New York, USA, June 09, 2023 (GLOBE NEWSWIRE) -- Tissue Engineering Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Tissue Engineering Market Information By Material, Application and Region – Market Forecast Till 2030”, the market is projected to grow from USD 1.4 Billion in 2023 to USD 3.1 billion by 2030, exhibiting a CAGR of 14.10% during the forecast period (2023 - 2030).
Market Scope:
Tissue engineering is a branch of biomedical engineering that blends engineering, material science, and the appropriate biochemical and physicochemical characteristics with cells. Tissue engineering (TE), a rapidly growing area, converts fundamental understanding of physics, chemistry, and biology into practical materials, technologies, and treatment methods to repair, replace, or regenerate tissues or organs.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 3.1 Billion |
| CAGR | 14.10% |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2021 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Material And Application |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Rising prevalence of chronic diseases and trauma situations |
| Increased knowledge of tissue engineering, 3D bio-printing technology, and future pipeline goods. |
Tissue Engineering Market Competitive Outlooks:
Key Companies in the market of tissue engineering includes
- Stryker
- Allergan
- Medtronic
- Zimmer
- Baxter International
- Integra LifeSciences
- Organovo Holdings Inc
- Cook Medical
- DePuy Synthes
- Acelity
Tissue Engineering Market Trends:
Market Drivers
The rising incidence of chronic diseases and trauma cases, as well as growing knowledge of tissue engineering, 3D bioprinting technology, and future pipeline products, are the main market drivers for the expansion. The rise in chronic diseases, traffic accidents, and trauma injuries is demonstrated to have an impact on the development of tissue engineering treatments. More people are in need of bone implants as a result of rising rates of chronic diseases, trauma cases, and longer average lifespans. Road accidents are one of the world's top killers because they badly harm bones and organs. Surgery, organ transplantation, and mechanical device repair are all alternatives for healing damaged tissues that can be replaced by tissue engineering. The main reasons propelling the tissue engineering market are the rising prevalence of diabetes, obesity, and other illnesses brought on by lifestyle changes, an aging population, and an increase in trauma cases. As a result, this element is fueling the market CAGR.
Due to the rising demand for regenerative medicine and the potential of tissue engineering therapies to repair irreparable tissue damage, the market is growing. The market is developing as a result of the rise in regenerative medicine demand as well as the incidence of disorders including diabetes, obesity, and other ailments. Other reasons such as lifestyle-induced changes, an aging population, and an increase in traumatic injury cases are predicted to boost the industry's expansion over the projection period.
Market Limitations
Current tissue engineering techniques have a number of drawbacks, including ineffective cell growth, unstable and insufficient growth factor production that hinders cell communication and proper response, and a lack of appropriate biomaterials and techniques to record appropriate physiological architectures.
The inability to control cellular processes and their varied properties (biological, mechanical, electrochemical, and others), as well as problems with biomolecular detection and biosensors, are major limitations of tissue engineering. The market's growth is also limited by the expensive nature of the treatment and ongoing developments, despite the growing interest in tissue engineering research.
COVID-19 Analysis:
The COVID-19 epidemic has had a tremendous influence on the healthcare industry. Clinical tissue engineering research has been stopped since the COVID 19 pandemic, and non-COVID 19 clinical investigations have been scaled back. In the interim, several pharmaceutical and biotech firms have shifted their focus to the development of COVID-19 treatment drugs and vaccines. Additionally, a sharp fall in cell and tissue donation programs has placed restrictions on the worldwide tissue engineering market. Delays and disruptions in clinical research, as well as cancellations or delays in tissue replacement and reconstructive procedures, have a negative impact on the global tissue engineering market.
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Tissue Engineering Market Segmentation:
By Material
According to statistics from the tissue engineering market, the biomimetic material category held the largest share in 2022. Biomimetic materials have shown great promise in tissue engineering due to their ability to mimic the properties of natural tissues and provide an environment that supports cell growth and tissue synthesis. Biomimetic materials have the potential to revolutionize tissue engineering by providing materials that may closely resemble the traits of natural tissues and make it easier to produce usable, healthy tissues.
By Application
Due to increased use of tissue-engineered products for orthopedic and musculoskeletal applications, increased commercialization of products for bone and cartilage repair, widespread product availability, and an increase in musculoskeletal disorders as a result of increased public awareness of these products, the musculoskeletal spine segment dominated market growth in 2022 and is projected to be the fastest-growing segment during the forecast period, 2022–2030.
Tissue Engineering Market Regional Analysis:
Because of the rising older population and increased awareness of stem cell therapy, the North American tissue engineering market, which had a share of about 45.80% in 2022 and was projected to reach USD 0.6 billion, is anticipated to rise at a substantial CAGR over the study period. The availability of private and governmental funding, major healthcare spending, and advanced technologies for the detection and treatment of chronic illnesses all support a larger share of the local market.
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The second-largest market share belongs to the tissue engineering market in Asia Pacific. Japan is one of the countries pioneering the advancement of tissue engineering science. Additionally, it is predicted that the incidence of clinical diseases like cancer will increase, which will encourage market growth in the Asian tissue engineering region. Regional medical tourism and the advancement of 3D bioprinting are other elements promoting the sector's growth. Additionally, the region's fastest expanding market for tissue engineering was in India, while China held the greatest market share.
Due to the rising demand for advanced healthcare services in emerging nations, the region's expanding R&D sector, and the expanded presence of significant firms in the market, Europe tissue engineering market is anticipated to grow at the quickest CAGR from 2022 to 2030. In addition, the sector has grown significantly as a result of regenerative medicine emphasis and developing healthcare infrastructure. Additionally, the region's fastest expanding market for tissue engineering was in Germany, while the UK market had the biggest market share.
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