Canada regenerative medicine
market is anticipated to witness impressive growth during the forecast period.
This can be ascribed to the growing prevalence of genetic disorders along with
increased healthcare expenditure by government bodies across the region.
Similarly, market players are focusing on research and development activities
to expand their pipeline candidates which will lead to new product launches
during the forecast period. Also, increasing clinical trials for stem cell and
CAR-T cell therapies along with rising advancements in tissue engineered
products will further influence the growth of the Canada regenerative medicine
market during the forecast period.
Increasing Prevalence of Chronic
Diseases
The increasing prevalence of
chronic diseases in Canada is one of the key drivers for the growth of the
regenerative medicine market in the country. Chronic diseases such as cancer,
diabetes, cardiovascular diseases, and neurological disorders are increasing in
Canada, creating a growing demand for innovative therapies that can effectively
treat these conditions. Regenerative medicine has the potential to offer
personalized, targeted treatments that can address the root cause of these
diseases. For example, stem cell therapies can be used to regenerate damaged
tissues and organs, while gene therapies can be used to correct genetic defects
that cause diseases. The growing demand for regenerative medicine products and
therapies is also being driven by the limitations of traditional treatments for
chronic diseases. Many existing treatments, such as chemotherapy and radiation
therapy for cancer, can have significant side effects and may not be effective
for all patients. Regenerative medicine offers a more targeted and personalized
approach that can improve patient outcomes and quality of life. For example,
stem cell therapies can be used to regenerate damaged tissues and organs, while
gene therapies can be used to correct genetic defects that cause diseases. The increasing
prevalence of chronic diseases in Canada is also driving research and
development in regenerative medicine. Canada is a leader in stem cell research
and tissue engineering with several academic institutions and research centers
working on cutting-edge technologies in these areas. These advancements have
led to the development of new therapies and products that are driving the
growth of the Canada regenerative medicine market.
Rising Healthcare Expenditure
Rising healthcare expenditure is
another important factor driving the growth of the regenerative medicine market
in Canada. With the growing geriatric population, the demand for healthcare
services is increasing, thereby leading to a rise in healthcare spending in
Canada. Regenerative medicine offers a cost-effective solution that can reduce
healthcare costs in the long term by providing curative treatments for chronic
diseases. Traditional treatments for chronic diseases can be expensive and
often involve ongoing maintenance and management of symptoms. In contrast,
regenerative medicine offers the potential for a one-time curative treatment
that can eliminate the need for ongoing care and management. For example, stem
cell therapies can be used to regenerate damaged tissues and organs, reducing the
need for costly surgeries or lifelong medication. Gene therapies can be used to
correct genetic defects that cause diseases, potentially eliminating the need
for expensive treatments and therapies. Regenerative medicine also offers the
potential to reduce healthcare costs by addressing the root cause of chronic
diseases, rather than simply managing symptoms. By providing curative
treatments, regenerative medicine can reduce the need for ongoing healthcare
services, such as hospitalizations and emergency room visits. Furthermore, the
regenerative medicine industry can contribute to the Canadian economy by
creating jobs and attracting investment. As the Canada regenerative medicine
market grows, it is expected to generate significant economic activity in Canada,
contributing to job creation and economic growth.
Growing geriatric population
The growing geriatric population
in Canada is a major factor driving the growth of the regenerative medicine
market in the country. As the population ages, the prevalence of chronic
diseases increases, creating a growing demand for innovative therapies that can
effectively treat these conditions. Regenerative medicine has the potential to
offer personalized, targeted treatments that can address the root cause of
chronic diseases. For example, stem cell therapies can be used to regenerate
damaged tissues and organs, while gene therapies can be used to correct genetic
defects that cause diseases. The aging population is also driving the demand
for treatments that can improve quality of life and reduce the need for ongoing
healthcare services. Many existing treatments for chronic diseases can have
significant side effects and may not be effective for all patients.
Regenerative medicine offers a more targeted and personalized approach that can
improve patient outcomes and quality of life. In addition, the aging population
is driving research and development in regenerative medicine. As the demand for
innovative therapies increases, academic institutions and research centers in
Canada are working on cutting-edge technologies in areas such as stem cell
research and tissue engineering. These advancements have led to the development
of new therapies and products that are driving the growth of the Canada
regenerative medicine market.
Advancements in Stem Cell
Research and Tissue Engineering
Advancements in stem cell
research and tissue engineering are major drivers of the regenerative medicine
market in Canada. Canada is a leader in stem cell research and tissue
engineering, with several academic institutions and research centers working on
cutting-edge technologies in these areas. Stem cells have the ability to
differentiate into many different types of cells in the body, making them a
powerful tool for regenerative medicine. Researchers are exploring the use of
stem cells in a range of applications, from tissue regeneration to the
treatment of chronic diseases such as cancer and cardiovascular disease. Tissue
engineering involves the development of artificial tissues and organs using a combination
of engineering and biological techniques. These techniques can be used to
develop replacement tissues and organs for patients with damaged or diseased
tissues. Advancements in stem cell research and tissue engineering are leading
to the development of new therapies and products that are driving the growth of
the regenerative medicine market in Canada. For example, stem cell therapies
are being developed for the treatment of heart disease, Parkinson’s disease,
and other chronic conditions. Tissue engineering is also being used to develop
replacement tissues and organs, such as skin grafts and bone grafts. In
addition, researchers are exploring the use of 3D printing to create artificial
tissues and organs, offering a potential solution to the shortage of donor
organs for transplantation.
