Number of pages: 100 | Report Format: PDF | Published date: November 04, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
The global tissue engineering market was pegged at US$ 12.74 billion in 2021 and is expected to witness a CAGR of 10.45 % during the forecast period
Tissue engineering is a biomedical engineering subject that restores, maintains, improves, or replaces distinct types of biological tissues by combining cells, engineering, materials technologies, and appropriate biochemical and physicochemical parameters. This practice is used to study the effect of specific chemicals or medications on living cells. 3D aspect of tissue engineering enables a more in-depth examination of tumor architecture. Additionally, it offers a setting in which it is used to evaluate potential novel treatments for various disorders.
Global tissue engineering market is driven by increased adoption of alternatives to surgical reconstructions. Increased incidences of chronic diseases, and road accidents are influencing the market growth. Furthermore, technological advancements are increasing the field of tissue engineering. Also, increased government fundings and initiatives by research institutes are enhancing the growth of the market. However, excessive cost and stringent government regulations is restricting the market growth
The global tissue engineering market has been analyzed from three perspectives: by material type, application, and region.
Tissue Engineering Market by Material Type
Based on material type, the global tissue engineering market is segmented into biologically derived material, synthetic material, and others. The biologically derived material segment has majority of market share. Biologically derived material segment is increasing in demand due to temporary mechanical support offered by biologically derived material which promotes improved cell proliferation, adhesion, and differentiation. Furthermore, biomaterials are used in production of newly formed tissues which are similar to vital body parts. The synthetic material segment is expected to register highest CAGR during the projected period. This is because synthetic materials in tissue engineering offer more control over the mechanical and biological characteristics of the carrier scaffolds.
Tissue Engineering Market by Application
Based on application, the market is grouped into neurology, orthopedic, musculoskeletal & spine, cardiology & vascular, skin & integumentary, urology, dental, cord blood & cell banking, cancer, and gynecology. The orthopedic segment dominated the global tissue engineering market. Over the years usage of tissue engineering has gained support to treat many orthopedic disorders such as osteonecrosis and osteochondral. This demand is increasing due to use of biological, chemical and tissue engineering principles which provides a more effective and better approach then traditional methods. Skin & integumentary segment is anticipated to grow with high CAGR in the projected period. This is attributed to increased focused of companies in providing innovative product and launches with technological advancements, simultaneously meeting dynamic customer demands.
Tissue Engineering Market By Region
Based on region, the global tissue engineering market has been segmented into North America, Europe, Asia Pacific, and the rest of the world. North America dominated the market in 2021. The growth of tissue engineering in the region is attributed to increased awareness about tissue engineering, high usage of tissue engineering models in research and development activities. Furthermore, increased funding by government and private organizations is boosting the market growth. European market is characterized by government support in research and development of life sciences area, rising incidences of cancer, increased prevalence of cardiac disorders and presence of many market players in the region. The Asia Pacific region is expected to grow with high CAGR throughout the projected period. The growth is influenced by factors such as increased government attempts to expand healthcare sector. Countries such as Japan and China are likely to grow at a high CAGR in forecast period due to increased adoption of technological advanced products, improved healthcare sectors, and increasing research activities.
Some of the prominent players operating in the global tissue engineering market are
Global tissue engineering market is driven by increased adoption of alternatives to surgical reconstructions. Furthermore, technological advancements are increasing the field of tissue engineering, along with increased government fundings and initiatives by research institutes is further enhancing the market growth.
Some of the prominent players operating in the global tissue engineering market are Medtronic Plc, Allergan Plc, Zimmer Biomet Holdings, Inc., Athersys, Inc., ACell, Inc., Stryker Corporation Organogenesis Holdings Inc., ReproCell, Inc., RTI Surgical, Inc., Baxter International, Inc., Integra Lifesciences Corporation, Tissue Regenix Group Plc among others.
The market is expected to witness a CAGR of 10.45 % during the forecast period
The market growth is restricted by excessive cost and stringent government regulations
Based on material type, the biologically derived material segment has majority of market share. Based on application, the orthopedic segment dominated the global tissue engineering market. Regionally, North America holds highest market share
*Insights on financial performance is subject to availability of information in public domain