Tissue Engineering Market Size to Reach USD 6815 Million by 2027 at a CAGR of 14.2% | Valuates Reports

BANGALORE, India, April 4, 2022 /PRNewswire/ -- The Global Tissue Engineering Market is Segmented by Type (Synthetic Scaffold Material, Biologically Derived Scaffold Material, and Others), Application (Orthopedics & Musculoskeletal, Neurology, Cardiovascular, Skin & Integumentary, Dental, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027. It is published in Valuates Reports under the Biological Sciences Category.

The global tissue engineering market was valued at USD 2,374 Million in 2019 and is projected to reach USD 6,815 Million by 2027, registering a CAGR of 14.2% from 2020 to 2027.

Major factors driving the growth of the Tissue Engineering market are:

The tissue engineering market is expected to grow due to an increase in the prevalence of chronic diseases and trauma emergencies, as well as increased awareness about tissue engineering, technological advancements in 3D bioprinting, and potential pipeline products. Furthermore, the market is expected to benefit from an increase in the number of R&D activities as well as increased awareness of tissue engineering in emerging economies.

The tissue engineering market is expected to grow due to the rising prevalence of cardiology and vascular disorders.

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TRENDS INFLUENCING THE GROWTH OF THE TISSUE ENGINEERING MARKET

Chronic diseases, traffic accidents, and trauma injuries are all on the rise, which is fueling the development of tissue engineering solutions. The number of people in need of bone implants is increasing, owing to an increase in chronic disease cases, trauma cases, and a longer average life span. These factors are expected to further increase the growth of the tissue engineering market.

The use of 3D bioprinters to efficiently design in vitro implants, as well as technological advancements in the field of 3D tissue engineerings, such as the replacement of embryo cells with stem cells, organ-on-a-chip technology, and the use of 3D bioprinters to efficiently design in vitro implants, are expected to boost growth. Furthermore, an increase in government funding for medical and academic research activities would boost tissue engineering market growth over the forecast period.

Furthermore, during the forecast period the tissue engineering market will grow due to rising demand from cardiology and vascular applications. The market is set to benefit from a surge in demand for heart transplantation in children with congenital malformations such as single ventricle anomalies.

Clinicians around the world face a severe shortage of donors for various transplantation procedures. Tissue engineering can compensate for the shortcomings of organ transplantation, and the growing popularity of 3D printing in medical applications for regeneration is expected to drive tissue engineering demand over the forecast period. Tissue engineering also has a bright future in terms of restoring 3D contour and restoring function to affected body parts.

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TISSUE ENGINEERING MARKET SHARE ANALYSIS

Based on type, the synthetic scaffold materials segment is expected to grow significantly, due to its efficiency over other naturally derived materials. Synthetic materials are preferred over natural ones because they produce better results.

Based on application, the cardiovascular segment is expected to have the highest market growth, due to an increase in the incidence of cardiovascular diseases and a surge in R&D activities to develop tissue-engineered products for cardiology.

Based on region, the Asia-Pacific region would exhibit the highest CAGR of 14.2% during 2019-2026. Due to rising awareness of tissue-engineered products, rising demand for advanced healthcare services in emerging economies, developing R&D sector, and increased presence of key players in the region, Asia-Pacific presents lucrative opportunities for key players operating in the tissue engineering market.

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By Companies

• Abbvie Inc. (Allergen Plc.)
• Braun Melsungen Ag
• Becton, Dickinson And Company (C. R. Bard, Inc.)
• Integra Lifesciences
• Organogenesis Holdings
• Sid Martin Biotech (Axogen)
• Smith & Nephew Plc. (Osiris Therapeutics)
• Tissuetech Inc.
• Vericel Corporation
• Zimmer Biomet Holdings, Inc.

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