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Global Tissue Engineering Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report – Segmented By Application & Region (North America, Europe, APAC, Latin America, Middle East and Africa) – Industry Forecast (2022 to 2027)

Published: January, 2022
ID: 12426
Pages: 190
Formats: report pdf report excel report power bi report ppt

Global Tissue Engineering Market Size (2022 to 2027)

The size of the global tissue engineering market is forecasted to showcase a CAGR of 15.67% from 2022 to 2027 and be worth USD 24.5 billion by 2027 from USD 11.83 billion in 2022.

Tissue engineering is an interdisciplinary field in which engineering and life science ideas are used to create biological substitutes that maintain or improve tissue function. Cells and biomolecules are mixed with scaffolds in this procedure. Scaffolding is a manmade or natural structure that resembles real organs. Tissue engineering is a process that involves the use of a variety of materials and cells. In addition, to replace and improve biological tissues, this technology uses physicochemical and biochemical parameters. Finally, to restore tissue surgically, the technology combines molecular and cellular methods with material engineering principles.

Impact of COVID-19 on the global tissue engineering market:

Around 210 countries have been affected by COVID-19. The COVID-19 pandemic has had a significant influence on the healthcare industry. Clinical tissue engineering research has been unavailable since the COVID-19 pandemic, and non-COVID-19 clinical studies have been drastically limited. Furthermore, a considerable decrease in cell and tissue donation programs has a detrimental impact on the tissue engineering market's growth. Meanwhile, numerous pharmaceutical and biotech companies have moved their focus to develop COVID-19 therapy medications and vaccines. In viral outbreaks, tissue engineering has the potential to have a significant impact on clinical outcomes. Given their ability to apply engineering principles to biological processes, experience in collaborative situations, and predilection for technological translation from benchtop to bedside, tissue engineers could play crucial roles as leaders in the pandemic if deployed.

With the current coronavirus (COVID-19) pandemic and other viral outbreaks in the twenty-first century, new diagnostic and therapeutic ways to tackle infectious diseases are urgently needed around the world. Tissue engineering has typically focused on applying engineering ideas to biological systems, cross-disciplinary collaboration, and quick translation of technologies from the bench to the bedside as a convergence science. However, because of the recent new coronavirus (COVID-19) pandemic, there is an obvious need for viral outbreak detection and therapies advancements.

MARKET DRIVERS:

Y-O-Y rise in demand for effective regeneration treatments as the prevalence of diabetes, obesity, and other illnesses rises as a result of lifestyle changes, an aging population, and an increase in the number of trauma cases are expected to drive the expansion of the global tissue engineering market.

Tissue engineering treatments' potential for treating irreparable tissue damage has boosted the market growth. The further growth is predicted to be boosted by the use of 3D bioprinters to efficiently create in vitro implants and technological developments in the field of 3D tissue engineering, such as the replacement of embryo cells with stem cells organ-on-a-chip technology.

Furthermore, increased government funding for medical and academic research activities boosts tissue engineering market growth over the forecast period. Stem cell therapies have tremendous therapeutic potential in a variety of clinical settings. As a result, significant global investments in research and clinical translation have been made. Rapid advancements in stem cell research help with illness management. As the frequency of cancer, diabetes, and other chronic diseases has increased, so has research into stem cells. Researchers employ cultured stem cells to reprogram stem cells to restore an organ's normal function or construct an artificial organ transplant. Because stem cells are used in various applications, the tissue engineering market is expected to expand.

Chronic diseases, traffic accidents, and trauma injuries are all on the rise, fueling the development of tissue engineering treatments. In addition, the number of persons in need of bone implants is increasing, owing to an increase in chronic disease cases, trauma cases, and longer average life duration. Furthermore, there is a demand for relatively inexpensive and readily available skin-replacement products, which has prompted several research groups worldwide to develop biomaterials for skin replacement. The modified tissues close wounds and stimulate dermis regeneration, which could be beneficial in human wound healing.

