Asia Pacific Regenerative Medicine Market is segmented By Therapy, By Product, By Application, By End-user – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Market Overview
The Asia-Pacific Regenerative Medicine market reached US$ XX billion in 2023 and is expected to reach US$ XX billion by 2031, growing at a CAGR of XX% during the forecast period 2024-2031.
Regenerative medicine refers to the replacement or regeneration of cells, tissues, or organs to restore normal function. The field is capable of regenerating damaged tissues and organs in the body either through the replacement of damaged tissue or by stimulating the body's natural healing mechanisms.
Regenerative medicine is in high demand due to its novel potential for healing diseases, injuries, and conditions that were previously thought to be incurable or extremely difficult to manage.
Executive Summary
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Market Dynamics: Drivers & Restraints
Growing Prevalence of Chronic Diseases and Genetic Disorders
The growing prevalence of chronic diseases and genetic disorders is expected to be one of the significant factors for market growth. 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 Asia-Pacific region, this increasing incidence is increasing the demand for regenerative medicine.
The Asia-Pacific region's population is rapidly aging, resulting in a higher prevalence of age-related chronic disorders. This demographic change emphasizes the importance of regenerative medicines for improving quality of life and effectively managing chronic illnesses. For instance, according to the National Centre for Disease Informatics and Research, In 2022, the projected number of new cancer cases in India was 1,461,427, with a crude incidence rate of 100.4 per 100,000 individuals. Approximately one in nine people in India is expected to face a cancer diagnosis during their lifetime.
High Cost of Cell and Gene Therapies
The High Cost of Cell and Gene Therapies is expected to hinder the market growth. Despite potential health benefits, the high costs of cell and gene therapies are expected to reduce the adoption of these procedures. In developing countries in Asia-Pacific, it is difficult for many individuals to get treated using regenerative medicine.
Market Segment Analysis
The Asia-Pacific regenerative medicine market is segmented based on therapy, product, application, end-user and region.
Product Type:
Cell Therapy segment is expected to dominate the Regenerative Medicine market share
The cell therapy segment is expected to dominate the regenerative medicine market growth. This is due to its efficiency and the advancements occurring in this area. Cell therapy has a huge demand due to its potential therapeutic applications. The rising advancements in stem cell technologies are also contributing to the wider adoption of these procedures.
Company collaborations and new product launches are playing a crucial role in holding the segment in the dominant position. For instance, in September 2022, Alkem Laboratories, in collaboration with Stempeutics, launched the first ‘made in India’ off-the-shelf cell therapy product “StemOne” to treat Knee Osteoarthritis (OA). The company announced that it has received regulatory approval from the Drugs Controller General of India (DCGI) for the product. It is the first allogeneic cell therapy product to be approved for commercial use in India for Knee OA, the companies said in a joint statement.
Gene therapy segment is the fastest growing segment in the Regenerative Medicine market share
Gene therapy is predicted to be the fastest-growing segment in the regenerative medicine market due to its significant potential in treating genetic diseases, advancements in gene-editing technologies, and expanding clinical applications across numerous therapeutic areas. The increasing number of genetic diseases is one of the significant factors driving the segment’s growth.
Application:
Dermatology segment is expected to dominate the Regenerative Medicine market share
The dermatology segment holds a major portion of the regenerative market share. This dominance is attributed to the presence of easy grafting techniques for dermatological wounds and diseases. Skin, being an organ with great cell replication characteristics, provides various types of stem cells from its different layers.
Therefore, there is a broad range of products present, from patches to cure small injuries to matrix and grafts for chronic wounds and burns. This creates a demand for products with rising wounds and injuries. Thus, the segment is expected to continue to dominate the market through the forecast period.
Cardiovascular segment is the fastest growing segment in the Regenerative Medicine market share
The cardiovascular segment is one of the fastest growing segments in the regenerative medicine market. This is due to the growing incidence of cardiovascular diseases and the rising advancements in treating the diseases with innovative regenerative products. In recent years, regenerative medicine has been widely used to treat ischemic heart disease by employing stem cells to rebuild the missing part of the heart. These factors are driving the segment’s growth at a faster rate.
Market Geographical Analysis
India is expected to hold a significant position in the Regenerative Medicine market share
India is expected to hold a dominant share of the Asia-Pacific Regenerative Medicine Market. This is due to the rising demand for regenerative medicine in the country, and the growing prevalence of chronic and genetic disorders in the country. Increasing research and advancements in treatments are also considered one of the significant factors for the market growth in the country. The significant investments and funds for the development of regenerative medicine are also driving the market growth.
Companies are developing innovative products for the development of regenerative medicine. With the rising launches of the product launches the companies can meet the rising demands and are contributing to the market expansion. For instance, in July 2024, Bioserve India launched its advanced stem cell products in India. These new products from REPROCELL aim to support innovation in scientific research and drug development, supporting advancements in regenerative medicine and therapeutic discovery in the Indian market.
Japan is growing at the fastest pace in the Regenerative Medicine market
Japan is the fastest growing country in the regenerative medicine market. This is due to the growing advancements, the presence of strong regulatory support and the growing focus on research and development of new therapies. The country is developing and commercializing its regenerative medicine. The presence of a large number of research institutes in the country is also one of the major factors for the country’s market growth.
Market Competitive Landscape
The major players in the regenerative medicine market include Abbvie Inc., Integra LifeSciences Corporation, COOK BIOTECH, Organogenesis Inc., Sigma-Aldrich Co. LLC, Smith & Nephew, RepliCel Life Sciences, NuVasive, Inc., Sartorius AG, Bayer AG among others.
Key Developments
In October 2024, the All-India Institute of Medical Sciences (AIIMS) Bathinda reached a significant milestone by successfully conducting preliminary tests on stem cell therapy aimed at treating heart ailments. This promising development brings new hope to cardiac patients, as the institute pushes forward with research into innovative regenerative treatments.
Why Purchase the Report?
- To visualize the Asia-Pacific regenerative medicine market segmentation based on therapy, product, application, end-user, and region as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of Regenerative Medicine market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as Excel consisting of key products of all the major players.
The Asia-Pacific regenerative medicine market report would provide approximately 53 tables, 47 figures, and 176 pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
