Injection Pen Market Size, Trends, In-depth Analysis, Regional Revenue, Forecast to 2026

 According to the new market research report "Injection Pen Market by Product Type (Disposable, Reusable Pens), Therapy (Diabetes (Insulin, GLP-1), Growth Hormone, Osteoporosis, Fertility, Autoimmune disease, Cancer), End User (Hospitals, Clinics, Home Care), and Region - Global Forecast to 2026", published by MarketsandMarkets™, the global Injection Pens Market is projected to reach USD 53.3 billion by 2026 from USD 37.6 billion in 2021, growing at a CAGR of 7.2% during the forecast period.

Globally, there is a growing demand for injection pens owing to the growing prevalence of chronic diseases, increasing number of regulatory approvals, technological advancements in injection pens and favorable reimbursement and government support. However, injection pens have certain challenges pertaining to misuse and needle-stick injuries.

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This, coupled with the preference for alternative drug delivery modes, poor reimbursement scenario in developing countries, and needle anxiety are the major factors restraining the growth of the injection pens market. However, the patent expiry of biologics which will increase the demand for biosimilars and the growth opportunities in the emerging markets are expected to offer growth opportunities for players in the injection pens market during the forecast period.

The COVID-19 pandemic did not have a significant impact on the injection pens market. Patients already using injection pens for various therapies continued to use the same during the pandemic. However, the supply chain for injection pens was disrupted due to mobility restrictions, closed borders, and a decline in overall trade. COVID-19-infected patients who received treatment are at a higher risk of becoming diabetic. Hence, growth in the incidence of diabetes will increase the demand for injection pens.

The injection pen-based devices segment holds the largest market share during the forecast period.

Based on type, the injection pens market is segmented into reusable and disposable injection pens. In 2020, the disposable injection pens segment accounted for the largest share of the overall injection pens market. The large share of the disposable injection pens segment can be attributed to its greater adoption due to lack of risk of infection or contamination of the drug, high patient compliance, and ease of handling.

The diabetes segment is expected to account for the largest share of the Injection pen market

Based on therapy, the injection pens market is divided into diabetes, growth hormone, osteoporosis, fertility, auto-immune diseases, cancer, and other therapies like migraine, obesity, and anaphylaxis. The large share of diabetes segment is mainly attributed to the high prevalence of diabetes, increasing awareness about insulin pens among diabetic patients, the rising geriatric population, and the growing availability of insulin pens in the market.

The insulin segment is expected to grow at the highest rate during the forecast period

Based on type of diabetes therapy, the injection pens market for diabetes therapy is segmented into insulin and GLP-1. In 2020, the insulin segment accounted for the highest growth of the injection pens market for diabetes therapy. The highest growth of this segment is attributed to factors such as the rising incidence of diabetes across the globe and the high dependence on insulin by diabetes patients.

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In the end user segment, home-care settings is expected to grow at the highest rate in the injection pen market

Based on end users, the injection pens market is segmented into home care settings and hospitals & clinics. In 2020, the home care settings segment accounted for the highest growth of the injection pens market. The growing geriatric population, ease of drug administration, increasing prevalence of chronic diseases, technological advancements, and favorable reimbursement scenarios are some of the key factors driving the growth of the home care settings market.

North America is expected to account for the largest share for players operating in the injection pen market

In 2020, North America dominated the global injection pens market with the largest share. The highest share of the North American injection pens market can primarily be attributed to the rising prevalence of diabetes, favorable reimbursement scenario, and the increasing number of awareness programs. The high awareness amongst the patients, increase in the disposable income of the patients and increased adoption of injection pens also contributes to the higher share of the North America in the injection pen market.

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The prominent players in the injection pens market are Novo Nordisk A/S (Denmark), Becton, Dickinson and Company (US), Ypsomed Holding AG (Switzerland), Sanofi (France), Eli Lilly and Company (US), Merck KGaA (Germany), AstraZeneca plc (UK), F. Hoffmann-La Roche Ltd. (Switzerland), Owen Mumford (UK), Sulzer Ltd. (Switzerland), Sun Pharmaceutical Industries Ltd. (India), Pfizer (US), Biocon Ltd. (India), Lupin Ltd. (India), Wockhardt Ltd. (India), AptarGroup, Inc. (US), Novartis AG (Switzerland), Gerresheimer AG (Germany), Bespak Europe Ltd. (UK), SHL Medical AG (Switzerland), Boehringer Ingelhem (Germany), Nemera France SA, Companion Medical (US), and Jiangsu Delfu Medical Devices Co., Ltd. (China).