MARKET RESTRAINTS:

The expansion of the global tissue engineering market is expected to be hampered by government regulations and costly treatment costs.

Despite the increased interest in tissue engineering research, ethical and legislative questions have hindered progress. For example, ethical, political, and religious opposition to embryonic stem cell research, which predominantly derives from discarded non-transferred human embryos, has skewed research toward adult stem cells and severely limited federal funding in the United States.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 to 2027

Base Year

2021

Forecast Period

2022 to 2027

Segments Covered

By Application and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

 

This research report on the global tissue engineering market has been segmented and sub-segmented based on application and region.

Tissue Engineering Market - By Application:

  • Cord blood & Cell Banking
  • Cancer
  • GI, Gynecology
  • Dental
  • Skin & Integumentary
  • Urology
  • Orthopedics, Musculoskeletal, & Spine
  • Neurology
  • Cardiology & Vascular
  • Others

Tissue Engineering Market - By Region:

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

Due to increased awareness of stem cell therapy and an increasing geriatric population, North America accounted for the most significant share in 2020 in the global tissue engineering market. Furthermore, better technology for the detection and treatment of chronic illnesses, the availability of private and government funding, and high healthcare spending contribute to tissue engineering gaining a more significant proportion of the regional market. Due to the availability of government money and substantial private sector investments, the United States is expected to account for a substantial revenue share. In terms of technological innovation and translational advancement, the transformative impact of employing regenerative medicine clinically is essential.

Due to the rising demand for regenerative medicines, the Asia Pacific geographical sector is predicted to develop at the quickest rate over the forecast period. Medical tourism is also on the rise, which is helping to propel the sector forward. Furthermore, the rising burden and changing lifestyle are expected to impact market growth over the forecast period substantially. For example, smoking causes more than one in every five cardiovascular diseases in Asia, such as heart attack and stroke. Japan is one of the most forward-thinking countries when it comes to tissue engineering technology. Furthermore, an increase in the frequency of clinical disorders, such as cancer in Asia, is likely to fuel expanding the tissue engineering market in the area. Its regulatory approach also encourages the approval of clinical trials more quickly.

Due to growing research efforts, rising demand for organ transplants, an increasing number of market players endeavors to extend their presence in the region, and more robust adoption of stem cell research in numerous European countries, Europe is predicted to grow at a considerable CAGR. Furthermore, because of expanding government support, rising demand for cosmetic procedures, and favorable rules and data requirements in European healthcare systems, France and the United Kingdom provide considerable growth potential for companies in the tissue engineering market.

KEY MARKET PARTICIPANTS:

Stryker, Allergan, Medtronic, Zimmer, Baxter International, Integra LifeSciences, Organovo Holdings Inc., Cook Medical, DePuy Synthes, and Acelity are some of the prominent companies operating in the global tissue engineering market and profiled in this report.

RECENT HAPPENINGS IN THIS MARKET:

  • ACell and MyungMoon Bio Co. Ltd. announced an exclusive distribution agreement for ACell's wound treatment treatments Cytal Wound Matrix and MicroMatrix in South Korea in March 2019.
  • ACell received an additional 510(k) FDA clearance for their Gentrix product line in April 2019. As a result, the indications for using the company's Gentrix surgical matrix products have grown.
  • The COVID-19 pandemic has caused a significant interruption in ordinary scientific tasks such as tissue engineering and regenerative therapies, according to Medscape in July 2020.
  • In November 2020, Stryker stated that it had cleared all regulatory hurdles in the path of its planned USD 4.7 billion acquisition of Wright Medical. The contract proposal was started in November 2019 and will be completed in November 2020.
  • Medtronic plc bought Companion Medical, Inc. in August 2020. The addition of Companion Medical's InPen to the Medtronic portfolio expands the company's ability to serve diabetic patients and provide them with a unique and comprehensive service environment regardless of how insulin is delivered.

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