Description
Tissue Engineering Market
Global Tissue Engineering Market to surpass USD 41.47 billion by 2030 from USD 11.13 billion in 2020 at a CAGR of 14.06% in the coming years, i.e., 2021-30.
Product Overview
Tissue engineering is an interdisciplinary discipline in which engineering and life science concepts are used to create biological replacements that restore, maintain, or improve tissue function. It is a process that involves the use of a variety of materials and cells. In addition, to replace and enhance biological tissues, this approach uses physicochemical and biochemical variables. It’s an interesting technique that combines scaffolds, stem cells, regenerative medicine, and growth factors or negotiators in one or more ways. To repair tissue surgically, the approach combines molecular and cellular procedures with material engineering concepts. Tissue engineering offers an alternative to surgical reconstruction, transplants, and other mechanical devices for tissue healing.
Market Highlights
Global Tissue Engineering Market is expected to project a notable CAGR of 14.06% in 2030.
Due to the growing opposition to using animals in medical research, the market for tissue engineering is expected to increase rapidly. Engineered human tissue is increasingly being utilized in place of animals in pharmacological testing. The use of animals in medical experimentation on reputable grounds is becoming a source of contention, particularly in poorer countries. Over the forecasted timeframe, growing chronic disease occurrences are expected to fuel market expansion. Furthermore, the growing incidence of kidney-related diseases is expected to boost tissue engineering market growth throughout the predicted decade.
Recent highlights in the Global Tissue Engineering Market
In November 2020, Stryker said that it has cleared all legislative hurdles in the way of its proposed USD 4.7 billion purchase of Wright Medical. The contract proposal was started in November 2019 and has been shut in November 2020. With this agreement, the firm hopes to collaborate with clients to continue to provide solutions that improve patient outcomes.
In August 2020, Medtronic plc purchased Companion Medical, Inc. The addition of Companion Medical’s InPen to the Medtronic portfolio expands the company’s ability to serve diabetic patients and offer them a unique and comprehensive service environment regardless of how insulin is delivered.
Global Tissue Engineering Market: Segments
Biologically derive material segment to grow with the highest CAGR during 2020-30
Global Tissue Engineering Market is segmented by Material type into Synthetic material and biologically derived materials. Due to malfunctioning, tissue injury, or illness, and aging, the biologically derived materials segment held the biggest share of the market in 2019. These factors are also likely to drive demand for biologically derived materials throughout the forecast period.
Cardiology and Vascular segment to grow with the highest CAGR during 2020-30
Global Tissue Engineering is segmented by Application into Orthopedics and Musculoskeletal, Neurology, Cardiology and Vascular, Skin and Others. Because of the significant rise in the incidence of cardiovascular diseases throughout the world, the cardiology and vascular segment is expected to have the greatest growth rate in the tissue engineering market over the research period. Furthermore, key players are working on stem cell treatments to repair, restore, and re-vascularize injured cardiac tissues. In addition, gene therapy, sophisticated biologics, and small chemicals are being researched to help injured cardiac cells regenerate.
Market Dynamics
Drivers
Growing demand for inexpensive skin-replacement products
The rising demand for relatively inexpensive and readily available skin-replacement goods has prompted numerous research organizations across the world to work on developing biomaterials for skin replacement. The modified tissues not only seal wounds but also induce dermis regeneration, which would be a huge help in human wound healing.
Growing incidences of chronic diseases, road accidents, and trauma injuries
The tissue engineering market is expected to develop rapidly owing to rising rates of chronic illnesses, traffic accidents, and trauma injuries, as well as technical breakthroughs in 3D tissue engineering and ongoing tissue regeneration research. Chronic illnesses, traffic accidents, and trauma injuries are all on the rise, which is fueling the development of tissue engineering treatments. The number of people in need of bone implants is increasing, owing to an increase in chronic illness cases, trauma cases, and longer average life duration.
Restraint
Lack in awareness
Over the predicted period, government regulations, expensive treatment costs with tissue engineering, and a dearth of tissue engineering knowledge among patients and healthcare professionals are expected to stymie market expansion.
Global Tissue Engineering Market: Key Players
Stryker Corporation
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Organogenesis Inc.
Cook Biotech Inc.
Integra Life Sciences Corporation
Acelity L.P.Inc
Allergan Plc.
Medtronic
Zimmer Biomet
Baxter International Inc
DePuy Synthes
Global Tissue Engineering Market: Regions
Global Tissue Engineering market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. Global Tissue Engineering in North America held the largest market share in the year 2019 Owing to increased knowledge of stem cell treatment and an increasingly elderly population. Furthermore, increased technology for the detection and treatment of chronic diseases, the availability of private and government financing, and high healthcare spending all contribute to tissue engineering gaining a strong share of the regional market.
Global Tissue Engineering Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR –Argentina, Brazil and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Australia, and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Global Tissue Engineering Market report also contains analysis on:
Tissue Engineering Market Segments:
By Material Type
Synthetic material
Biologically derived materials
Others
By Application
Orthopedic and musculoskeletal
Neurology
Cardiology and Vascular
Skin
Others
Tissue Engineering Market Dynamics
Tissue Engineering Market Size
Supply & Demand
Current Market Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
Tissue Engineering Market
Report Scope and Segmentation
Report Attribute Details
Market size value in 2021 USD 12.68 billion
Revenue forecast in 2030 USD 41.47 billion
Growth Rate CAGR of 14.06% from 2021 to 2030
Base year for estimation 2020
Quantitative units Revenue in USD billion and CAGR from 2021 to 2030
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered Material Type, Application, and Region
Regional scope North America; Europe; Asia Pacific; Latin America; Middle East & Africa (MEA)
Key companies profiled Stryker Corporation, Organogenesis Inc., Cook Biotech Inc., Integra Life Sciences Corporation, Acelity L.P.Inc, Allergan Plc., Medtronic, Zimmer Biomet, Baxter International Inc, DePuy Synthes, and Other Prominent Players.
Frequently Asked Questions
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