The tissue engineering market was valued at US$ 9,529.21 million in 2019 and is expected to grow at a CAGR of 13.5% from 2020 to 2027 to reach US$ 25,586.55 million by 2027.
According to The Insight Partners market research study of ‘Tissue Engineering Market to 2027 – Global Analysis and Forecasts by Material Type, and Application’. The report provides trends prevailing in the global tissue engineering market and the factors driving market along with those that act as hindrances.
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Tissue engineering is a technique, which is used as a combination of material methods and cells. Also, this technique follows the physicochemical and biochemical factors to replace and improve the biological tissues. It is an exciting strategy that works on the scaffolds, stem cells, regenerative medicine and growth factors or negotiators either in isolation or in combination. The technique uses molecular and cellular methods to combine with material engineering principles to restore tissue surgically. The growth of the Tissue Engineering market is attributed to the some key driving factors such as increase incidences of chronic diseases, road accidents, and trauma injuries and technological advancements in the field of 3D tissue engineering. However, high cost of treatments related to tissue engineering is expected to restraint the growth of the market during the forecast years.
Technological Advancements in the Field of 3D Tissue Engineering
3D bioprinting has rapidly transformed the healthcare sector in the last few years. This technology has advanced the development of tissue with clinical potential, paving the way for high-throughput applications for drug discovery. 3D bioprinting tissue-engineering helps in the healing of injuries; new breakthroughs in the 3D printing technique are projected to offer a potential treatment option for organ failure in future. Many research organizations are working toward finding new therapies to treat organ failure and repair cells of damaged tissues. For instance, in 2017, researchers at Penn State University discovered a revolutionary way to print tissues and organs with the use of an “electrospinning printer” that spins fibers seeded with cells to create fiber layers. This technology is both cheaper and offers an opportunity to spin polymer fibers such as collagen layers with precision and in a more controlled manner.
The tissue engineering market is expected to grow, increase incidences of chronic diseases, road accidents, and trauma injuries and technological advancements in the field of 3D tissue engineering. However, high cost of treatments related to tissue engineering is expected to restraint the growth of the market during the forecast years.
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Based on Material Type, tissue engineering market, by material type, is segmented into synthetic material, biologically derived materials and others. The biologically derived materials segment held the largest share of the market in 2019 owing to malfunctioning, tissue injury, or disease and aging are expected to increase the demand for biologically derived materials in the forecast period. The market for synthetic material is expected to register the highest CAGR in the market during the forecast period due to demand in the in the biomedical field because of their properties, including degradation time, porosity, and mechanical characteristics. The tissue engineering market, by application, is segmented into orthopedic, musculoskeletal & spine, neurology, cardiology and vascular, skin and others. In 2019, the orthopedic, musculoskeletal & spine accounted for the largest market share in the global tissue engineering market owing to increasing trauma and accidents cases. Apart from this, Tissue engineering has an immense potential to revolutionize regenerative medicine. The main objective of tissue engineering is to improve the biological functions of damaged or missing organs and tissues. The research activities related to tissue engineering have expanded from the repairing, replacement, and regeneration of blood vessels, bone, and organs such as heart and kidney to the delicate nervous system.
Tissue Engineering Market: Competitive Landscape and Key Developments
Stryker Corporation, Organogenesis Inc., Cook Biotech Inc., Integra Life Sciences Corporation, Acelity L.P.Inc, Allergan Plc., Medtronic, Zimmer Biomet, Baxter International Inc. and DePuy Synthes (Johnson & Johnson Services, Inc.) are among the leading companies operating in the Tissue Engineering market.
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