The regenerative medicine market is projected to reach USD 40.6 Billion by 2027 from USD 12.2 Billion in 2022, at a CAGR of 27.2% during the forecast period. 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 moderately consolidated, with various players offering regenerative medicine products. Prominent players in this market are Novartis AG (Switzerland), Biogen (US), Sarepta Therapeutics, Inc. (US), Gilead Sciences, Inc. (US), Amgen, Inc. (US), Smith & Nephew plc (UK), MEDIPOST Co., Ltd. (South Korea), JCR Pharmaceuticals Co., Ltd (Japan), Takeda Pharmaceutical Company (Japan), CORESTEM Inc (South Korea), Vericel Corporation (US), MIMEDX (US), Organogenesis Inc. (US), Medtronic plc (US), Orthocell Ltd. (Australia), Mesoblast Ltd (Australia), BioRestorative Therapies (US), Pluri Inc, (Israel), Tegoscience (South Korea), Anterogen Co., Ltd. (South Korea), bluebird bio (US), APAC Biotech (India), Shenzhen Sibiono Genetech Co., Ltd. (China), Aspect Biosystems (Canada), and Athersys, Inc. (US).
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Novartis AG (Switzerland)
Novartis AG (Switzerland) was the leading player in the regenerative medicine market, with a share of ~25-27% in 2021. The company offers two gene therapy products—KYMRIAH and ZOLGENSMA. Globally, the company has strong distribution channels and a good brand image. As a result, KYMRIAH registered significant growth in 2018—KYMRIAH registered sales of USD 587 million in 2021, a rise from 24% in 2020. ZOLGENSMA registered sales of USD 1,351 million in 2021, up from 47% in 2020. Novartis has strong distribution channels in the US. As a result, in 2021, the company generated 32.6% of its total revenue from the US alone.
Biogen (US) is the second-leading player in the regenerative medicine market. However, the revenue of SPINRAZA is declining year on year. A decline in demand primarily brought on the decline in SPINRAZA revenue because of heightened competition in the US and Germany and a decline in pricing in the US and the RoW markets, which were only partially offset by an uptick in sales volumes in Latin America and some distributor markets.
Regenerative Medicine Market by Product (Cell Therapy (Autologous, Allogenic), Gene Therapy, Tissue Engineering (Scaffold, Hydrogels), Application (Musculoskeletal, Oncology, Cardiovascular, Ophthalmology, Wound Care), Region - Global Forecast to 2027
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