The Europe Regenerative Medicines market is expected to grow with a CAGR of 6.4% over the forecast period.
The outbreak of the COVID-19 pandemic is anticipated to have a significant impact on the regenerative medicines market in Europe. According to the research article published in European Respiratory Journal, 2020, novel therapeutic approaches such as cell-based therapies, especially using mesenchymal stem cells were found to have demonstrated the safety and efficacy in providing effective treatment in patients with the acute respiratory distress syndrome (ARDS). Thus, there has been an increasing focus on developing stem cell-based therapies in treating SARS-CoV-2 viral infection. Thus, owing to the aforementioned factors, the studied market is expected to witness a significant impact during the pandemic.
The key factors propelling the growth of the regenerative medicines market in Europe are the increasing adoption of stem-cell technologies, gene therapies, and tissue engineering, and the technological advancements in regenerative medicines.
Stem-cell technology is a rapidly developing technology that plays a major role in regenerative medicines, as it also serves the disciplines of tissue engineering, developmental cell biology, cellular therapeutics, gene therapy, chemical biology, and nanotechnology. The applications of stem-cell technologies in the treatment of diseases have ultimately increased the overall adoption rate of these technologies in the region.
The market is experiencing major technological advancements in biologics, biomaterials, stem-cell technology, and tissue engineering, thereby, contributing to its growth. There have also been various recent advancements in regenerative medicines, including regenerated tracheas for transplant, 3D bioprinting, stem-cell treatments for vision loss, and stem-cell treatments for heart repair. The current market is also witnessing extensive R&D activities. Apart from R&D activities being conducted by the private players, there is a significant involvement of the academic institutions, for conducting various research processes. Therefore, in the future, several new biotech and medtech companies are expected to come up, as the result of the current R&D endeavors in the European region, which is expected to drive the market growth significantly over the forecast period.
Key Market Trends
Cardiovascular Application is Expected to Cover a Large Share of the Market Over the Forecast Period
Cardiac stem-cell therapy has a great potential to prompt myocardial regeneration in patients with ischemic heart disease. The selection of the most suitable cell type is pivotal for its successful application. Various cell types, including crude bone marrow mononuclear cells, skeletal myoblast, and hematopoietic and endothelial progenitors, have already advanced into the clinical arena, based on promising results from different experimental and preclinical studies. Different next-generation cell types are also under investigation, for the treatment of diseased myocardium.
As per the European Society of Cardiology, Cardiovascular Disease Statistics 2019, more than 6 million new cardiovascular diseases (CVD) cases are present in European Union and this is estimated to be around 11 million in entire Europe in 2019. Also, it was estimated that every year nearly 3.9 million deaths are caused due to CVDs in Europe and approximately 1.8 million deaths in the European Union. As the incidence of CVD increases in Europe, the demand for cardiac regenerative techniques in applications like cardiac stem (CSCs) and progenitor cells (CPCs) are also expected to increase. This is expected to help the market to grow in the future.
Competitive Landscape
The Europe Regenerative Medicines market is moderately competitive, due to the presence of most of the key global players in the region. Many of these global players have their headquarters in the European countries, which increases the accessibility of regenerative medicines throughout the continent. The major players of the studied market include Abbvie Inc. (Allergan plc), Medtronic plc, Smith and Nephew (Osiris Therapeutics), Cook Biotech Incorporated, Thermo Fisher Scientific, Merck KGaA, Integra Lifesciences Corporation among others. The launch of new products and high focus on research and development activities, along with strategic alliances such as acquisitions and collaborations has been enabling the key players to withstand the competitive European market. For instance, in April 2018, TiGenix NV and Takeda Pharmaceutical Company received approval from European Commission for its Alofisel (darvadstrocel), an allogenic stem cell therapy, indicated for the treatment of complex perianal fistulae in adult patients with nonactive/mildly active luminal Crohn's Disease. Also, in April 2019, Smith and Nephew completed the acquisition of Osiris Therapeutics Inc., which is involved in delivering regenerative medicine products including skin, bone grafts, and articular cartilage substitutes.
