Asia Pacific Regenerative Medicine Market size was over USD 5 billion in 2020 and is projected to observe around 20.8% growth rate between 2021 and 2027.
Regenerative medicine is field of medicinal science that aims at development of products to repair or restore functions of damaged tissues, cells, and organs. It provides advanced therapies for range of diseases with the help of stem cells and tissue engineering.
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Increasing adoption of stem cell technology for the treatment of various health conditions will augment the market revenue. Stem cell plays vital role in replacing the cells and tissues for the treatment of conditions such as arthritis, spinal cord injury and Parkinson’s disease. Thus, application of stem cells in treatment of several diseases has eventually boosted the adoption rate. In addition, stem cells allow repairing of injured joints and tissues that improves the body's ability to heal. Further, it also helps to decrease inflammation and prevent scar tissue development.
Growing prevalence of chronic diseases such as skin disorders, cancer and several infectious conditions coupled with rising demand for organ transplant will fuel the market growth in the region. According to the National Cancer Institute, in 2020, over 1.8 million people were diagnosed with cancer in the U.S. The approved regenerative medicines specified for cancer treatment therapy will provide industry expansion opportunities.
Asia Pacific Market, By Type
Cell therapy segment garnered more than 50% Asia Pacific regenerative medicine market revenue share in 2020. Cell therapy is one of the leading techniques that restore the lost function of tissue rather than developing new organ. Growing advancements in cell therapy and rise in prevalence of diseases such as cancer and cardiac abnormalities will drive the segment growth. In addition, continuous research, and advances in stem cell therapy to treat various serious conditions will lead to lucrative segment growth.
Asia Pacific Market, By Country
China will dominate the Asia Pacific regenerative medicine market during the forecast period. Growing research and development by government and different organizations to discover innovative medicines will significantly influence the market growth. Government of China approved various research activities associated to human embryonic stem cells that have helped researchers to discover the clinical potential of embryonic stem cells. Further, rising disposable income and high investment in infrastructure will offer growth opportunities for the market.
Asia Pacific Market, By Application
Musculoskeletal segment revenue will reach USD 6.5 billion by 2027. Growing prevalence of musculoskeletal diseases including rheumatoid arthritis and osteoarthritis will majorly drive the segment size. According to the report published by WHO in 2021, around 1.71 billion people were diagnosed with musculoskeletal conditions globally. In addition, elderly population is prone to musculoskeletal diseases.
Competitive Industry Landscape
Few of the established players involved in Asia Pacific regenerative medicine market include Allergan plc, TERUMO BCT, ORTHOCELL LTD, and Japan Tissue Engineering Co., Ltd., among several others. These strategic players are continuously improving their performance for better outcome and are involved in acquisitions and collaborations to cater to growing patient pool.