According to analysis found in a new report, “Regenerative Medicine Market, 2014 – 2025”, the global regenerative medicine market size is expected to reach USD 5.59 billion in just eight years.
This high rate of growth is being attributed in part to the increased global geriatric age, with the World Health Organization now revealing the average life expectancy to be 71.4 years (2015). This is in addition to the increased prevalence of Neurodegenerative disorders, along with Orthopedic and other aging-related disorders. As biotechnology has advanced to seek treatments for these and other illnesses, this has lead to increased investment in the field. The biotechnology has so far enabled scientists to garner more in-depth knowledge of cell division, differentiation and mutation, as well as cell metabolism. According to a press release from Research and Markets, “this enriched knowledge, coupled with emergence of novel streams of biotechnology such as gene therapy and nanotechnology, further prospered use of cell-based technology in therapeutic treatment.”
Advancements have been made thanks to the identification of ways to use stem cells in regenerative medicine, according to the report. There has been increased coverage of such trials, and so many regenerative experts have looked to other potential fields for similar applications, such as induced pluripotent stem cells (iPSC). According to the report, the demand for global regenerative medicine exceeded USD 1.7 billion in 2016, a figure that is expected to rapidly rise over the coming years as this research has lead to a strong pipeline of potential products and treatments. The study reveals that in 2016, therapeutics emerged as the largest product segment in the market, owing to it’s high rate of usage and implementation. Where global regenerative services are concerned, demand for facilities such as tissue banks and cellular engineering tools is “expected to drive demand in the segment”.
Another key finding in the report was the impact that the emergence of gene therapy techniques has had on the industry. This has been a major driver, as treatments “Regenerative medicine grabs the attention of the healthcare industry owing to its promising applications along with significant advances in supportive fields including tissue engineering, stem cells, gene therapy, drug discovery and nanotechnology,” reads a report summary. “For instance, 3D printing over scaffold with stem cells to restore structure as well as functional characteristics of biological cells, tissues, and organs.Biologics, individually or in combination with cells or devices, are explored to support regenerate the biological functions of cells, tissues, or organs. A number of combinatorial therapies to support chemotherapy and other cancer treatments by prevention as well as treatment for cancer relapse are in development phases. In addition, rising prevalence of complicated degenerative disorders such as age-related macular degeneration, Alzheimer’s disease, and Parkinson’s disease, especially in the aging population resulted in high investments in R&D to develop therapeutic solutions.”