Viral Clearance Market - Segments, Trends, Share and Forecast Growth

According to the new market research report “Viral Clearance Market by Application (Recombinant Proteins, Blood, Vaccines), End User (Pharmaceutical & Biotechnology Companies, CROs), Method (Viral Removal (Chromatography, Nanofiltration), Viral Inactivation (Low pH)) – Global Forecast”, published by MarketsandMarkets™, is expected to reach USD 724.5 million, nearly at a CAGR of 21.7% during the forecast period.

The growth is primarily driven by factors such as the growth in the pharmaceutical and biotechnology industries, increasing number of new drug launches, R&D investments in life science, advancements in nano-filtration technology, and high incidence and large economic burden of chronic diseases.

Objectives of the Study;

• To define, measure, and describe the global viral clearance market by application, method, end user, and region
• To provide detailed information about the major factors influencing market growth (drivers, restraints, challenges, and opportunities)
• To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
• To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players

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Geographically; the North American region is expected to account for the largest share of the market in 2018. The viral clearance market in the region is driven by the presence of national institutes supporting biotechnology and life science research, growth in the pharmaceuticals industry, and the increasing number of drug approvals.

However, Asia Pacific is expected to witness the highest growth during the forecast period, owing to increase in generics development and manufacturing, surge in funding for medical research and the presence of a large number of CROs to provide preclinical and clinical research services in China, government initiatives to boost the use of generic drugs, increasing aging population in Japan, rise in pharmaceutical R&D expenditures in India, and the growing pharmaceutical manufacturing in Singapore and Malaysia.

The key players in the global viral clearance market are Wuxi Biologics (Cayman) (China), Merck KGaA (Germany), Charles River Laboratories International Inc. (US), and Texcell Inc. (France), Kedrion (Italy), Vironova Biosafety (Sweden), Clean Cells (France), BSL BIOSERVICE Scientific Laboratories Munich GmbH (Germany), and ViruSure GmbH (Austria).

Merck KGaA (Germany) is one of the leading players in the viral clearance market. The company’s Process Solutions business unit offers over 15,000 products and services including single-use manufacturing, filtration, chromatography, purification, virus reduction, drug delivery compounds, and engineering and validation services. R&D is a key area of focus for Merck-it invested USD 272.3 million in R&D activities in 2017. The company strives to expand its product portfolio, build a better network for increasing its customer base, and enter new markets. The company mainly focuses on achieving organic growth to expand its geographic presence in international markets.

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The recombinant proteins segment is expected to account for the largest share.

On the basis of application, is segmented into four categories recombinant proteins, blood and blood products, vaccines, and other applications. In 2018, the recombinant proteins segment is expected to account for the largest share of the viral clearance market owing to the high potential of recombinant proteins to treat various diseases, fewer side effects, and shorter development time as compared to small molecules. Furthermore, the regulatory requirement to demonstrate the capacity of the purification process to effectively clear infectious viruses during the manufacturing of recombinant proteins is also expected to support the growth of this market segment during the forecast period.

The pharmaceutical & biotechnology companies segment is expected to account for the largest share.

By end user, the viral clearance market is segmented into pharmaceutical & biotechnology companies, CROs, academic research institutes, and other end users. In 2018, the pharmaceutical & biotechnology companies segment is expected to account for the largest share of the global market. The large share of this segment can be attributed to the rapid expansion of the biopharmaceutical industry, growth in the number of research activities in life sciences, increasing R&D investments in drug development, and increasing number of drug launches.

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Protein Expression Market Growth Opportunity and Industry Forecast

The Research Report on "Protein Expression Market by Type (Escherichia Coli, Mammalian, Yeast, Pichia, Insect, Baculovirus and Cell-free), Products (Reagents, Competent Cells, Instruments, Services), Application, End-User and Region - Global Forecast to 2025" is projected to grow at a CAGR of 13.2% during the forecast period to reach USD 4.1 billion by 2025 from USD 2.2 billion in 2020.

The growth of this market is driven majorly by the increasing incidence of chronic diseases, growth in the geriatric population, and increasing demand for protein biologics. Emerging economies are likely to create significant growth opportunities for players in the market. However, the high cost of protein expression reagents and instruments, along with increasing consolidation and high barriers for new entrants, will challenge market growth.

