Regenerative Medicine Market - By Type (Cell Therapy, Tissue Engineering, Gene Therapy), By Application (Oncology, Dermatology, Musculoskeletal, Neurology, Cardiovascular, Wound Healing, Ophthalmology), Global Forecast (2023-2032)

Regenerative Medicine Market - By Type (Cell Therapy, Tissue Engineering, Gene Therapy), By Application (Oncology, Dermatology, Musculoskeletal, Neurology, Cardiovascular, Wound Healing, Ophthalmology), Global Forecast (2023-2032)

Regenerative medicine market size will grow at 20.4% CAGR from 2023 to 2032. The aging global population is increasing the prevalence of chronic diseases, creating high demand for regenerative therapies. The rising advancements in stem cell research, gene therapy, and tissue engineering are also expanding the availability of treatment options for making regenerative medicine more viable and effective worldwide. For instance, in January 2022, Novartis initiated a strategic partnership with Alnylam to harness the latter’s proprietary siRNA technology in a bid to create a new therapy for stimulating the regeneration of functional liver cells.

Increasing investments and funding for expediting research and development activities in regenerative medicine can be attributed to the surging regulatory support and streamlined approval processes. The rising potential for personalized medicine and the higher focus on treating previously incurable conditions for attracting both patients and healthcare providers will also contribute to the industry expansion.

The regenerative medicine industry is categorized based on type, application, and region.

Based on type, the industry value from the gene therapy segment is projected to increase at substantial CAGR from 2032 to 2032, driven by advancements in genetic engineering techniques and the surging funding for gene therapy research. The potential of gene therapy to treat previously untreatable genetic disorders will also push the segment growth.

The neurology application segment is anticipated to account for sizeable revenue share of the regenerative medicine market during the forecast period. The rising prevalence of neurological disorders, such as Alzheimer's and Parkinson's disease is making way for the development of innovative stem cell-based therapies. In addition, the growing aging population and increasing research funding will drive the segment growth.

Regionally, the Asia Pacific regenerative medicine industry will expand at a robust CAGR during 2023-2032. The growth can be attributed to the growing aging population and increasing healthcare infrastructure in the region. The rising investments in research and development and the rollout of favorable government initiatives will also contribute to the burgeoning demand for regenerative therapies in the region.