Global Tissue Engineering Market Expected To Grow at a CAGR of 20% During Forecast Period | Emergen Research
The tissue engineering market is expected to grow at a CAGR of around 20% during the forecast period. The global tissue engineering market is primarily driven by the increasing prevalence of chronic diseases, growing geriatric population, and the rising demand for organ transplantation. In addition, the increasing government support for regenerative medicine research and the growing investment in this field are expected to boost the market growth. However, the high cost of treatment and stringent regulatory guidelines are expected to restraint the market growth.
Tissue engineering is a field of regenerative medicine that deals with the development of biological substitutes that restore, maintain, or improve tissue function. These substitutes are designed to interact with the surrounding cells and tissues to promote regeneration and repair. Tissue engineering involves the use of a variety of techniques, including cell culture, 3D printing, and biomaterials.
The rising potential of the tissue engineering procedures in treating irreversible damage to the tissues has been a key factor driving the growth of this market. Tissue engineering offers an array of advantages over conventional treatment procedures, which is another major factor that is estimated to fuel the demand for these procedures in the coming years.
Technological developments and rising awareness about the benefits of tissue engineering are some of the major factors driving the growth of the global tissue engineering market. Rapid growth in the number of geriatric population and increasing incidences of chronic diseases are anticipated to create a huge demand for tissue engineered products over the forecast period.
Some Key Highlights from the Report
- Based on product type, the market is categorized into biomaterials, cell-based products, growth factors & cytokines, and scaffolds. The biomaterials segment is expected to grow at the highest CAGR during the forecast period due to the increasing use of these materials in a wide range of tissue engineering applications. Also, the rising demand for biomaterials from the cosmetics industry is another key factor driving the growth of this segment.
- On the basis of application, the tissue engineering market is classified into cardiovascular tissue engineering, orthopedic & musculoskeletal tissue engineering, neural tissue engineering, skin & wound healing, and others. The orthopedic & musculoskeletal tissue engineering segment is expected to grow at the highest CAGR during the forecast period due to the increasing prevalence of orthopedic disorders and the rising demand for new and innovative orthopedic tissue engineering products.
- The application segment includes cardiovascular diseases, orthopedic diseases, neural & spinal cord injuries, wounds & burns, and others. Among these applications, the cardiovascular diseases segment is expected to grow at the highest CAGR during the forecast period. This is attributed to the rising prevalence of cardiovascular diseases and the increasing demand for effective tissue engineering-based therapies for treating these disorders.
- North America is expected to hold the largest share of the global tissue engineering market in 2017. This region is projected to grow at a healthy CAGR during the forecast period due to the increasing demand for new and innovative tissue engineering products and technologies. In addition, the rising prevalence of chronic diseases and disorders is another key factor driving the growth of this market.
- The Asia Pacific region is expected to grow at the highest CAGR during the forecast period due to the increasing healthcare expenditure, rising incidence of chronic diseases, and growing demand for effective tissue engineering-based therapies.
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Tissue Engineering Market: Competitive Landscape
Prominent players operating in the industry have undertaken collaborations and agreements to gain a competitive edge and gain a robust footing in the industry. Some prominent players profiled in the report are:
- Allergan, Plc
- Organogenesis Holdings, Inc.
- Integra LifeSciences Corporation
- Baxter International, Inc.
- RTI Surgical, Inc.
- ACell, Inc.
- Zimmer Biomet Holdings, Inc.
- Athersys, Inc.
- Medtronic, Plc.
- Tissue Regenix Group, Plc
- ReproCell, Inc.
- Stryker Corporation
Tissue Engineering Market Segmentation
- Synthetic Materials
- Biologically Derived Materials
- Musculoskeletal & Spine
- Skin and Integumentary
- Cord Blood and Cell Banking
- GI, Gynecology
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- Rest of MEA
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