Recent Developments in Protein Expression Market;

- In 2020, Thermo Fisher Scientific Inc. acquired the biotechnology company, Qiagen (Germany). This acquisition will help Thermo Fisher Scientific to enhance its precision medicine portfolio through molecular diagnostics and improved life sciences solutions.

- In 2020, Merck announced plans for the construction of a new biotech development facility in Switzerland. The company will be investing USD 282.5 million for this purpose. This facility is going to strengthen the company’s presence in the protein expression market.

- In 2019, Agilent Technologies acquired BioTek Instruments (US). This acquisition expanded Agilent’s presence and expertise in cell analysis and strengthened its position in the growing immune-oncology and immunotherapy areas.

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Industry Segmentation In Detailed:

The prokaryotic expression systems segment accounted for the largest share of the protein expression market.

Based on system type, the market is segmented into prokaryotic expression systems, mammalian cell expression systems, insect cell expression systems, yeast expression systems, cell-free expression systems, and algal-based expression systems. The prokaryotic expression systems segment accounted for the largest share of the global protein expression market in 2019. The large share of this segment is attributed to the low cost and ease of use of prokaryotic expression systems.

The reagents segment accounted for the largest share of the protein expression industry in 2019.

Based on product and service, the protein expression industry is segmented into reagents, expression vectors, competent cells, instruments, and services. The reagents segment accounted for the largest share of the market in 2019. The large share of this segment is mainly due to the increasing research activities in the field of protein expression and the large-scale production of antibodies and vaccines.

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Leading Key Players and Analysis:

The prominent players in Protein Expression Market include Thermo Fisher Scientific Inc. (US), Merck KGaA (Germany), Agilent Technologies, Inc. (US), Genscript Biotech Corporation (US), Takara Bio, Inc. (Japan), Bio-Rad Laboratories (US), Lonza (US), Promega Corporation (US), New England Biolabs (US), Oxford Expression Technologies Ltd. (US), and Synthetic Genomics Inc. (US).

Merck KGaA was the second-largest player in the protein expression market. Merck has a diversified range of protein expression systems, such as algal-based expression systems, mammalian cell expression systems, prokaryotic expression systems, yeast cell expression systems, and insect cell expression systems. Moreover, the company also offers a range of expression vectors, reagents, and competent cells for the protein expression market. The company runs several long-term fundamental research programs in biology and chemistry as well as research programs directed toward product development. The company’s research and development model is designed to increase productivity and improve the probability of success by prioritizing projects which will lead to innovations in the pharmaceutical industry.

Geographical Analysis in Detailed:

Asia Pacific is expected to grow at the highest rate in the Protein Expression Market. The major factors driving the growth of this market include high incidence of chronic diseases, increasing public and private investments, and increase in life sciences research.

North America dominated the protein expression sector, followed by Europe. The major factors driving the growth of this market include the increasing incidence of chronic diseases, growth in the geriatric population, and increasing demand for protein biologics.

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North American Radiation Protection Apron Market with Huge Growth Opportunities, Competitive Landscape

According to the new market research report "North American Radiation Protection Apron Market by Type (Front Protection, Vest & Skirt, Full Wrap, Pregnancy Lead Apron), Material (Lead Apron, Light Lead Composite Apron, Lead Free Apron), Country (US, Canada) - Forecast to 2026", published by MarketsandMarkets™, the global market is projected to reach USD 48 million by 2026 from USD 35 million in 2021, at a CAGR of 6.9% during the forecast period.

Browse in-depth TOC on "North American Radiation Protection Apron Market"
54 – Tables
25 – Figures
106 – Pages

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The growth of the North American radiation protection aprons market is being driven by factors such as increasing number of trained radiologic technologists, increasing safety awareness, the growing number of orthopedic and spine surgeries, and growth in the number of PET/CT scans.

The front protection aprons segment is expected to grow at the highest CAGR and hold largest share during the forecast period for the largest share in 2020.

Based on type, the North American radiation protection aprons market is segmented into front protection aprons, vest & skirt aprons, and other aprons. In 2020, the front protection aprons segment accounted for the largest share of this market primarily due to the wide availability and high usage of these aprons in dental clinics and hospital settings.

