difficulties in obtaining coverage and reimbursements for them.

Market Key Trends

Recent development

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Read the original post:
Regenerative Medicine Market to Garner Bursting Revenues [+USD 27.29 Billion] with Top Growing Companies During 2022-2029 - eTurboNews | eTN

This entry was posted on September 4, 2022 at 2:08 am and is filed under Regenerative Medicine. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed. |