The global regenerative medicine market is expected to reach USD 17.9 billion by 2025 from USD 8.5 billion in 2020, at a CAGR of 15.9%. Market growth is driven by the rising prevalence of chronic diseases, genetic disorders, and cancer; rising investments in regenerative medicine research; and the growing pipeline of regenerative medicine products. However, the high cost of cell and gene therapies and ethical concerns related to the use of embryonic stem cells in research and development are expected to restrain the growth of this market during the forecast period.
The regenerative medicine market is a highly fragmented market and is dominated by various players offering regenerative medicine products. The major players in this market are 3M (US), Allergan plc (Ireland), Amgen, Inc. (US), Aspect Biosystems (Canada), bluebird bio (US), Kite Pharma (US), Integra LifeSciences Holdings Corporation (US), MEDIPOST Co., Ltd. (South Korea), Medtronic plc (Ireland), Anterogen Co., Ltd. (South Korea), MiMedx Group (US), Misonix (US), Novartis AG (Switzerland), Organogenesis Inc. (US), Orthocell Limited (Australia), Corestem, Inc. (South Korea), Spark Therapeutics (US), APAC Biotech (India), Shenzhen Sibiono GeneTech Co., Ltd. (China), Smith & Nephew plc (UK), Stryker Corporation (US), Takeda Pharmaceutical Company Limited (Japan), Tego Science (South Korea), Vericel Corporation (US), and Zimmer Biomet (US).
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Integra LifeSciences has a strong presence across all regions with its distribution channels. Moreover, the company operates its business channels in more than 130 countries with 50 offices. The company adopted acquisitions as a key strategy in order to strengthen its position as well as expand its product portfolio. For instance, in 2017, Integra acquired Derma Sciences Inc. in order to strengthen its position in the regenerative medicine market. In addition company is largely focused on the organic growth strategies as company has launched various products in this market.
Novartis AG (Switzerland) Novartis AG is one of the the largest player in the regeneartive medicine market in 2019. In order to maintain its position in the market, the company has been focusing on the innovations, and breakthrough product approvals for the treatment of cancer. For instance, in August 2017, Novartis received the FDA approval for CAR-T cell therapy, Kymriah (CTL019), which is used for the treatment of cancer. Kymriah got the EU approval in August 2018. Novartis also focused on the inorganic strategies in order to enhance their dominance in the regenerative medicine market. For instance, Novartis received EU approval for one-time gene therapy, Luxturna, developed by Spark Therapeutics, to restore vision in people with rare and genetically-associated retinal disease.
Regenerative Medicine Market by Product (Cell Therapies (Autologous, Allogenic), Stemcell Therapy, Tissue-engineering, Gene Therapy), Application (Wound Care, Musculoskeletal, Oncology, Dental, Ocular), Geography - Global Forecast to 2025
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