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US was the largest country market for the North American radiation protection aprons market in 2020

Based on country, the North American radiation protection apron market is segmented into the US and Canada. The growth of the North American market can be attributed to increasing awareness of radiation safety, the increasing number of radiography procedures performed, and ongoing research aimed at the development of new and advanced radiation protection products. In 2020, the US accounted for the largest share of the radiation protection aprons market. The large share can be attributed to the increasing number of radiography procedures performed and the rising number of healthcare professionals that use radiography equipment.

The major players operating in the North American radiation protection aprons market include Infab Corporation (US), Bar-Ray Products (US), AliMed, Inc. (US), Burlington Medical (US), Shielding International, Inc. (US), Protech Medical (US), AADCO Medical, Inc. (US), Lite Tech (US), Barrier Technologies (US), and BLOXR Solutions (US).

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Amniotic Products Market - Analysis of Worldwide Industry Trends and Opportunities

The Research Report on "Amniotic Products Market by Type (Amniotic Membranes (Cryopreserved Amniotic Membranes, Dehydrated Amniotic Membranes), Amniotic Suspensions), Application (Wound Care, Ophthalmology, Orthopedics), End User (Hospitals, ASCs) - Global Forecast to 2026", the global Amniotic Membranes Market is projected to USD 1.0 billion by 2026 from USD 0.7 billion in 2021, at a CAGR of 8.2% during the forecast period.

Growth Driver: Rising incidence of burn injuries;

The high incidence of burn wounds has resulted in a significant increase in the demand for wound care biologics, including amniotic membranes. According to the WHO, a majority of burn cases occur in low- and middle-income countries, and almost two-thirds occur in the WHO African and Southeast Asian regions. For instance, in India, 1 million people suffer from moderate and severe burns every year (Source: WHO). The incidence of burns is also high in other Southeast Asian countries such as Bangladesh and Nepal. An estimated 173,000 children suffer from moderate or severe burns in Bangladesh every year. In Nepal, burns are the second-most common injury, accounting for 5% of all disabilities.

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Industry Segmentation In Detailed:

The growth in Amniotic Membranes Market can be attributed to the growth in the target patient population, rising incidence of burn injuries, awareness programs for wound care treatment and management, rising venture capital investments and government funding, increasing number of traumatic wounds, growing number of amniotic membrane transplantations, and the increasing number of ophthalmology, cosmetic, and orthopedic surgeries. Emerging economies, implementation of the 21st-century cures act, and increasing demand for stem cell research and regenerative medicine are expected to offer strong growth opportunities for players in the market.

Amniotic membrane segment dominated the Amniotic products market in 2020.

Based on type, segmented into amniotic membranes and amniotic suspensions. Amniotic membrane account for the largest share of the amniotic products market. The large share of this segment can be attributed to its increased use in a number of procedures. Moreover, amniotic membranes are more effective than amniotic suspensions.

The wound care segment to witness the highest CAGR during the forecast period.

Based on application, segmented into wound care, ophthalmology, orthopedics, and other applications. The wound care applications segment commanded the largest share of the amniotic products market. . The large share of this segment can be attributed to the growing incidence of ulcers, traumatic and surgical wounds, and burns and the need for advanced technologies for treatment.

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Leading Key Players and Analysis:

The global amniotic products market is consolidated. The prominent players operating in this market include MiMedx (US), Smith & Nephew (UK), Organogenesis Inc. (US), Integra LifeSciences (US), Stryker (US), Applied Biologics (US), Celularity, Inc. (US), Katena Products, Inc. (US), Lucina Biosciences (US), Skye Biologics Holdings, LLC (US), Surgenex (US), TissueTech, Inc. (US), and Ventris Medical, LLC (US).

MiMedx (US) is the leading player in the amniotic products market in 2020. The company has two distribution channels—direct to customers (healthcare professionals and/or facilities) and sales through distributors. The company has a strong presence in the US and is considering business expansion primarily in Europe and the Asia Pacific.

Smith & Nephew (US) accounted for the high share of the amniotic products market in 2020. The company has a wide geographical presence across the US, Europe, Africa, Asia, Australia, and the Middle East, operating in more than 100 countries. In the past three years, the company reported a continuous increase in revenue and R&D expenditure, which has helped it in developing novel products in the market.

Geographical Analysis in Detailed:

The amniotic products market is segmented into five major regions, namely, North America, Europe, Asia Pacific, Latin America and the Middle East & Africa (MEA). North America was the largest regional market for Amniotic Membranes Market in 2020. North America is expected to hold the largest market share and highest market growth during the forecast period. The large share of the North American market can be attributed to high prevalence of target diseases, increasing geriatric population, rising awareness about advanced treatment options, and the strong presence of key market players in the region.