Supportive Government Policies
Supportive government policies
are a key factor driving the growth of the regenerative medicine market in
Canada. The Canadian government has been proactive in supporting research and development
in regenerative medicine, recognizing its potential to improve patient outcomes
and stimulate economic growth. One key example of supportive government
policies is the creation of the Canada Foundation for Innovation (CFI), which
provides funding for research infrastructure and equipment to support research
in regenerative medicine. The CFI has supported numerous research projects
related to stem cell research, tissue engineering, and other areas of
regenerative medicine, helping to drive innovation in the field. The Canadian
government has also provided funding for initiatives such as the Stem Cell
Network and the Centre for Commercialization of Regenerative Medicine (CCRM),
which are focused on promoting research and development in regenerative medicine
and supporting the commercialization of new therapies and products. In
addition, the Canadian government has established a supportive regulatory
environment for regenerative medicine. Health Canada, the federal department
responsible for healthcare regulation in Canada, has developed clear guidelines
for the development and approval of regenerative medicine therapies, providing
a clear pathway for companies and researchers to bring new therapies to market.
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Recent Development
- MolecuLight i:X Wound Imaging Device:
This device was launched in Canada in 2019 by the Toronto-based company
MolecuLight. It uses fluorescence imaging to help clinicians visualize
bacteria in chronic wounds, allowing for more targeted and effective
treatment. The MolecuLight i:X has been used to treat over 50,000 patients
across the world.
- Octane Orthobiologics OsteoSync Ti: This
product was launched in Canada in 2018 by the Quebec-based company Octane
Orthobiologics. It is a titanium scaffold designed to support bone
regeneration and healing in orthopedic surgeries. The product is made
using a 3D printing process and has been used in a range of surgical
procedures, including spinal fusion and joint replacement.
- Lipogems: This adipose tissue-derived
regenerative cell therapy was launched in Canada in 2019 by the company
Lipogems. It involves using the patient's own adipose tissue to harvest
and process regenerative cells, which are then injected into damaged or
injured tissue to promote healing. Lipogems has been used to treat a range
of conditions, including osteoarthritis and tendon injuries.
Market Segmentation
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. Based on application, the Canada regenerative medicine
market can be grouped into musculoskeletal disorders, wound care, oncology,
ophthalmology, neurology, dermatology, and others. Based on end user, the
Canada regenerative medicine market can be segmented into academic and
commercial.
Market Players
Novartis Pharmaceuticals Canada
Inc, Pfizer Canada., Hoffmann-La Roche Ltd., Bristol-Myers Squibb Canada Inc.,
Allergan Inc/Canada., Baxter International Inc., Osiris Therapeutics Inc.,
Medtronic of Canada Ltd. are some of the leading players operating in the
Canada regenerative medicine market.
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Attribute
|
Details
|
|
Base
Year
|
2022
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|
Historic
Data
|
2018 – 2021
|
|
Estimated
Year
|
2023
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Forecast
Period
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2024 – 2028
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|
Quantitative
Units
|
Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028
|
|
Report
Coverage
|
Revenue
forecast, company share, competitive landscape, growth factors, and trends
|
|
Segments
Covered
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By Type
By
Application
By End User
By Region
|
|
Regional
scope
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Ontario
region; Quebec region; Alberta region; British Columbia region; Saskatchewan
and Manitoba region; Rest of Canada
|
|
Key
companies profiled
|
Novartis
Pharmaceuticals Canada Inc, Pfizer Canada., Hoffmann-La Roche Ltd.,
Bristol-Myers Squibb Canada Inc., Allergan Inc/Canada., Baxter International
Inc., Osiris Therapeutics Inc., Medtronic of Canada Ltd.
|
|
Customization
scope
|
10%
free report customization with purchase. Addition or alteration to country,
regional & segment scope.
|
|
Pricing
and purchase options
|
Avail customized purchase options to meet your exact research
needs. Explore purchase options
|
|
Delivery
Format
|
PDF and Excel through Email (We can also provide the editable
version of the report in PPT/Word format on special request)
|
Report Scope:
In this report, the Canada
Regenerative Medicine market has been segmented into the following categories,
in addition to the industry trends which have also been detailed below:
- Canada Regenerative Medicine Market, By
Type:
o Cell
Therapies
o Gene
Therapies
o Progenitor
& Stem Cell Therapies
o Tissue
Engineered Products
- Canada Regenerative Medicine Market,
By Application:
o Musculoskeletal
Disorders
o Wound
Care
o Oncology
o Ophthalmology
o Neurology
o Dermatology
o Others
- Canada Regenerative Medicine Market, By
End User:
o Academic
o Commercial
- Canada Regenerative Medicine Market,
By Region:
o Ontario
region
o Quebec
region
o Alberta
region
o British
Columbia region
o Saskatchewan
and Manitoba region
o Rest
of Canada
Competitive Landscape
Company Profiles: Detailed
analysis of the major companies present in the Canada regenerative medicine
market.
Available Customizations:
With the given market data,
TechSci Research offers customizations according to a company’s specific needs.
The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of
additional market players (up to five).
Canada regenerative medicine
market is an upcoming report to be released soon. If you wish an early
delivery of this report or want to confirm the date of release, please contact
us at [email protected]