Regenerative Medicine Market

Product Launch & Acquisition - Major Growth Strategies Adopted by Key Players in the Regenerative Medicine Market

The regenerative medicine market is projected to reach USD 38.7 billion by 2024 from USD 13.3 billion in 2019, at a CAGR of 23.8%. Regenerative medicine is the discipline of medicine that focuses on the regeneration or replacement of organs, tissues, and human cells to re-establish normal functionality. Regenerative medicine aims to renew or replace cells in human tissues and organs that have been damaged and are unable to function due to injury or illness. It can be attained by encouraging the body’s own cells to heal, or by treating a patient with laboratory-grown cells and tissues. Regenerative medicine holds the potential to treat previously incurable chronic diseases and conditions, including Alzheimer’s disease, Parkinson’s disease, diabetes, heart disease, renal failure, osteoporosis, and spinal cord injuries, among others. Also, by using regenerative medicine, entire organs can potentially be generated for transplantation.

The regenerative medicine market is a highly fragmented market and is dominated by various players offering regenerative medicine therapies and tissue-derived regenerative products. The major players in this market are Kite Pharma (US), Novartis (Switzerland), Vericel Corporation (US), Integra LifeSciences (US), Wright Medical (US), MiMedx (US), Osiris Therapeutics (US), Stryker Corporation (US), and Spark Therapeutics (US). Product launches and acquisitions are the key growth strategies followed by most players in this market.

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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.

  • In 2017 Integra launched its product, Integra Dermal Regeneration Template Single Layer "Thin" for dermal repair defects reconstruction in a one-step procedure.
  • In 2016 Integra received the FDA approval for its Integra Dermal Regeneration Template (IDRT)

Novartis AG (Switzerland) Novartis AG is one of the the largest player in the regeneartive medicine market in 2018. 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.

Related Reports:

Regenerative Medicine Market by Type [Cell-Based Immunotherapy & Cell Therapy (Allogeneic & Autologous Products), Tissue Engineering, Gene Therapy], Applications (Wounds & Dermal, Musculoskeletal, Oncology), Region - Global Forecast to 2024

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Report Code
BT 4419
RI Published ON
3/29/2019
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