US Regenerative Medicine Market 2024–2033

Reports Description

As per the current market research conducted by the CMI Team, the US Regenerative Medicine Market is expected to record a CAGR of 9.6% from 2023 to 2032. In 2022, the market size is projected to reach a valuation of USD 213.1 Million. By 2032, the valuation is anticipated to reach USD 530.2 Million.

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The key factors propelling the growth of the market are the increasing awareness and preference for the usage of stem cells, tissue engineering, and gene therapies. The rising number of patients requiring these treatments has expanded the reach of the regenerative medicine market in the North American region.

According to medical research, at least 40,000 infants born in the U.S. each year are expected to be affected by congenital heart defects. About 25% of 2.4 (per 1,000 live births) require treatment in the first year of life. In addition, the prevalence of atrial fibrillation is estimated to rise to 12.1 million by the year 2030.

U.S. Regenerative Medicine Market Growth Factors

The increasing investment in the regenerative medicine market coupled with the prevalence of chronic diseases has provided the requisite boost to the expansion of the market in the North American region.

• Organ failures: The rising cases of organ failure amongst the population have led to the demand for organ transplants. These health conditions arise from severe infection and heart disease amongst other reasons. Regenerative medicines are widely used in transplant procedures as they aid in the restoration of damaged tissues or entire organs.

• Chronic diseases: The number of chronic diseases such as diabetes, ulcer, cancer, genetic disorders, and cancer are increasing rapidly. According to research by the Centers for Disease Control and Prevention (CDC), at least 26.9 million people in the U.S. are diagnosed with diabetes. They account for approximately 10.5% of the total population of the country.

• High spending: As a result of high spending and disposable income in the U.S., its regenerative medicine market garnered a revenue of USD 15 billion in 2020. The healthcare initiatives by government bodies and private infrastructure also strengthen the market size. In 2020, the U.S. Department of Health and Human Services introduced ‘A New Vision’ which put regenerative medicine at the head of healthcare initiatives.

Overall, the increase in chronic diseases affecting the North American population and the high investment in healthcare will back the growth of the regenerative medicine market in the region.

U.S. Regenerative Medicine Market - Mergers and Acquisitions

The North American Regenerative Medicine Market has seen several mergers and acquisitions in recent years. These are seen as strategic moves by the pharma companies in a bid to expand their reach and grow their business. Some notable examples include:

• Smith & Nephew Plc Acquisition of Osiris Therapeutics: The global medical technology business, Smith & Nephew acquired Osiris Therapeutics, Inc. in April 2019. With the acquisition, Smith & Nephews Plc hopes to expand its presence in the wound care segment.

• AbbVie Acquisition of Allergan Plc: In May 2020, AbbVie a research-based global biopharmaceutical company acquired Allergan Plc. The move is expected to put AbbVie in a leadership position in key areas of hematologics, Allergan aesthetics, immunology, neuroscience, and oncology.

• Cook Biotech Acquisition of AcuityBio: In May 2021, Cook Biotech Inc., strengthened its technology portfolio by acquiring AcuityBio Inc. The latter is a developer of innovative drug-delivery combination products. This acquisition boosts both companies’ commitment to providing new therapies that improve the lives of patients suffering from lung and other types of cancers.

These mergers and acquisitions have allowed pharmaceutical companies to expand their product offerings and increase their footprint in new territories.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

U.S. Regenerative Medicine Market - Significant Threats

The North American Regenerative Market faces several significant threats that could impact its growth and reach. Some of these threats include:

• Expensive treatment: The technology used in manufacturing regenerative medicines, and therapies is expensive and thus affects the price factor, proving to be a deterrent to the citizens.

• Ethical concerns: Restrictions are placed on stem cell therapy’s funding and use under the US Congress's power to spend. One reason is that a section of the population believes that using human embryonic cells for medical research means destroying the embryo. They believe that an embryo is the start of a life.

• Health concerns: It has come to light that adult stem cells may be unable to manipulate to produce all cell types. This limits the usage of cells in the treatment of diseases. Besides, there is the possibility that adult stem cells may contain abnormalities arising from environmental hazards, like toxins, or errors acquired by the cells during replication.

Overall, these threats pose significant challenges for the North American Regenerative Medicine Market and require bringing together manufacturers, developers, government bodies, and citizens to address concerns.

Report Scope

Category-Wise Insights

By Type:

• Cell therapy: The cell therapy segment will observe around an 18% growth rate during the forecast period, 2021-2028. This will be boosted by a growing number of clinical studies for cell therapies. In February 2021, RepliCel announced the commercialization and clinical testing of three more technologies in Japan. These technologies include two cell-based therapies one for skin regeneration and the other for tendon rejuvenation.

