Tissue Engineering Market worth $8.9 billion - Exclusive Report by MarketsandMarkets™

CHICAGO, Dec. 18, 2023 /PRNewswire/ -- 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 new report by MarketsandMarkets™. The growing demand for innovative tissue engineering solutions for the treatment of chronic diseases and for repair and regeneration of tissues and technological developments such as 3D bioprinting is promoting the growth of the tissue engineering market.

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Tissue Engineering Market Scope:

The scaffolds product type segment accounted for the largest share of the product type segment in the tissue engineering market in 2022.

Based on product type, the tissue engineering market has been segmented into scaffolds, tissue grafts, and other products. Tissue grafts are further categorized into allografts, autografts, xenografts, and synthetic grafts. In 2022, the scaffold segment accounted for the largest share of the tissue engineering market. Increasing research activities for the development of advanced solutions for the repair and reconstruction of damaged tissues and organs is driving the demand for scaffolds.

The synthetic material segment is expected to grow at a higher growth rate during the forecast period.

Based on material, the tissue engineering market has been differentiated into synthetic material and biologically derived material. The synthetic material segment holds a major market share and is expected to grow at a higher rate during the forecast period 2023-2028. This can be attributed to increasing demand for cost effective and advanced treatment solutions for tissue repair and regeneration. In addition, the increasing adoption of innovative cell therapies is promoting segment growth in the tissue engineering market.

The orthopedic and musculoskeletal disorders application segment accounted for the largest market share by application in the tissue engineering market in 2022.

By application, the tissue engineering market has been further categorized as cardiovascular diseases, dermatology & wound care, orthopedics & musculoskeletal disorders, dental disorders, and others. Orthopedics & musculoskeletal disorders accounted for the major market share of the tissue engineering market in 2022. The large share of this segment can be attributed to the increasing demand for high-quality advanced solutions for the treatment of bone diseases. The rising adoption of tissue engineering solutions for bone regeneration and tissue reconstruction is promoting the growth of the orthopedics & musculoskeletal disorders segment in the tissue engineering market.

The ambulatory surgical centers segment is expected to grow at a higher growth rate during the forecast period.

Based on end users, the tissue engineering market has been categorized into hospitals, specialty centers and clinics, and ambulatory surgical centers. The ambulatory surgical centers segment is expected to grow at a higher rate during the forecast period 2023-2028. Ambulatory surgical centers are also known as same-day surgery centers. The growing adoption of advanced surgical technologies and the rising need for less time-consuming surgical processes is promoting the growth of the ambulatory surgical centers segment in the tissue engineering market.

The North American region catered for the largest share of the tissue engineering market in 2022.

The tissue engineering market is segmented into North America, Europe, the Asia Pacific (APAC), Latin America (LATAM), and the Middle East and Africa (MEA). The rising research activities and technological advancements in the medical sector in the North American region are the major driving factors for the growth of the tissue engineering market. Additionally, increasing investments and funding for the development of innovative cell therapies for the treatment of degenerative diseases is promoting the growth of the tissue engineering market in the North America region.

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Tissue Engineering Market Dynamics:

Drivers:

1.  Growing need for regenerative medicines

Restraints:

1.  High treatment cost

Opportunities:

1.  Increasing technological advancements such as 3D printing and Quantum Magnetic Resonance Therapy (QMRT)

Challenge:

1.  Cost effective traditional organ transplant techniques

Key Market Players of Tissue Engineering Industry:

Key players in the tissue engineering market include 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), and Tissue Regenix (UK).

The primary interviews conducted for this report can be categorized as follows:

• By Respondent: Supply Side- 80% and Demand Side 20%
• By Designation: Managers - 45%, CXO & Directors - 30%, and Executives - 25%
• By Region: North America -40%, Europe -25%, Asia-Pacific -20%, Latin America -10% and Middle East & Africa- 5%

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Recent Developments:

• In September 2023, MIMEDX Group Inc. launched EPIEFFECT to broaden its advanced wound care product portfolio. EPIEFFECT is a lyophilized human placental-based allograft consisting of amnion and chorion membranes.
• In July 2023, Teijin Limited launched SYNFOLIUM, a cardiovascular surgical patch and received manufacturing and marketing approval in Japan. The cardiovascular surgical patch is used for the surgical treatment of congenital heart disease (CHD).
• In July 2021, Integra Lifesciences introduced SurgiMend, a collagen matrix. The product is used for soft tissue repair and reconstruction.
• In May 2020, AbbVie Inc. (US) acquired Allergan plc (Ireland) to expand the product portfolio in therapeutics categories. Allergan plc provides new growth opportunities to AbbVie Inc. in neuroscience with Vraylar, Botox therapeutics, and global aesthetics business.

Tissue Engineering Market - Key Benefits of Buying the Report:

The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall tissue engineering market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market's pulse and provide them with information on the key market drivers, restraints, opportunities, and challenges.

The report provides insights on the following pointers:

• Analysis of key drivers (rising funding and investments for the development of innovative tissue engineering products and growing need for tissue engineering solutions), restraints (strict regulations), opportunities (increasing technological advancements such as 3D bioprinting and organ-on-chip technology), and challenges (limited awareness for tissue engineering) influencing the growth of the market.
• Product Development/Innovation: Detailed insights on newly launched products of the tissue engineering market
• Market Development: Comprehensive information about lucrative markets - the report analyses the market across varied regions.
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the tissue engineering market
• Competitive Assessment: 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), and Tissue Regenix (UK).

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