The regenerative medicine market is expected to witness a CAGR of 16.6% to reach $54.5 billion by 2024
Bangalore, India, May 18, 2018: With its recently published study “Regenerative Medicine – Global Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2024”, Infoholic Research forecasts that the global market for regenerative medicine will continue to grow, owing to the increasing prevalence of cancer, neuronal disease, genetic disease and other bone related disease, emerging application of regenerative medicine, and advancement in technology. Huge number of ongoing clinical trails and strong product pipeline are providing market growth oppurtunity.
Various therapies covered in the report includes Immunotherapy, Tissue engineering and Biologics & Small molecules. Among these, immunotherapy occupied major market share of global regenerative medicine market in 2017, and is expected to remain same during the forecasted period. This is due to increasing product approvals, emerging technological advancements in cell and gene therapy, flexible regulatory for stem cell based research, and growing awareness regarding the benefits of stem cell therapies.
North America is the major market in the global regenerative medicine market, followed by Europe. Asia-Pacific region is expected to have the fastest growth rate with the market growth centered at Japan, China and India. This is mainly due to increasing funding in healthcare research, rising research activities, growing patient pool, flexible regulatory environment for clinical trials, and rising healthcare expenditure.
The dermatology application occupied the largest share in 2017 and cancer segment is expected to grow at fastest rate during the forecasted period. Growing aging population, changing lifestyle, increasing disease prevalence makes cancer, the fastest growing application segment during the forecasted period.
“The regenerative medicine market is steadily growing with an increase in the investment for developing advanced products, strategic acquisition, and product approvals which can enhance the position of the market players. For instance, in 2017, FDA has approved two Chimeric Antigen Receptor (CAR) T-cell therapy, which is expected to strengthen the market. The robust product pipeline and large number of ongoing clinical trials are further expected to provide better opportunity for market growth.” said Arpitha Shetty, Research Analyst, Infoholic Research
Key insights of the report include:
- Major Therapy:
- Tissue engineering
- Biologics and Small molecules
- Key Application Areas:
- Central Nervous System
- Orthopedic and Musculoskeletal
- Key Geographical Areas:
- North America
- Asia Pacific
- Rest of the world
- Industry outlook: Market trends, drivers, restraints, and opportunities