Tissue Engineering Market Trend- Rising Awareness About Tissue Engineering
Increasing number of trauma and emergency cases worldwide, rising prevalence of chronic diseases, and ongoing research on tissue engineering are some key factors expected to drive global Tissue Engineering market growth.
Tissue engineering is a biomedical engineering discipline, comprising combination of cells, material methods, engineering, and certain biochemical and physicochemical factors for regenerating, repairing, or replacing different types of biological tissues. It provides alternatives to surgical reconstructions and transplants used for repairing damaged tissues. Tissue engineering is widely used in clinical management of organ therapeutics. There have been rapid advancements in tissue engineering technology due to rising prevalence of obesity, diabetes, cancer, and other lifestyle-associated diseases.
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Factors such as growing demand for regenerative medicine, rising geriatric population, rapid advancements in stem cell therapy and 3D tissue engineering, and increasing investments in research and development activities are expected to drive global market revenue growth during the forecast period.
However, lack of well-developed infrastructure for tissue engineering, shortage of donors insufficient funds for deploying advanced systems and devices, and dearth of skilled expertise and technicians are some key factors that can hamper overall market growth to a certain limit over the forecast period.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Biologically Derived Materials Segment To Register Rapid Revenue CAGR:
The biologically derived materials segment is expected to register rapid revenue CAGR over the forecast period owing to increasing prevalence of various chronic conditions and high preference for biologically derived materials for its properties such as biodegradability, and biocompatibility, good cell recognition.
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Orthopedics, Musculoskeletal and Spine Segment to Account for Largest Revenue Share:
The orthopedics, musculoskeletal, and spine segment is expected to account for largest revenue share between 2020 and 2027. This can be attributed to rising prevalence of various musculoskeletal diseases across the globe, rapid advancements in 3D tissue engineering, growing demand for tissue engineering for bone substitutes and grafts, and high focus on developing and launching new products.
North America to Lead In Terms of Revenue Share:
North America is expected to account for largest revenue share in the global market during the forecast period owing to large patient pool, rising demand for regenerative medicine, presence of well-developed research facilities and infrastructure, ongoing research on tissue engineering, and increasing R&D investments
Major Companies in the Market Include:
- Allergan, Plc
- Organovo Holdings, Inc.
- Integra LifeSciences Corporation
- Baxter International, Inc.
- RTI Surgical, Inc.
- Zimmer Biomet Holdings, Inc.
- Athersys, Inc.
- Medtronic, Plc.
- Tissue Regenix Group, Plc
- ReproCell, Inc.
- Stryker Corporation
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For the purpose of this report, Emergen Research has segmented the global tissue engineering market on the basis of type, application, and region:
Type Outlook (Revenue, USD Billion; 2017–2027)
- Synthetic Materials
- Synthetic Polymer
- Biologically Derived Materials
Application Outlook (Revenue, USD Billion; 2017–2027)
- Orthopedics, Musculoskeletal and Spine
- Cord Blood and Cell Banking
Regional Outlook (Revenue, USD Billion; 2017–2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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