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APAC Regenerative Medicines Market size to cross $22 Bn by 2027
Published Date: 2021-11-19
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APAC Regenerative Medicines Market size is poised to surpass USD 22 billion by 2027, according to a latest forecast report by Graphical Research.
Rising clinical research activities for development of high effective therapies for several rare diseases will drive the market growth. Investment for innovation in stem cell therapy field is increasing and has gained traction in recent years in the region. India has several ongoing projects that have secured funding at domestic and international fronts. For instance, Stem Cell Research and Regenerative Medicine by Department of Biotechnology (DBT) mainly emphasizes on elementary to late translational research. DBT has several endowments for research available via international collaborations.
Rising pervasiveness of chronic ailments with the ever-growing risk due to changing lifestyle and habits will create demand for novel therapies. Various chronic illnesses including diabetes, eye disorders, cancer, bone and cartilage conditions among others are being explored for novel treatment alternatives using stem cell therapies. These conditions have various existing drug therapies; however, greater treatment potential of regenerative medicines will further offer lucrative opportunities. Moreover, high-cost burden of chronic diseases coupled with proven efficacy of regenerative therapies will drive the market demand.
Tissue engineering segment held over 26% market share in 2020 due to the increasing issue of organ shortage. Tissue engineering has shown huge potential and has promising applications for patients with organ failure. It assists in regeneration of organ/tissues and help during transplantation procedure. Further, its application in 3D printing will offer immense growth potential to the segment.
Browse detailed statistical insights from the report, “Asia Pacific Regenerative Medicine Market Forecast 2027 By Application (Oncology, Dermatology, Musculoskeletal, Neurology, Cardiovascular, Wound Healing, Ophthalmology), By Type (Cell therapy, Tissue Engineering, Gene Therapy), Research Report, Country Outlook (Japan, China, India, South Korea, Australia, Taiwan, New Zealand, Singapore, Philippines), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
Wound healing segment is projected to showcase around 20.1% CAGR over the projected timeframe. Regenerative medicine helps patients in restoring functions of wounded skin through re-establishment of injured cells/tissues via use of stem cell therapy and tissue engineering among others. It also speeds up healing of wounds and injuries. Thus, increasing number of sports injuries will enhance the overall demand for novel therapies, thereby stimulating market size.
Japan regenerative medicine industry is anticipated to progress at significant pace during forecast period. Several regulatory reforms in favor of development of regenerative medicine in the nation will drive the market growth. For instance, the Japanese legislature approved the Regenerative Medicine Promotion Act in May 2013. The Act aimed to instrument essential transformations to augment the advances in regenerative medicine. Later, in 2018, the Japanese Pharmaceuticals and Medical Devices Agency (PMDA) approved several regenerative medicines for cardiac disease, burns, musculoskeletal conditions and some autoimmune conditions among others.
APAC Regenerative Medicines market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2016 to 2027, for the following segments:
Asia Pacific Market, By Type
- Cell Therapy
- Tissue Engineering
- Gene Therapy
Asia Pacific Market, By Application
- Wound Healing
The above information has been provided for the following countries:
- Asia Pacific
- South Korea
- New Zealand