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Lymphedema Diagnostics Market - Growth by Top Key Players and Forecast Analysis

The Research Report on “Lymphedema Diagnostics Market by Technology (Lymphoscintigraphy, MRI, Near IR Fluorescence Imaging, Ultrasound), Disease Type (Cancer, Inflammatory Diseases, Cardiovascular, Filariasis), End User (Hospitals, Diagnostic Centers) – Global Forecasts to 2024″, is projected to reach USD 35 million by 2024 from USD 24 million in 2019, at a CAGR of 7.4%

Market Size Estimation;

Both top-down and bottom-up approaches were used to estimate and validate the total size of the lymphedema diagnostics market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

• The key players in the industry and markets have been identified through extensive secondary research.
• The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
• All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation;

After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. In order to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the market.

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Industry Segmentation In Detailed:

The lymphoscintigraphy segment accounted for the largest share of the lymphedema diagnostics market in 2018.

Based on technology, segmented into lymphoscintigraphy, magnetic resonance imaging (MRI), ultrasound imaging, computed tomography (CT), X-ray lymphography, bioimpedance analysis, and near-infrared fluorescence imaging. In 2018, the lymphoscintigraphy segment accounted for the largest share of the lymphedema diagnostics market. The noninvasive nature and easy reproducibility of this technology, and the fact that lymphoscintigraphy does not adversely affect the lymphatic vascular endothelium are some of the key advantages supporting the adoption of this technology.

The cancer segment accounted for the largest share of the lymphedema diagnostics market in 2018.

On the basis of disease type, segmented into cancer, inflammatory diseases, cardiovascular disease, and other diseases (congenital abnormalities, trauma-related conditions, infections, and filariasis). The cancer segment accounted for the largest share of the lymphedema diagnostics market in 2018. The large share of this segment can be attributed to the rising prevalence of cancer-associated lymphedema and increasing awareness about early disease diagnosis.

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Leading Key Players and Analysis:

The major players operating in the lymphedema diagnostics therapy market are GE Healthcare (US), Philips (Netherlands), and Siemens Healthineers (Germany). Other prominent players in this market include Canon, Inc. (Japan), Shimadzu Corporation (Japan), Stryker Corporation (US), Fluoptics (France), United Imaging Healthcare Co., Ltd. (China), Hitachi, Ltd. (Japan), Esaote, SpA (Italy), Neusoft Corporation (China), Mindray Medical International, Ltd. (China), Mitaka USA, Inc. (US), Curadel, LLC (US), and ImpediMed Ltd. (Australia).

GE Healthcare (US) is one of the leading players in the global lymphedema diagnostics market. To sustain its leadership position and ensure its future growth, the company has been focusing on product launches and agreements, partnerships, and collaborations as its key strategies. The company has also been focusing on geographic expansions and the development of low-cost equipment specifically for developing nations. For instance, in May 2017, the company collaborated with the Government of Egypt to supply a wide range of technologies and train doctors, nurses, and technicians about advanced imaging systems in over 200 Egyptian hospitals. With a wide product portfolio and strong geographic presence, the company is expected to witness significant growth in the lymphedema diagnostics market in the coming years.

Geographical Analysis in Detailed:

The lymphedema diagnostics therapy market is segmented into four regional segments, namely, North America, Europe, the Asia Pacific, and the Rest of the World. The large share of North America can be attributed to factors such as the easy availability and rapid adoption of technologically advanced imaging systems; high incidence/prevalence of lymphedema; and the strong, well-established healthcare systems. The market in the Asia Pacific is expected to grow at the highest rate, followed by Europe.

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Freeze-Drying Equipment Market - Segmentation, Major Players & Geographical Analysis

The Research Report on “Freeze-Drying/Lyophilization Market by Type (Tray, Shell, Manifold), Scale of operation (Industrial, Lab, Pilot), Application (Food, Pharma & Biotech), Accessories (Loading & Unloading, Monitoring, Vacuum Systems, Drying Chambers) – Global Forecast to 2025″, the global freeze-drying equipment market is projected to reach USD 7.3 billion by 2025 from USD 4.9 billion in 2020, at a CAGR of 8.2% from 2020 to 2025.

