BANGALORE, India, April 4, 2022 /PRNewswire/ — The Global tissue engineering market is segmented by Type (Synthetic Scaffold Material, Bio-based Scaffold Material, and Others), Application (Orthopaedics & Musculoskeletal, Neurology, Cardiovascular, Skin & Integumentary, Dental, and Others): Global Opportunities Analysis and Market Forecast. industry, 2020-2027. It is published in Appreciate the reports under the Biological Sciences Category.
The Global Tissue Engineering Market was valued at $2,374 million in 2019 and is expected to reach $6,815 million by 2027, registering a CAGR of 14.2% from 2020 to 2027.
The major factors driving the growth of the tissue engineering market are:
The tissue engineering market is expected to grow due to an increase in the prevalence of chronic diseases and traumatic emergencies, as well as increased awareness of tissue engineering, technological advancements in 3D bioprinting and products pipeline potentials. Additionally, the market is expected to benefit from an increase in the number of R&D activities along with an increased awareness of tissue engineering in emerging economies.
The tissue engineering market is expected to grow owing to the growing prevalence of cardiology and vascular disorders.
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TRENDS INFLUENCING THE GROWTH OF THE TISSUE ENGINEERING MARKET
Chronic diseases, road accidents and trauma are on the rise, fueling the development of tissue-engineered solutions. The number of people in need of bone implants is increasing, due to an increase in cases of chronic diseases, cases of trauma and a longer average lifespan. These factors are expected to further increase the growth of the tissue engineering market.
The use of 3D bioprinters to efficiently design in vitro implants, as well as technological advances in the field of 3D tissue engineering, such as the replacement of embryonic cells by stem cells, organ-on-chip technology and the use of 3D bioprinters to efficiently design in vitro implants should stimulate growth. Furthermore, an increase in public funding of medical and academic research activities would drive the growth of the tissue engineering market during the forecast period.
Also, during the forecast period, the tissue engineering market will increase owing to the growing demand for cardiology and vascular applications. The market is expected to benefit from a surge in demand for heart transplantation in children with birth defects such as single ventricle abnormalities.
Clinicians around the world are facing a severe shortage of donors for various transplant procedures. Tissue engineering can compensate for the shortcomings of organ transplantation, and the growing popularity of 3D printing in medical applications for regeneration is expected to drive the demand for tissue engineering during the forecast period. Tissue engineering also has a bright future in terms of restoring 3D contour and restoring function to affected body parts.
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TISSUE ENGINEERING MARKET SHARE ANALYSIS
On the basis of type, the synthetic scaffolding materials segment is expected to grow significantly, due to its efficiency compared to other naturally occurring materials. Synthetic materials are preferred over natural materials because they produce better results.
Based on applications, the cardiovascular segment is expected to witness the highest growth in the market, owing to an increase in the incidence of cardiovascular diseases and an increase in R&D activities to develop tissue-engineered products for the cardiology.
Depending on the region, the Asia Pacific The region would show the highest CAGR of 14.2% during the period 2019-2026. Due to growing awareness of tissue engineered products, growing demand for advanced healthcare services in emerging economies, growing R&D industry and increased presence of key players in the region, Asia Pacific presents lucrative opportunities for key players operating in the Tissue Engineering market.
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- Abbvie Inc. (Allergen Plc.)
- Braun Melsungen AG
- Becton, Dickinson And Company (CR Bard, Inc.)
- Integra Lifesciences
- Organogenesis funds
- Sid Martin Biotech (Axogen)
- Smith & Nephew Plc. (Osiris Therapeutics)
- Tissuetech Inc.
- Vericel Corporation
- Zimmer Biomet Holdings, Inc.
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