• Dermatology: The dermatology segment is projected to garner the largest revenue size. Easy grafting techniques for diseases, burns, and wounds, and accessibility of a wide range of products are some of the factors for this market dominance.

By Application

• Musculoskeletal segment: Over 30% of North America’s regenerative medicine market share in 2020 was dominated by the musculoskeletal segment. One of the important reasons for this growth is the rising prevalence of orthopaedic conditions. This is compounded by the increasing geriatric population. According to the Population Reference Bureau, the US population aged 65 and older is estimated to nearly double from 52 million in 2018 to 95 million by 2060.

U.S. Regenerative Medicine Market – Regional Analysis

The North American regenerative medicine market can be analyzed based on government initiatives, investment in the healthcare sector, and private funding for building the infrastructure.

• The U.S. regenerative medicine market registered USD 15 billion in revenue in 2020. Some of the reasons can be attributed to a willingness to spend on healthcare and increasing disposable income in the country.

• The favourable inclination of the government and private research organizations to invest and boost research and development in the regenerative medicine market contributes to its growth. For instance, in 2020, the U.S. Department of Health and Human Services put forth ‘A New Vision’ that recognizes regenerative medicine as the lead of healthcare.

• The technological progress in medical equipment has brought about a revolution in the tissue engineering and regenerative medicines segment. Several pharmaceutical companies have focused on innovative developments to provide instruments for tissue engineering, organ regeneration, regenerative medicine, and organ transplantation markets. These are attempts to push for the commercialization of surgical instruments that can make medical procedures simpler, accessible, and cost-effective.

• Similarly, the progress made in medical automation technologies has emphasized the commercial market. As a result, the manufacturers focus on innovative regenerative medical solutions.

Overall, there is an increasing potential in the North American Regenerative Medicine Market to grow in new directions. Pharmaceutical companies are trying to innovate and come up with more measures to make the medicine procedures simpler and accessible to the population. They are aided in their effort by government bodies.

U.S. Regenerative Medicine Market – Competitive Industry Landscape

Here are some of the key players in the North American regenerative medicine market and a brief overview of each company:

• Organogenesis Inc: Organogenesis Holdings Inc. is recognized for its portfolio of bioactive and acellular biomaterials products. It focuses on segments like surgical biologics and advanced wound care, particularly spine, orthopaedics, and degenerative conditions. The company's sports medicine products come in aid of people dealing with musculoskeletal injuries.

• Osiris Therapeutics (Smith & Nephew): A fast-growing company, Osiris Therapeutics manufactures products for bone grafts, articular cartilage substitutes, and skin. One of its biggest products is TruSkin, a cryopreserved, living skin allograft. It is a new option for treating chronic and large wounds.

• AbbVie Inc., (Allergan Plc): Abbvie Inc. leads in treating several health conditions including immunology, eye care, and oncology. The company has also introduced more than 30 brands in the market. It hopes to cover big strides in drug and treatment recovery, making a positive impact on the lives of the people.

• Cook Medical (Cook Biotech Incorporated): The company specializes in developing advanced biomaterials for site-specific tissue remodelling derived from extracellular matrices. Cook Medical is committed to providing advanced tissue repair products for improving patients’ lives. The company’s mission is to develop devices that are less invasive for patients.

• Integra Lifesciences: A medical device manufacturing company, known globally, Integra Lifesciences manufactures products for skin regeneration, reconstructive and general surgery, and neurosurgery. It is also focused on building its portfolio through the extensive development of soft tissue reconstruction.

• Stryker Corporation: A Fortune 500 medical technologies firm, Stryker Corporation, manufactures include implants used in joint replacement. It is a recognized name in supplying medical devices used in hospitals. It is determined to cover all aspects of healthcare, from Emergency Medical Services to Intensive Care Unit, and home care.

• Avalon Globocare Corp: A healthcare management company, Avalon Globocare is focused on manufacturing high-impact biomedical innovation and technologies. The company works on biopreservation tools in the regenerative medicine segment and supplies chemically defined GMP media for cryopreservation. It is also dedicated to manufacturing and supplying novel clinical laboratory and diagnostics services.

• Intellia Therapeutics: Intellia Therapeutics is a clinical-stage biotechnology firm with a focus on developing curative therapeutics through the use of CRISPR-based technologies. The company specializes in genome editing. In the pipeline are the building of in vivo and ex vivo therapies, besides its continued focus on developing modular platform capabilities.

These are some of the key players in the U.S. Regenerative Medicine Market that are known for their diverse product offerings and strong brand reputation.