Market Size of Asia-Pacific Regenerative Medicine Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | 21.50 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Asia Pacific Regenerative Medicine Market Analysis
The Asia-Pacific Regenerative Medicine Market is poised to grow at a CAGR of 21.5% over the forecast period.
COVID-19 had a significant impact on the regenerative medicine market across the Asia-Pacific region during the pandemic period. The usage of regenerative medicine in treating COVID-19 diseases and its approvals by regulatory authorities had a crucial impact on the market's growth. For instance, in September 2021, the Central Drugs Standard Control Organization of the Government of India (CDSCO) approved a stem cell-based therapy trial for COVID-19 pneumonia treatment. The clinical trial was conducted in two phases to evaluate the safety and efficacy of Mesocel for treating patients with moderate to severe COVID-19. Such approvals indicated that Asian countries adopted regenerative medicine as a treatment measure for COVID-19, ultimately crucially impacting the market during the pandemic period. In addition, the demand for regenerative medicine is expected to remain intact during the post-pandemic period due to the rising focus on treating various chronic diseases, thereby contributing to the market's growth.
The key factors propelling the growth of the Asia-Pacific regenerative medicine market are the increased funding for regenerative medicine and increasing research and development activities for the development of regenerative medicine. Additionally, the increasing adoption of regenerative medicine for treating various chronic disorders is expected to boost the market's growth over the forecast period. For instance, in February 2022, the Government of India invested over Rs. 8.13 crore (approximately USD 1 million) to support state-of-the-art stem cell research facilities in 40 health research and educational institutions. Further, the report published by the Australian Government in October 2021 stated that the Australian Government is boosting Australian-led stem cell research through USD 25 million in grants. These funds are availed from the Medical Research Future Fund (MRFF). Such government funding in Asia-Pacific is expected to contribute to the market's growth.
Also, in October 2022, Maruti Hospital in Tiruchi, India, introduced a proprietary stem cell treatment for osteoarthritis patients to reduce their dependence on painkillers and provide a more long-lasting solution to knee joint pain. Such increasing adoption of regenerative medicine in treating various disorders is expected to contribute to the market's growth over the forecast period.
However, the high cost of treatments is expected to restrain the market's growth over the forecast period.
