New research from Precedence Research is forecasting exceptional growth in the burgeoning regenerative medicine market. Currently valued at roughly $35 billion, Precedence now predicts its global compound annual growth rate (CAGR) at a robust 18%, reaching $154 billion by 2033.
However, while the global CAGR is indeed robust, the Asia Pacific market is among the fastest growing, outpacing global growth with a CAGR of 23.6%[1]
To put this phenomenal growth forecast in perspective, Precedence Research has pegged the global artificial intelligence market as having a CAGR of 19.1% through 2034.[2]
According to the Precedence report, “With the significant rise in the prevalence of chronic ailments and traumatic injuries, organ transplantation and regenerative therapy procedures have gained immense attention…
“Moreover, the rising advancements in stem cell research significantly contribute to the market growth, as it plays a crucial role in generative medicine studies.”[3]
Peter Choo, Chairman of CytoMed Therapeutics (NASDAQ: GDTC) said, of the forecast, “The growth in the regenerative medicine market is quite astounding but not unexpected given the recent scientific advances. There is no surprise that the Asian market outpace the global market as the Asian population is significantly aging, and combined with increased lifespan, brings about greater demand for the market. “
“The regenerative therapies that we are developing through our latest acquisition will not be exclusive to the Asian market, but we are in the right place at the right time.”
Read more about CytoMed Therapeutics’ (NASDAQ: GDTC) acquisition and entry into the regenerative medicine market HERE
Or read the full Precedence Research report HERE
[1] Regenerative Medicine Market is Targeting USD 154.05 (globenewswire.com)
[2] Artificial Intelligence (AI) Market Size to Reach USD 3,680.47 Bn by 2034 (precedenceresearch.com)
[3] Regenerative Medicine Market is Targeting USD 154.05 (globenewswire.com)
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