Tissue Engineering Market Size By Top Key Vendors, Industry Growth and Application, Forecast 2020-2027
Global Tissue Engineering Market: Information by Material (Nano-fibrous Material, Biomimetic Material, Composite Material and Nano-composite Material) by Application (Orthopedics, Musculoskeletal and Spine, Skin/Integumentary, Cancer, Dental, Cardiology, Urology, Neurology, Cord Blood & Cell Banking and GI & Gynecology) and Region - Forecast till 2027
Market Analysis
The global tissue engineering market is poised to grow at a healthy 17.22% CAGR over the estimated years (2017-2022). Tissue engineering simply put, is the utilization of combination of engineering materials, suitable biochemical factors and cells to replace or augment biological functions for repairing damaged organs and tissues. It is a method of biomaterial development combining biologically active molecules, cells and scaffolds into functional tissues. Tissue engineering creates functional constructs which restore, improve or maintain whole organs or damaged tissues. It can replace the presently used tissue repair solutions such as mechanical devices, surgical reconstruction and transplants. Tissue engineering has a couple of key application segments including neurology, cardiology and vascular, spine, orthopedics, musculoskeletal, urology, dental, skin or integumentary, GI and gynecology, cord blood and cell banking and cancer.
There are numerous factors that is driving the growth of the tissue engineering market. These factors according to MRFR (Market Research Future) report include increasing cases of road accidents, trauma injuries and chronic diseases, increasing government funding and initiatives for ongoing tissue regeneration research, recent technological advancements namely use of nanotechnology in the process of tissue regeneration and 3D tissue engineering and increasing prevalence of cancer. On the contrary, stringent regulations for approvals, high price of tissue engineering treatment, time taking method to develop tissues, and concerns associated to hidden diseases or illness in the base tissue are some factors that may deter the tissue engineering market growth over the estimated years.
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Market Segmentation
MRFR report offers a complete segmental analysis of the tissue engineering market on the basis of materials and applications.
Based on materials, it is segmented into nano-composite material, composite materials, nano-fibrous materials and biomimetic materials. Of these, nano-fibrous segment will dominate the tissue engineering market over the estimated years.
Based on applications, the tissue engineering market is segmented into GI and gynecology, cord blood and cell banking, neurology, urology, cardiology, dental, cancer, skin/integumentary and orthopedics, musculoskeletal and spine. Of these, orthopedics, musculoskeletal and spine will have the maximum share in the market over the estimated years.
Regional Analysis
By region, the tissue engineering market covers growth opportunities and latest trends across North America, Europe, Asia Pacific and the Middle East and Africa. Of these, North America will have an edge over others during the estimated years. The factors can be attributed to growing developments in regeneration surgeries, especially stem cell research that has opened new opportunities, existence of global market players and constant technological development methods. The tissue engineering market in Europe will hold the second major share owing to accessibility of funds for R&D activities, increasing support from the government for life science sector and industries that are constantly focusing and also upgrading 3D technology that is offering enhanced and better tissue and organ printing methods. In the APAC region, the tissue engineering market will grow at the fastest pace over the estimated years owing to improved economic situations in the healthcare sector, more focus by the government on R&D in the healthcare domain, increasing use of technological development in the healthcare domain leading to improvement in healthcare facilities which is projected to fuel the market in this region over the estimated years. On the other hand, the tissue engineering market in the Middle East and Africa is projected to have limited growth owing to less encouragement in the healthcare sector from the government, dearth of advanced medical facilities and limited access to healthcare resources.
Key Players
Leading players profiled in the tissue engineering market include Stryker, Zimmer Inc., Medtronic, DePuy Synthes Companies, Baxter, Acelity and Cook.
March 2019- The Department of Biomedical Engineering in UCI are coming up with a tissue engineering approach for TMJ disorders. They are creating biological TMJ discs which will be ideal for human implantation. The end product which they aspire to use to treat the TMJ disc afflictions is a product that is tissue-engineered which is fully biological, alive and mechanically comparable with the real thing.
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