Advances in tissue-engineering therapy to impact the regenerative medicine market growth.
The global regenerative medicine market was valued at USD 4.67 billion in 2020 and is projected to reach 27.08 billion in 2026 growing at a CAGR of 30.14% according to a report by Arizton. The global regenerative medicine market's positive trend and growth are attributed to the high prevalence and incidence rates of diseases such as cancers and genetic disorders worldwide. Additionally, the growing prevalence of cardiovascular diseases (CVDs) and diabetes is resulting in complications such as diabetic foot ulcers and venous leg ulcers, which is driving the demand for cell and gene therapy and tissues.
Some of the trends and opportunities in Regenerative Medicine Market are-
1) Latest Advances in Tissue-engineering Therapies
Tissue engineering is a crucial therapeutic segment in regenerative medicine, which deals with the wound healing process and cartilage repairs using tissue scaffolds. Tissue scaffolds are being increasingly incorporated in regenerative medicine products. Technological advances in manufacturing and fabricating tissue scaffolds will promote the acceptance and penetration of these tissue-engineering products.
2) Robust Product Pipeline of Regenerative Medicine Companies
Several vendors have shifted their focus on new innovative therapies to build strong product portfolios and pipeline products. These vendors actively conduct clinical trials for products in their pipeline to achieve regulatory approvals in the US and countries in the European region. Thus, such initiatives by key players in the market will drive the growth of the global regenerative medicine market.
3) Strategic Acquisitions by Regenerative Medicine Companies
Mergers and Acquisitions are the latest trends in the regenerative medicine market. Most key vendors in the market are acquiring highly successful companies with considerable expertise in cell and gene therapy to enter the market or expand their presence. In addition to the M&A activities, collaborations and partnerships are major trends in the sector. In recent years, the merger and acquisition activities in the market were valued at $ 33 billion.
4) Increasing Demand for CAR T-cell and Gene Therapies
CAR T-cell therapy is fast gaining popularity in recent years due to the highly personalized nature of this therapy and the utilization of advanced genetic engineering technology. CAR T-cell therapy has some important advantages that may not be available with other drugs that are used for cancer treatment. The most important advantage is remission that patients achieve in the case of blood cancer. This means that people will not witness relapsing tumor episodes once treatment is given. This saves medical costs and helps achieve a better quality of life.
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