Regenerative Medicine Market Report 2023-2033
The Regenerative Medicine Market Report 2023-2033: This report will prove invaluable to leading firms striving for new revenue pockets if they wish to better understand the industry and its underlying dynamics. It will be useful for companies that would like to expand into different industries or to expand their existing operations in a new region.
Growing number of Joint Ventures to fuel market growth
The demand for breakthrough techniques in tissue engineering, cell therapy, and stem cell use is increasing due to the rising prevalence of chronic diseases and clinical trials. Continuous joint ventures, mergers, acquisitions, and other strategic activity by various companies is helping the regenerative medicine market thrive. For instance, in October 2022, Dr. Vanessa Rodriguez Pares and Meso Numismatics, Inc. (MSSV), a biotech and numismatics-focused technology company, partnered with the new STEM LIFE clinic facility. This collaboration aims to promote regenerative medicine's high standards. Similar to this, Astellas Pharma Inc. and Pantherna Therapeutics GmbH entered into a technology evaluation agreement in October 2022 to carry out research to create mRNA-based regenerative medicine programmes employing direct reprogramming (trans-differentiation). Additionally, in October 2020, the world's largest pharmaceutical corporation Bayer bought Asklepios BioPharmaceutical, a gene therapy business with operations in San Sebastián, Spain, Edinburgh, and Paris, in a deal valued at up to US$ 4 billion. Such actions significantly influence the market for regenerative medicine's growth pace.
Product Recalls may hamper the market growth
Regenerative medicine is a speedily evolving field and involves the use of wide array of techniques to repair or replace damaged tissues and organs. With the increasing popularity and use of these products, there have been instances of product recalls in the regenerative medicine market. The growth of the regenerative medicine market can be impeded owing to the increasing number of product recalls. Biotech companies continue to face difficulties such as risk of product recalls and marketing their genetic medicine in the market. For instance, Bluebird Bio, a US-based gene therapy company, withdrew its gene therapy for a rare blood disorder from the German market in April 2021 after failing to reach an agreement on the treatment's cost with German health authorities. This recall impacted the company’s sales and brand image. Similarly, small-scale companies are severely affected as they fail to recover from losses due to product recalls because they operate without robust cash flow and brand recognition.
What Questions Should You Ask before Buying a Market Research Report?
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook