Regenerative Medicines represent the new paradigm in human health, with the potential to resolve unmet medical needs by addressing the underlying cause of disease. This rapidly evolving, interdisciplinary field in healthcare is transforming the practice of medicine in the medical world. According to the market intelligence report of BIS Healthcare titled, ‘Global Regenerative Medicines Market- Analysis and Forecast’, the market is expected to reach $50.55 billion by 2025 from $17.03 billion in 2016. This significant growth can be attributed to the rising awareness about the regenerative medicines, technological advancements, and better efficacy as well as safety provided by such medicines. Furthermore, the regenerative medicines involve three types of therapies, known as gene therapy, cell therapy, and tissue engineering therapy. Presently, the tissue-engineered therapy product segment dominates the market with 63% of share and $10.7 billion revenue generated from more than 200 companies, across the globe. Moreover, it is expected that the gene therapy is going to lead the market during the forecast period, owing to escalating prevalence of chronic diseases, increasing geriatric population, and improved safety and outcomes, provided by the gene therapy products.
Regenerative medicine therapy involves the replacement or repair of the damaged tissue or organs and thus, offering permanent treatment to the patients, as compared to the palliative treatment offered by the existing pharmaceuticals products. Further, the possibility of the development of a therapy for the treatment of rare, and orphan diseases, use of nanomaterials, and recent development of cell therapy, stem cell exomes, present a plethora of opportunities for the growth of the market. However, the key market players are facing major challenges owing to the changing environmental regulations, and stringent regulations implemented by the concerned regulatory bodies for the medicine products.
Except for the one-time initial cost of the regenerative medicine therapy, the overall cost of the therapy over the years is less as compared to the traditional treatment. Thus, the cost of the therapy acts as a barrier for the accessibility of the treatment and due to this, the government and prominent market players of the industry, are coming up with reformed reimbursement policies.
As the world’s population is aging at a faster pace, and the prevalence of diseases is rising, the demand for the regenerative medicines is increasing which not only cure the chronic conditions completely but also improve the quality of life of the patients. Furthermore, the rapid adoption of the stem cell and gene therapy in the developed markets such as the U.S., Japan, Germany, and U.K. are acting as the key growth driver of the market on the global scale.
BIS Research has conducted an extensive research on the global regenerative medicines market and compiled the observation and insight in this report. The market intelligence report aims at providing an in-depth analysis of the key development strategies, marketing strategies and market trend dynamics which include drivers, restraints, and opportunities prevailing in the industry.
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