Tissue Engineering Market is Expected to Reach $8.9 Billion | MarketsandMarkets™

Chicago, Jan. 22, 2024 (GLOBE NEWSWIRE) -- Tissue Engineering market in terms of revenue was estimated to be worth $4.4 Billion in 2023 and is poised to reach $8.9 Billion by 2028, growing at a CAGR of 15.3% from 2023 to 2028 according to a latest report published by MarketsandMarkets™. The growth is attributed to numerous factors including increasing incidences of road accidents, rising demand for regenerative medicines for the treatment of chronic diseases, and growing technological advancements in the biopharmaceutical sector. In addition, increasing research activities in the field of tissue engineering is promoting the growth of the tissue engineering market.

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Tissue Engineering Market Scope:

Report Coverage	Details
Market Revenue in 2023	$4.4 Billion
Estimated Value by 2028	$8.9 Billion
Growth Rate	Poised to grow at a CAGR of 15.3%
Market Size Available for	2021 - 2028
Forecast Period	2023 - 2028
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Product Type, Material, Application, and End User
Geographies Covered	North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa
Report Highlights	Updated financial information / product portfolio of players
Key Market Opportunity	Increasing technological advancements such as 3D printing and Quantum Magnetic Resonance Therapy (QMRT)
Key Market Driver	Growing need for regenerative medicines

3D bioprinting is an innovative technology in tissue engineering, that enables the precise fabrication of intricate tissue structures, vital for regenerative medicine and drug testing. Its development is primarily propelled by continual technological advancements, including improved bio inks and printing techniques, coupled with the critical need to address organ shortages and revolutionize medical treatments. Material innovation also plays a pivotal role, in fostering the creation of biocompatible substances essential for enhancing the viability and functionality of bio-printed tissues. Additionally, collaborative research efforts among multidisciplinary fields drive progress, promising transformative solutions in healthcare.

Based on product type, the tissue engineering market has been segmented into scaffolds, tissue grafts, and other products. In 2022, scaffolds accounted for the largest market share. Scaffold-driven tissue engineering hinges on biocompatibility, mechanical robustness, and optimal pore structure for cell infiltration and nutrient exchange. Integration of bioactive cues and vascular-like properties also fuels advancements, crucial for crafting functional and viable engineered tissues. These driving factors collectively shape scaffold design, influencing their efficacy in tissue engineering applications.

Based on material, the global tissue engineering market is segmented into synthetic materials and biologically derived materials. Synthetic material accounted for major market share of the tissue engineering market in 2022. The large share of this segment can be attributed to the cost effectiveness of the synthetic products as compared to the biologically derived products. In addition, increasing demand for advanced and cost-effective tissue engineering solutions is propelling the growth of the synthetic material segment in the tissue engineering market.

Based on application, the tissue engineering market is segmented into orthopedics & musculoskeletal disorders, dermatology & wound care, dental disorders, cardiovascular diseases, and others. In 2022, orthopedics & musculoskeletal disorders accounted for the largest share of the global tissue engineering market. The large share of the segment can primarily be attributed to rising demand for high quality tissue engineering products for the repair and reconstruction of damaged tissues or organs. Additionally, increasing incidences of road accidents are promoting the adoption of tissue engineering products for tissue reconstruction.

Based on end users, the tissue engineering market has been segmented into hospitals, specialty centers and clinics, and ambulatory surgical centers. Hospitals accounted for the largest market share of the tissue engineering market. The large share of the segment can primarily be attributed to the increasing demand for advanced regeneration solutions for the reconstruction and regeneration of tissues. Additionally, the increasing rate of chronic and degenerative diseases is driving the demand for hospitals.

The key regional markets for the global tissue engineering market are Europe, North America, Asia Pacific, Latin America, and the Middle East & Africa. In 2022, North America accounted for the largest share of the market. The large share of this region can be attributed to the growing technological developments in the healthcare sector and rising research activities for the advancements of the tissue engineering field. However, most of the growth in the market is expected from emerging countries across Asia Pacific. During the forecast period, the Asia Pacific is expected to grow with the fastest CAGR due to the increasing adoption of innovative technologies for the treatment of chronic and degenerative diseases.

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Tissue Engineering market major players covered in the report, such as:

• Organogenesis (US)
• AbbVie Inc. (US)
• Baxter (US)
• BD (US)
• B. Braun (Germany)
• TEIJIN Limited (Japan)
• Institut Straumann AG (Switzerland)
• Integra Lifesciences (US)
• Johnson & Johnson Services, Inc. (US)
• Medtronic (Ireland)
• NuVasive, Inc. (US)
• Stryker (US)
• Terumo Corporation (Japan)
• W. L. Gore & Associates Inc. (US)
• Zimmer Biomet (US)
• Smith & Nephew plc (UK)
• MIMEDX Group, Inc. (US)
• BioTissue (US)
• CollPlant Biotechnologies Ltd. (Israel)
• Sumitomo Pharma Co., Ltd. (Japan)
• Matricel GmbH (Germany)
• Mallinckrodt (US)
• Regrow Biosciences Pvt Ltd (India)
• Vericel Corporation (US)
• Tecnoss S.R.L. (Italy)
• Tegoscience (South Korea)
• Tissue Regenix (UK)
• and Among Others

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This report categorizes the Tissue Engineering market into the following segments:

Tissue Engineering Market, by Product Type

• Scaffold, By Material
  • Synthetic Material
  • Biological Material
    • Collagen
    • Hydrogel
    • Stem Cells
    • Others

Tissue Grafts, By Type

• Allograft
• Autograft
• Synthetic Grafts
• Xenograft
• Other Products

Tissue Engineering Market, by Material

• Synthetic Material
• Biologically Derived Material

Tissue Engineering Market, by Application

• Orthopedics & Musculoskeletal Disorders
• Dermatology & Wound Care
• Dental Disorders
• Cardiovascular Diseases
• Others 

Tissue Engineering Market, by End User

• Hospitals
• Specialty Centers and Clinics
• Ambulatory Surgical Centers

Tissue Engineering Market, by Region

• North America
  • US
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Europe (RoE)
• Asia Pacific (APAC)
  • Japan
  • China
  • India
  • South Korea
  • Rest of Asia Pacific (RoAPAC)
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America (RoLATAM)
• Middle East & Africa
  • Middle East
  • Africa

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Key Market Stakeholders:

• Pharmaceutical & Biopharmaceutical Companies
• Biotechnology Companies
• Healthcare Service Providers (Including Hospitals and Ambulatory Care Service Providers)
• Contract Development and Manufacturing Organizations
• Market Research & Consulting Firms
• Venture Capitalists & Investors
• Government Associations
• Academic & Research Institutes

Report Objectives:

• To define, describe, and forecast the global tissue engineering market based on application, material, product type, end user, and region.
• To provide detailed information regarding the major factors influencing the growth of the market (such as drivers, restraints, opportunities, and challenges)
• To strategically analyze micro-markets with respect to individual growth trends, future prospects, and contributions to the overall tissue engineering market
• To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders.
• To forecast the size of the market segments with respect to five main regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa
• To strategically profile the key players and comprehensively analyze their product portfolios, market positions, and core competencies.
• To track and analyze competitive developments such as acquisitions, agreements, collaborations, product launches, expansions, and R&D activities in the tissue engineering market.

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