Global tissue engineering market is expected to reach USD 11.53 billion by 2022, according to a new report by Grand View Research, Inc. The demand for tissue engineering is expected to upsurge owing to the shift of focus from stem cell therapies to immunocelluar therapies. Moreover, companies such as Caladrius and Celyad changed their names from Cardio3 Bio NeoStem respectively to reflect their focus on immunotherapies.
The market is also experiencing industry-academia collaboration to make the commercialization of viable cell therapies possible. In July 2015, Fate Therapeutics, Inc. collaborated with theUniversity of Minnesota to research on Natural Killer (NK) therapeutics, which can detectand kill the malignant cells. The research is expected to accelerate with the use of programmed therapeutics by Fate Therapeutics.
With the technological advancements, researchers are working upon custom-made body parts with the aid of biomaterials and bio 3D printing. The demand for orthopedic implants is continuously growing; however, there is a gap between the demand and supply. To address such issues, researchers are experimenting with ways to find out alternatives, which use in-vitro testing and humane substitutes.
Investigators are working on ways to develop 3D printed organs, which can offer low-cost implantation. This step can revolutionize the 3D printing industry, but many hurdles such as donor availability, technologically-advanced 3D printers, and financial barriers have to be overcome. For instance, the cost of 3D printing ranges from USD 100 for tracheal split to USD 40,000 for nose bio-printing. Thus, there is a need for scientists and researchers to work on this multidisciplinary aspect of bio-printing.
Browse full research report on global tissue engineering market: http://www.grandviewresearch.com/industry-analysis/tissue-engineering-and-regeneration-industry
Further key findings from the report suggest:
- Orthopedics dominated the application segment in 2014 owing to the continuous launch of new products and research funding. In February 2016, Geistlich Pharma launched a range of bone harvesting instrument for the efficient collection of autogenous bone. Implant of only autogenous bone causes resorption and volume depletion. With the use of Geistlich Bio-Oss-pioneered technology, the volume as well as properties of bone is restored.
- North America was the largest regional market with a revenue share estimated at over 50% owing to the various mergers and acquisitions along with huge funds available for research. In March 2016, Zimmer Bimet acquired Ortho Transmission for its pioneered technology, which could restore limb amputee patients.
- By acquiring the skeletal implant technology, Zimmer can efficiently work on its current project received by the U.S. Department of Defense to develop external prosthetic limbs. Moreover, in February 2016, Canadian scientists from the University of Toronto’s dentistry pioneered a 3D printed method for absorbable bone-implant.
- Europe was the second largest market in 2014, due to the amount of research and the funding received by the research universities. For instance, in June 2014, the European Union funded the VascuBone project to offer an alternative to bone grafts. The University Hospital of Wurzburg developed a toolbox to bring together the solutions required to offer ideal therapy to patients.
- Countries in Europe are also expanding their research knowledge by partnering with other countries’ research firms. For instance, in March 2013, Johannes Gutenberg University Mainz and Chinese Academy of Sciences formed the Chinese-German Joint Center for Bio-Inspired Materials. The scientists will work on using marine animals for osteoporosis medication.
- Asia Pacific is the fastest growing regional segment on the account of increasing interest of foreign players to establish their facilities in economically developed countries such as India and Japan. In August 2013, the Japan Health Ministry approved the clinical trial of the developing induced pluriponent stem (iPS) cells for blindness. The cells are morphed into retinal cells and then given to six patients with macular degeneration (AMD).
- India is in an ascent stage of research and trying to develop in the tissue engineering area. In February 2016, India Biotechnology Event was held, where experts blamed the snail pace of development to the tedious and long approval process. The suggestion was to adopt Japan’s new executed law, where the sponsor has to demonstrate only the safety and efficacy studies of the device.
- Key players of this market includeMedtronic, Inc., Zimmer Biomet, Acelity, Acell, Inc., Athersys, Inc., Organogenesis, Inc., Stryker Corporation, Tissue Regenix Group Plc, RTI surgical, Inc., and ReproCell, Inc.
- Industry contributors are establishing their market presence by acquiring other companies or by launching new products in the market. In November 2015, ReproCell, Inc. acquired Biopta to leverage on Bipota’s clinical network in the U.S and the UK. Biopta has worked on around 500 new medicines and has partnerships with Scottish Enterprise and the NHS. Moreover, in February 2016, RTI Surgical, Inc. received exclusive licensing rights by RTI Surgical, Inc. Through this, RTI can access the OPM’s OsteoFab technology for spinal procedures.
Related reports by Grand View Research:
Grand View Research has segmented the global tissue engineering market on the basis of application andregions:
Tissue Engineering Application Outlook (Revenue, USD Million, 2012 – 2022)
- Cord Blood & Cell Banking
- GI & Gynecology
- Orthopedics, musculoskeletal and spine
- Cardiology & Vascular
Tissue Engineering Regional Outlook (Revenue, USD Million, 2012 – 2022)
- North America
- Asia Pacific
- Latin America
- South Africa
Access press release of this research report by Grand View Research: http://www.grandviewresearch.com/press-release/global-tissue-engineering-market
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