Canada Regenerative Medicine Market to be dominated by Cell Therapies through 2028
The increasing prevalence of
chronic ailments is expected to drive the growth of the Canada regenerative
medicine market during the forecast period.
According to TechSci Research
report, “Canada Regenerative Medicine Market - By Region,
Competition, Forecast, and Opportunities, 2018-2028”, the Canada
regenerative medicine market is anticipated to grow at an impressive rate
during the forecast period. This can be ascribed to the increasing
prevalence of chronic ailments such as cancer, cardiovascular diseases, and
neuro diseases along with the growing adoption of advanced therapies among
people. Similarly, the growing incidence of genetic disorders and rapidly
increasing trauma cases will further propel the growth of the Canada
regenerative medicine market during the forecast period. Additionally, growing
investments in the research and development of regenerative medicines will
escalate the growth of the Canada regenerative medicine market in the coming
years. Besides, a strong product pipeline of regenerative medicine products and
the increasing popularity of stem cell therapy will further support the growth
of the Canada regenerative medicine market during the forecast period.
However, regenerative medicine
products and therapies are expensive to develop and manufacture, which can make
them less accessible to patients, thereby leading to a lack of competition and
higher prices for consumers. Similarly, the regulatory environment for
regenerative medicine products can be complex and challenging, as these products
often involve the use of living cells and tissues which may hamper the growth
of the Canada regenerative medicine market during the forecast period. Also,
many regenerative medicine products and therapies are not covered by public or
private insurance plans. This can further restrict the growth of the Canada
regenerative medicine market.
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The Canada regenerative medicine
market can be segmented by type, application, end user and region. Based on
type, the Canada regenerative medicine market can be segmented into cell
therapies, gene therapies, progenitor & stem cell therapies, and tissue
engineered products. The cell therapies segment dominated the Canada
regenerative medicine market in 2022 and is expected to continue maintaining
its dominance during the forecast period. This can be ascribed to rising
geriatric population, coupled with higher incidence rates of age-related as
well as degenerative disorders. The increasing prevalence of diseases with
unmet medical solutions, such as cancer, diabetes, and neurodegenerative
diseases, including AMD, is influencing the growth of the Canada regenerative
medicine market.
Based on application, the Canada
regenerative medicine market can be segmented into musculoskeletal disorders,
wound care, oncology, ophthalmology, neurology, dermatology, and others. The
oncology segment is expected to dominate the Canada regenerative medicine
market during the forecast period due to the rising number of cancer cases and
the increasing demand for developing new technologies for the treatment of
cancer patients.
Major companies operating in the
Canada regenerative medicine market are:
- GE Healthcare Canada Inc
- Philips Canada Ltd.
- Siemens Healthcare Diagnostics Ltd/Canada
- Canon Medical Systems Corp
- Hitachi Solutions Canada Ltd
- Hologic Inc
- Aurora Imaging Technology Inc
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“The Canada regenerative
medicine is expected to dominate the market during the forecast period due to
the availability of government and private funding for development, the
presence of advanced tech frameworks to support the rapid detection of chronic
diseases, and high healthcare spending. Similarly, several ongoing clinical
trials for regenerative medicine by significant market players are expected to
drive the growth of the Canada regenerative medicine market during the forecast
period. Also, the rapid adoption of cell-based approaches in healthcare and the
rising geriatric population will further propel the growth of the Canada
regenerative medicine market during the forecast period. Furthermore, rapid
expansion in infrastructure and facilities to accelerate stem cell research is
a major factor influencing the growth of the Canada regenerative medicine
market over the years. Besides, the increasing adoption of stem cell
technologies, gene therapies, tissue engineering, and technological
advancements in regenerative medicine is expected to create a lucrative growth
of the Canada regenerative medicine market during the forecast period,” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based
global management consulting firm.
“Canada Regenerative
Medicine Market By Type (Cell Therapies, Gene Therapies, Progenitor
& Stem Cell Therapies, and Tissue Engineered Products), By Application
(Musculoskeletal Disorders, Wound Care, Oncology, Ophthalmology, Neurology,
Dermatology, and Others), By End User (Academic v/s Commercial), and By Region,
Competition, Forecast, and Opportunities, 2028”, has
evaluated the future growth potential of the Canada regenerative medicine
market and provides statistics & information on market size, structure, and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the Canada regenerative
medicine market.
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