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The global tissue engineering market accounted for US$ 5.5 billion in 2017. The market is further projected to witness a significnat CAGR of 11.5% over the forecast period (2018-2026).
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A range of treatments are required for the repair, replacement, or regeneration of damaged tissue in the human body, as various diseases and injuries result in tissue damage and degeneration. The prime focus of these treatments is the transplantation of the tissue from one site to another in the same patient (which is denoted as autograft), or from one individual to another (known as allograft).
Tissue engineering is an inter-disciplinarily research area, which finds extensive application in the repair of organs, and tissue regeneration and transplantation. The technology makes ample use of synthetic or naturally derived, engineered biomaterials for replacing the defective or damaged tissues.
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The key players involved in global tissue engineering market have been adopting strategies, such as mergers, acquisitions, and partnerships with various established companies. For instance, in 2017, FUJIFILM Corporation invested US$ 3.7 million in the regenerative medicine venture company NC Medical Research, Inc. with NC Medical granting Fujifilm a stock allocation.
Significant advancements in stem cell research, with a major focus on therapeutic potential for regenerative medicine and other biomedical applications, have driven the global market growth considerably. Stem cells, in combination with tissue engineering, offers innumerable growth opportunities for the market players, who have been looking to further advance modern medicine. The optimal cell source, scaffold design, and in vitro bioreactors, the use and development of microfabrication technology to create vascularized tissues and organs are still being investigated.
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Key Takeaways of the Global Tissue Engineering Market:
- Increasing organ transplantation procedures being carried out across the globe is a pivotal factor for the global market expansion.
- Among regions, Europe is expected to grow tremendously over the projected timeframe, owing to the presence of various public and private organizations focusing on research in the field of tissue engineering.
- The well-known players operating in the global tissue engineering market include 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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