Regenerative Medicine Market Size

Regenerative Medicine Market size was over USD 48.02 billion in 2023 and is poised to cross USD 341.95 billion by the end of 2036, growing at more than 16.3% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of regenerative medicine is estimated at USD 54.28 billion.

The growth of the market can be attributed to the increasing incidence of cancer & diabetes, along with the rising incidences of cardiovascular diseases. According to the statistics by the World Health Organization (WHO), Europe accounted for 23.4% of the global cancer cases and 20.3% of the cancer deaths in the year 2018. Further, the statistics also stated that America had 13.3% of the global population, out of which, cancer incidences accounted for 21.0% and mortality due to cancer was registered to 14.4% in the same year. Additionally, the percentage of cancer deaths in Asia and in Africa, which registered to 57.3% and 7.3% respectively, were higher than the percentage of incident cases in both the nations with 48.4% and 5.8% respectively. The number of cancer patients worldwide is anticipated to grow further during the forthcoming decade, and in turn drive the demand for regenerative medicines. The growing number of diabetic patients globally is further estimated to contribute to the growth of the global regenerative medicine market during the forecast period. According to the statistics by the International Diabetes Federation, health expenditure caused due to diabetes around the globe was at least USD 760 Billion in the year 2019. Moreover, in the same year, deaths caused due to diabetes was registered to 4.2 Million. Further, around 463 Million adults between the age 20years and 79 years were living with diabetes. The high number of diabetes patients around the world is further raising the demand for regenerative medicines, which in turn is expected to drive the market growth.