Growth Drivers: Increasing demand for food preservation;

Lyophilization equipment is used for the preservation of various food products, such as fruits and vegetables, meat, fish, herbs and food flavorings, ice creams, and coffee. Freeze-dried foods do not need to be refrigerated or preserved with chemicals and can be reconstituted quickly and easily by adding water. Another major advantage of freeze-drying of food is its ability to produce clean, whole, and nutritious food ingredients with a highly prolonged shelf life (making food products versatile and accessible).

The use of freeze-dried foods is increasing for astronauts and military personnel, as conventional drying methods have major disadvantages. For instance, the high temperatures used can cause chemical or physical changes in food products, and their overall quality is not on par with freeze-dried food products. Considering these advantages, the use of freeze-drying as a food preservation technique is increasing across the globe.

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Industry Segmentation In Detailed:

The tray-style freeze dryers segment accounted for the largest market share in 2019.

Based on type, the freeze-drying/lyophilization equipment market is classified into tray-style freeze dryers, manifold freeze dryers, and shell (rotary) freeze dryers. In 2019, the tray-style freeze dryers segment accounted for the largest share of 72.1%. This segment is also estimated to grow at the highest CAGR of 8.2% during the forecast period. Growth in this market is largely driven by factors such as the increasing demand for contract manufacturing and contract lyophilization services in the pharmaceutical industry, the growing commercialization of labile drugs, and the rising demand for freeze-dried food products. Tray-style freeze dryers are also larger than manifold and rotary freeze dryers, enabling them to dry products in bulk.

The industrial-scale lyophilization equipment segment accounted for the largest market share in 2019.

Based on scale of operation, the freeze-drying/lyophilization equipment market is segmented into industrial-scale lyophilization equipment, pilot-scale lyophilization equipment, and laboratory-scale lyophilization equipment. In 2019, the industrial-scale lyophilization equipment segment accounted for the largest share of 68.2% of the market. The large share of this market segment can be attributed to the high standard of quality provided by industrial-scale lyophilization equipment. Industrial-scale lyophilization equipment can also be customized as per process requirements.

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Leading Key Players and Analysis:

Some of the prominent players in Freeze-Drying Market are GEA Group (Germany), Azbil Corporation (Japan), Shanghai Tofflon Science Technology Co., Ltd. (China), IMA S.p.A. (Italy), SP Industries, Inc. (US), HOF Enterprise Group (Germany), Labconco Corporation (US), Martin Christ Gefriertrocknungsanlagen GmbH (Germany), Millrock Technology, Inc. (US), and OPTIMA Packaging Group GmbH (Germany).

Geographical Analysis in Detailed:

The freeze-drying/lyophilization equipment market is segmented into five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2019, the Asia Pacific accounted for the largest share of 34.6% of the market and is projected to register the highest CAGR of 10.4% during the forecast period. The large share of the Asia Pacific regional segment can be attributed to the rising number of investments in this region, growth in R&D expenditure, and geographic expansion of lyophilization equipment companies in this region. Moreover, the presence of major players in the lyophilization market in the APAC region and the expansion of the manufacturing units of leading pharma companies in this region is expected to boost the market growth in this region in the forecast period.

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Regenerative Medicine Market Size, Share, Outlook, Industry Analysis Report 2020

The Research Report on "Regenerative Medicine Market by Product (Cell Therapies (Autologous, Allogenic), Stemcell Therapy, Tissue-engineering, Gene Therapy), Application (Wound Care, Musculoskeletal, Oncology, Dental, Ocular), Geography - Global Forecast to 2025", is projected to reach USD 17.9 billion by 2025 from USD 8.5 billion in 2020, at a CAGR of 15.9%.

Growth Driver: Growing prevalence of chronic diseases, genetic disorders, and cancer;

Over the last few decades, the incidence and prevalence of chronic diseases such as CVD, cancer, diabetes, ulcers, and genetic disorders such as cystic fibrosis have increased significantly across the globe. Diabetes and obesity can result in the increased incidence and complexity of wounds such as infections, ulcerations (leg or foot ulcers), and surgical wounds, which require treatments and incur exorbitant medical expenses.

Growth Opportunity: Implementation of the 21st Century Cures Act;

The 21st Century Cures Act was signed into law in the US in December 2016. Among other objectives, this new law has been enacted to advance regenerative medicine research and medical innovation and covers various provisions that may impact the development and approval of several products in the coming years.

