Tissue engineering involves use of a combination of cells, engineering and materials methods, and suitable biochemical and physicochemical factors to improve or replace biological tissues. Tissue engineering provides alternatives to overcome issues related to shortage of organ donors.
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 key trends:
Technological advancements have enabled increased use of 3D bioprinting for tissue engineering applications in regeneration of various tissues and organs. 3D bioprinting uses layer-by-layer deposition of biomaterials, living cells, growth factors, and other components to produce three-dimensional structures mimicking native tissues. The development of decellularized tissues with cell-interactive cues that guide tissue regeneration is also fueling the growth of the tissue engineering market.
Segment Analysis
The global tissue engineering market is dominated by the cardiovascular segment, accounting for over 30% share. The cardiovascular segment includes engineered products for treatment of cardiovascular diseases such as heart disease and coronary artery disease. It is growing at a high rate owing to the increasing prevalence of cardiovascular disorders and rising need for tissue regeneration therapies.
Key Takeaways
The Global Tissue Engineering Market Growth is expected to witness high growth, exhibiting CAGR of 11.% over the forecast period, due to increasing prevalence of chronic diseases and rising demand for tissue replacement therapies.
Regional analysis
North America currently dominates the global tissue engineering market, accounting for over 40% share. The dominance is attributed to factors such as high adoption of advanced medical technologies, growing geriatric population, rising incidence of chronic diseases and strong healthcare infrastructure. Asia Pacific is expected to be the fastest growing region due to increasing medical tourism, large patient population, rising healthcare spending and improving healthcare facilities.
Key players
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.
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