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The outbreak of the COVID-19 pandemic is anticipated to have a significant impact on the regenerative medicines market in Europe. According to the research article published in European Respiratory Journal, 2020, novel therapeutic approaches such as cell-based therapies, especially using mesenchymal stem cells were found to have demonstrated the safety and efficacy in providing effective treatment in patients with the acute respiratory distress syndrome (ARDS). Thus, there has been an increasing focus on developing stem cell-based therapies in treating SARS-CoV-2 viral infection. Thus, owing to the aforementioned factors, the studied market is expected to witness a significant impact during the pandemic.
The key factors propelling the growth of the regenerative medicines market in Europe are the increasing adoption of stem-cell technologies, gene therapies, and tissue engineering, and the technological advancements in regenerative medicines.
Stem-cell technology is a rapidly developing technology that plays a major role in regenerative medicines, as it also serves the disciplines of tissue engineering, developmental cell biology, cellular therapeutics, gene therapy, chemical biology, and nanotechnology. The applications of stem-cell technologies in the treatment of diseases have ultimately increased the overall adoption rate of these technologies in the region.
The market is experiencing major technological advancements in biologics, biomaterials, stem-cell technology, and tissue engineering, thereby, contributing to its growth. There have also been various recent advancements in regenerative medicines, including regenerated tracheas for transplant, 3D bioprinting, stem-cell treatments for vision loss, and stem-cell treatments for heart repair. The current market is also witnessing extensive R&D activities. Apart from R&D activities being conducted by the private players, there is a significant involvement of the academic institutions, for conducting various research processes. Therefore, in the future, several new biotech and medtech companies are expected to come up, as the result of the current R&D endeavors in the European region, which is expected to drive the market growth significantly over the forecast period.
Key Market Trends
Cardiovascular Application is Expected to Cover a Large Share of the Market Over the Forecast Period
Cardiac stem-cell therapy has a great potential to prompt myocardial regeneration in patients with ischemic heart disease. The selection of the most suitable cell type is pivotal for its successful application. Various cell types, including crude bone marrow mononuclear cells, skeletal myoblast, and hematopoietic and endothelial progenitors, have already advanced into the clinical arena, based on promising results from different experimental and preclinical studies. Different next-generation cell types are also under investigation, for the treatment of diseased myocardium.
As per the European Society of Cardiology, Cardiovascular Disease Statistics 2019, more than 6 million new cardiovascular diseases (CVD) cases are present in European Union and this is estimated to be around 11 million in entire Europe in 2019. Also, it was estimated that every year nearly 3.9 million deaths are caused due to CVDs in Europe and approximately 1.8 million deaths in the European Union. As the incidence of CVD increases in Europe, the demand for cardiac regenerative techniques in applications like cardiac stem (CSCs) and progenitor cells (CPCs) are also expected to increase. This is expected to help the market to grow in the future.
Competitive Landscape
The Europe Regenerative Medicines market is moderately competitive, due to the presence of most of the key global players in the region. Many of these global players have their headquarters in the European countries, which increases the accessibility of regenerative medicines throughout the continent. The major players of the studied market include Abbvie Inc. (Allergan plc), Medtronic plc, Smith and Nephew (Osiris Therapeutics), Cook Biotech Incorporated, Thermo Fisher Scientific, Merck KGaA, Integra Lifesciences Corporation among others. The launch of new products and high focus on research and development activities, along with strategic alliances such as acquisitions and collaborations has been enabling the key players to withstand the competitive European market. For instance, in April 2018, TiGenix NV and Takeda Pharmaceutical Company received approval from European Commission for its Alofisel (darvadstrocel), an allogenic stem cell therapy, indicated for the treatment of complex perianal fistulae in adult patients with nonactive/mildly active luminal Crohn's Disease. Also, in April 2019, Smith and Nephew completed the acquisition of Osiris Therapeutics Inc., which is involved in delivering regenerative medicine products including skin, bone grafts, and articular cartilage substitutes.
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Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Allergan PLC
- Smith & Nephew (Osiris Therapeutics)
- Integra Lifesciences Corporation
- Cook Biotech Incorporated
- Baxter International Inc.
- Medtronic PLC
- Thermo Fisher Scientific
- Merck KGaA
- Becton Dickinson and Company
- NuVasive Inc
- Organogenesis Inc.
- Vericel Corporation
Methodology
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