Market Trends of Asia-Pacific Regenerative Medicine Industry
This section covers the major market trends shaping the APAC Regenerative Medicines Market according to our research experts:
Cardiovascular is Expected to Show Significant Growth in the Market Over the Forecast Period
Cardiac regeneration is a broad effort to repair irreversibly damaged heart tissue with cutting-edge, including stem cell and cell-free therapy. The factors such as the increasing prevalence of cardiovascular diseases, the rising geriatric population, and the rising focus on developing regenerative medicine for the treatment of cardiac disorders are expected to drive the growth of the studied segment.
For instance, the NCBI article published in January 2021 mentioned that of the 290 million people who suffer from cardiovascular disease patients in China, 13 million had a stroke, 11 million had coronary heart disease, 4 million had coronary heart disease, 4.5 million had pulmonary heart disease, 2.5 million pulmonary heart disease, 2 million had heart failure and others in 2021. Additionally, the data published by WPR in 2022 shows that one in every five adults in China had some cardiovascular disease in 2022. the report also mentioned a 50% increase in cardiovascular disease by 2030. Additionally, the data published by ESCAP in July 2022 mentioned that the Asia-Pacific population aged 60 years or over was 630 million in 2022, representing 60% of the world's older population. Thus, the rising prevalence of cardiovascular diseases and the increasing geriatric population prone to develop cardiac disorders are expected to drive the demand for regenerative medicine, propelling the segment growth.
Additionally, the increasing investments by governments in Asia-Pacific for the research and development of regenerative medicine in the treatment of cardiac disorders are also expected to contribute to market growth. For instance, in June 2021, the Australian Government invested USD 180 million to improve the research and development of stem cell therapies. From this fund, the Murdoch Children's Institute in Australia received almost USD 1 million to evaluate the potential of bioengineered heart tissue for children's congenital heart repair.
Thus, the increasing prevalence of cardiac disorders, the rising geriatric population, and increasing funding from the government are expected to boost the growth of the studied segment.
Japan is Expected to Hold Significant Share of the Regenerative Medicine Market Over the Forecast Period
Japan is expected to hold a notable share of the market owing to the increasing research and developments for regenerative medicine. Technological advancements in healthcare and the presence of key market players in Japan are also expected to play a crucial role in the market growth in this country.
For instance, in December 2021, Hiroshima University started human trials for a treatment that offers the potential to reverse paralysis and language disorders after moderate to severe stroke using therapeutically superior mesenchymal stem cells derived from the cranial bone. The study period for the clinical trial is until December 2023. Such increasing research and developments of regenerative medicine in Japan are expected to drive the growth of the market. Additionally, the data published by AMED in April 2021, mentioned that Japan Regenerative Medicine Project offers around YEN 15-25 million (USD 11 - 19 thousand) per year and also encourages collaboration with researchers in other countries for the development of advanced regenerative medicine. Thus, the increasing funding from the government for the development of advanced regenerative medicine is also expected to drive the growth of the market in this country.
Additionally, the rising prevalence of chronic disorders among the Japanese population is also expected to drive the demand for advanced regenerative medicines, thereby contributing to the growth of the market. For instance, the BMC article published in October 2021, mentioned that by 2046, the prevalence of dementia in people older than 65 years is projected to exceed 25% in Japan. Thus, the increasing prevalence of chronic disorders is expected to rise the demand for effective and advanced therapies such as regenerative medicine, thereby fueling the growth of the market.