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Industry Segmentation In Detailed:

The tissue-engineered products segment accounted for the largest share of the regenerative medicine market, by product segment, in 2019

Based on products, segmented into tissue-engineered products, cell therapies, gene therapies, and progenitor and stem cell therapies. The tissue-engineered products segment accounted for the largest share in the regenerative medicine market in 2019. The increasing adoption of tissue-engineered products for the treatment of chronic wounds and musculoskeletal disorders and the rising funding for the R&D of regenerative medicine products and therapies are the major factors driving the growth of this segment.

Oncology segment to register the highest growth rate during the forecast period

Based on applications, the regenerative medicine market is segmented into musculoskeletal disorders, wound care, oncology, ocular disorders, dental, and other applications. In 2019, the oncology segment accounted for the highest growth rate. This can be attributed to the rising prevalence of orthopedic diseases, growing geriatric population, increasing number of stem cell research projects, growing number of clinical researches/trials, and the rich pipeline of stem cell products for the treatment of musculoskeletal disorders.

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Leading Key Players and Analysis:

The major players operating in Regenerative Medicine Market are 3M (US), Allergan plc (Ireland), Amgen, Inc. (US), Aspect Biosystems (Canada), bluebird bio (US), Kite Pharma (US), Integra LifeSciences Holdings Corporation (US), MEDIPOST Co., Ltd. (South Korea), Medtronic plc (Ireland), Anterogen Co., Ltd. (South Korea), MiMedx Group (US), Misonix (US), Novartis AG (Switzerland), Organogenesis Inc. (US), Orthocell Limited (Australia), Corestem, Inc. (South Korea), Spark Therapeutics (US), APAC Biotech (India).

Novartis AG (Switzerland) Novartis AG is one of the the largest player in the regeneartive medicine market in 2019. In order to maintain its position in the market, the company has been focusing on the innovations, and breakthrough product approvals for the treatment of cancer. For instance, in August 2017, Novartis received the FDA approval for CAR-T cell therapy, Kymriah (CTL019), which is used for the treatment of cancer. Kymriah got the EU approval in August 2018. Novartis also focused on the inorganic strategies in order to enhance their dominance in the regenerative medicine market. For instance, Novartis received EU approval for one-time gene therapy, Luxturna, developed by Spark Therapeutics, to restore vision in people with rare and genetically-associated retinal disease.

Geographical Analysis in Detailed:

The regenerative medicine market is segmented into four major regions, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW). In 2019, North America accounted for the largest share in the market. The growth in the North American market can be attributed to rising stem cell banking, tissue engineering, and drug discovery in the region; expansion of the healthcare sector; and the high adoption of stem cell therapy and cell immunotherapies for the treatment of cancer and chronic diseases.

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MarketsandMarkets analysis says that a Potential Opportunity Worth $50 Bn is opening up in Genomics

As Genome Sequencing heads to $100 Direct-to-Consumer, a potential opportunity worth $50 Bn is expected to open up, leading to a million terabytes of genome data by 2025.

The genome sequencing market will reach $25 Bn by 2026, further intensified by COVID-19, and oncology and rare disease diagnostics coupled with pan genome studies. Adjacent markets of data storage, high performance computing (HPC), lab automation, and AI are anticipated to see unlocking of a further $20 Bn.

According to MarketsandMarkets analysis,

• $50 Bn of potential opportunity is opening up as genome sequencing heads to $100 direct-to-consumer, which was one of the most talked-about trends in 2021.
• The global genomic studies and projects comprising advanced genetic sequencing is expected to drive better clinical decision-making in the coming years, presenting lucrative growth opportunities to NGS companies.
• Additionally, the life sciences market is witnessing an increased adoption of AI, personalized healthcare, gene editing, etc., which is likely to disrupt the demand for genomics, in turn impacting the growth of the market.
• The increasing demand for sequencing and bioinformatics in diagnostics is predicted to disrupt the demand for IVD over the next few years.

MarketsandMarkets is focused on high-growth, niche markets, such as AI in genomics, spatial genomics & transcriptomics, liquid biopsy, single-cell analysis, and related markets, providing a comprehensive understanding of the entire genomics ecosystem through the World’s First Market Intelligence Cloud, 'KnowledgeStore'. It helps find blind spots in clients’ revenue decisions because of interconnections and unknowns that impacting clients and their client’s clients.

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