Northbrook, IL 60062 -- (SBWIRE) -- 09/22/2022 -- 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%.

Growing prevalence of chronic diseases, genetic disorders, and cancer;

The incidence and prevalence of chronic diseases such as CVD, cancer, diabetes, ulcers, and genetic disorders such as cystic fibrosis have increased significantly across the globe, over the last few decades. The increased incidence and complexity of wounds such as infections, ulcerations (leg or foot ulcers), and surgical wounds, can be a result of diabetes and obesity, which will require treatments and incur exorbitant medical expenses.

Implementation of the 21st Century Cures Act;

The 21st Century Cures Act was signed into law in the US in December 2016. Among other objectives, to advance regenerative medicine research and medical innovation this new law has been enacted and covers various provisions that may impact the approval and development of several products in the coming years.

Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=65442579

Tissue-engineered products segment accounted for the largest share of the regenerative medicine market, by product, in 2019

Based on products, the regenerative medicine market is segmented into tissue-engineered products, cell therapies, gene therapies, and progenitor and stem cell therapies. The tissue-engineered products segment accounted for the largest share in the regenerative medicine market in 2019. The rising funding for the R&D of regenerative medicine products and therapies, and the increasing adoption of tissue-engineered products for the treatment of chronic wounds and musculoskeletal disorders are the major factors driving the growth of this segment.

Musculoskeletal segment accounted for largest share in the market, by application, in 2019

Based on applications, the regenerative medicine market is segmented into musculoskeletal disorders, wound care, oncology, ocular disorders, dental, and other applications. In 2019, the musculoskeletal disorders segment accounted for the largest market share. This can be attributed to the rise in geriatric population, increasing number of stem cell research projects, and increase in prevalence of orthopedic diseases.

Oncology segment to register the highest growth rate during the forecast period.

Based on applications, the regenerative medicine market is segmented into musculoskeletal disorders, wound care, oncology, ocular disorders, dental, and other applications. In 2019, the oncology segment accounted for the highest growth rate. This can be attributed to the rising prevalence of orthopedic diseases, growing geriatric population, increasing number of stem cell research projects, growing number of clinical researches/trials, and the rich pipeline of stem cell products for the treatment of musculoskeletal disorders.

Request Research Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=65442579

Geographically; The regenerative medicine market is segmented into four major regions, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW). In 2019, North America accounted for the largest share in the regenerative medicine market. The growth in the North American regenerative medicine market can be attributed to rising stem cell banking, tissue engineering, and drug discovery in the region; expansion of the healthcare sector; and the high adoption of stem cell therapy and cell immunotherapies for the treatment of cancer and chronic diseases.

The major players operating 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).

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=65442579