The global Tissue Engineering Market is estimated to be valued at US$ 10570.17 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Tissue engineering involves the use of a combination of cells, engineering and materials methods, and suitable biochemical and physicochemical factors to improve or replace biological tissues. Tissue engineering products are mainly used to heal or regenerate damaged tissues and organs. Such materials act as ‘scaffolds’ for tissue formation, which when implanted into the body, help restore tissue functions.
Market key trends:
Tissue engineering technology has seen rapid advancements in the past decade. Three-dimensional (3D) bioprinting is a major trend in the tissue engineering field. The 3D bioprinting technology enables the precise placement of biomaterials, cells, and other compounds layer by layer to fabricate living and functional tissues that mimic natural tissue architectures. Researchers are also investigating the potential of tissue engineered constructs in regenerating various tissues like heart muscle, cartilage, bone, liver, and pancreas. Another key trend is the development of scaffold-based approaches for tissue engineering using both natural and synthetic biomaterials with tailored physical, mechanical, and biological properties to facilitate tissue regeneration.
Segment Analysis:
Content: The global tissue engineering market is segmented based on type, application, and end user. By type, the market is bifurcated into synthetic materials and biologically derived materials. The biologically derived materials segment dominated the market in 2021 owing to its advantages over synthetic materials such as enhanced biocompatibility and reduced risks of inTissue Engineering Marketflammatory and immunogenic reactions. Biologically derived materials stimulate the natural healing process of damaged or diseased tissues.
Key Takeaways:
The Global Tissue Engineering Market Size is expected to witness high growth, exhibiting a CAGR of 11% over the forecast period, due to increasing prevalence of chronic diseases and rising geriatric population.
Regional analysis: North America dominated the global market in 2021 and is estimated to maintain its dominance during the forecast period. This is attributed to increasing research funding and presence of major market players in the region. Asia Pacific is anticipated to witness fastest growth rate owing to rapidly developing healthcare infrastructure and increasing healthcare spending.
Key players analysis: Key players operating in the tissue engineering market are Acelity L.P. Inc., Allergan Plc., Athersys, Inc., B. Braun, BioMimetic Therapeutics, Bio Tissue Technologies, C. R. Bard, International Stem Cell, Integra Lifesciences, Medtronic, Inc., Organogenesis Inc., Osiris Therapeutics, RTI surgical, Inc., Stryker Corporation, Tissue Regenix Group Plc., and Zimmer Biomet. Major players are focusing on new product launches, collaborations and mergers & acquisitions to strengthen their market position. For instance, in 2021, Organogenesis Inc. acquired Skye Biologics Holdings, LLC to expand its portfolio of regenerative medicine products.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it