Zion Market Research has published a new report titled “Tissue Engineering Market by Application (Gynecology, Cell Banking & Cord blood, Dental, Urology, Integumentary & Skin, Cardiology, Neurology, Musculoskeletal, Orthopedics, & Spine, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2026”. According to the report, global demand for tissue engineering market was valued at approximately USD 9.88 billion in 2019, and is expected to generate revenue of around USD 25.68 billion by end of 2026, growing at a CAGR of around 14.8% between 2020 and 2026.
Tissue engineering is the practice of a combination of engineering, cells, and supplies methods, and appropriate physicochemical and biochemical factors to advance or substitute biological tissues. Tissue engineering progressed from the field of biomaterials development and refers to the practice of combining scaffolds, cells, and biologically active molecules into functional tissues. The goal of tissue engineering is to assemble functional constructs that restore, maintain, or improve damaged tissues or whole organs. Artificial skin and cartilage are examples of engineered tissues that have been approved by the FDA.
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The global demand for tissue engineering market is driven by growing adoption of tissue engineering in regenerative medicine industry, rise in healthcare expenditure, and increasing funding for research and development. However, lack of awareness and high cost may act as restraining factors for the market growth in the coming years. Increasing collaboration and technological advancements are projected to bring new growth avenues for market players during the forecast timeframe.
The tissue engineering market has been divided into service and region. Based on application, global tissue engineering market is segmented into gynecology, cell banking & cord blood, dental, urology, integumentary & skin, cardiology, neurology, musculoskeletal, orthopedics, & spine, and others. Market was dominated by musculoskeletal, orthopedics, & spine segment in 2019 and is projected to retain its dominance over the forecast timeframe. This is because of high number of spine and orthopedic surgeries.
North America held largest revenue share of the global tissue engineering market in 2018. This large share is attributed to high prevalence of lifestyle related disorders, government funding, and presence of state-of-the-art treatment facilities in this region. Europe was second leading regional market in terms of revenue. Availability of developed infrastructure, increasing geriatric population, and growing awareness are major factors that support market growth in this region. Asia Pacific region is projected to be rapidly growing regional market for tissue engineering. Increasing geriatric population base, improvement of healthcare infrastructure, increasing disposable income and healthcare spending, growing awareness are major factors attributing to the swift growth in this region. Moderate growth is projected in Latin America region over the forecast period. Middle East and Africa will witness sluggish growth in the coming years.
Major players in tissue engineering market are Zimmer Biomet Holdings, Inc, Medtronic plc, Allergan plc, ell, Inc., Athersys, Inc, Tissue Regenix Group plc, Organogenesis Holdings Inc, Stryker Corporation, Integra LifeSciences Corporation, RTI Surgical, Inc., Baxter International, Inc., ReproCell, Inc., and Integra LifeSciences Corporation among others.
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The report segment of global tissue engineering market as follows:
Global Tissue engineering Market: Application
- Cell Banking & Cord blood
- Integumentary & Skin
- Musculoskeletal, Orthopedics, & Spine
Global Tissue engineering Market: By Region
- North America
- The U.S.
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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