A recent report published by Infinium Global Research on the translational regenerative medicine market provides an in-depth analysis of segments and sub-segments in the global as well as regional translational regenerative medicine market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional translational regenerative medicine market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global translational regenerative medicine market. According to the report, the global translational regenerative medicine market is projected to grow at a CAGR of 11% over the forecast period of 2022-2028.
The value of the translational regenerative medicine market in 2022 was USD 3 billion and is expected to reach USD 5 billion in 2028 and is expected be growing with a CAGR of more than 11%. Regenerative medicine is a branch of translational research in tissue engineering and molecular biology. Regenerative medicines deal with the process of engineering & replacing human cells, tissues or organs to restore or establish normal function. Regenerative medicines primarily help to restore the structure and function of damaged tissues and organs by stimulating the body’s own repair mechanism. These medicines are used in a wide range of degenerative disorders such as dermatology, neurodegenerative diseases, and cardiovascular and orthopedic applications. A huge number of proof-of-concept experiments in regenerative medicine have been conducted over the last few decades.
The covid-19 had a direct impact on the ongoing R&D activities of the translational regenerative medicine market. Due to the adoption of stringent measures, the number of research staff working on these R&D activities in various institutions and R&D facilities declined which may have led to delays in the R&D activities and cost overruns, and also a scarcity of crucial components used in these R&D activities due to supply chain disruptions. Though, the covid-19 pandemic has also presented new opportunities in the market. As translational regenerative medicine market can be developed for treating the covid-19 virus and also there have been some instances of developing such medicine during the pandemic. Rising awareness among people regarding regenerative medicines, increasing government initiatives across the globe, and growing aging population & healthcare expenditure are considered to be the key factors driving the growth of the global translational regenerative medicine market. However, the higher cost of research and development and complex government approval processes are major restraints for the global translational regenerative medicine market. Growing investments in the R&D of new regenerative medicines along with constant rise growth in the aging population are expected to bring new opportunities for growth over the forecast period.
Geographically, North America is expected to be the dominating region in the market over the forecast period. Asia-Pacific is expected to be the fastest-growing region in the market. High medical reimbursement facilities and technological advancement in the region are considered to be the key factors driving the dominance of North America in the global translational regenerative medicines market. Furthermore, North America has advanced research and development base with many independent laboratories, and academic institutions conducting research on the translational regenerative medicine market in collaboration with medicine companies. Asia-Pacific is expected to be the fastest-growing region in the world owing to the rapid growth of the healthcare industry in the region.
The report on the global translational regenerative medicine market covers segments such as product type and application. On the basis of product type, the sub-markets include tissue engineered products, cell based products, and gene therapy products. On the basis of application, the sub-markets include orthopedic, dermatology, cardiovascular, neurology, oncology, diabetes, and others.
The report provides profiles of the companies in the market such as Anika Therapeutics, Nuvasive, Inc., Orthofix International N.V, Medipost, Athersys, Inc., Celgene Corporation, Vericel Corporation, Novartis, Brainstorm Cell Therapeutics Inc., and Gamida Cell Ltd.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors driving and restraining this market's growth. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the translational regenerative medicine market. Moreover, the study highlights current market trends and provides forecasts for 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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