The Global Tissue Engineering Market, accounted for US$ 5.5 billion in 2017, and is expected to witness an 11.5% CAGR over the forecast period (2018 – 2026).
Several diseases, trauma, and injury can cause damage or degeneration of tissues within the human body that requires treatments for enabling repair, regeneration or replacement of damaged tissues. Generally the treatment focuses upon transplanting tissues from one location to another within the same patient (autograft) or through one person to the other (an allograft or a transplant). Tissue engineering field is the research area that is inter-disciplinarily and consists of wider applications within organ repair, regeneration, along with tissue transplantation. This technology utilizes naturally-derived or synthetic, engineered biomaterials for replacing damaged or defective tissues, including bone, organs, and skin.
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Key players in the global tissue engineering market are focusing on partnerships, acquisitions and mergers, with smaller firms. For instance, FUJIFILM Corporation, in 2017, invested US$ 3.7 Mn in NC Medical Research, Inc., a venture company of regenerative medicine, where NC Medical granted a stock allocation to Fujifilm. Fast advances in research of stem cell, aiming on regenerative medicine’s therapeutic potential and other applications in biomedicine are expected to propel growth of the global tissue engineering market over the forecast period. Combined with tissue engineering, the stem cells project growth opportunities in modern medicine that is further advancing. Though there has been much progress made in the tissue engineering field, further research associated with tissue and organ replacement is needed. The scaffold design, in vitro bioreactors, optimal source of cells, development and use of microfabrication technology for creating vascularized organs and tissues are still under investigation.
Key Takeaways of the Tissue Engineering Market:
- The global tissue engineering market is expected to proliferate at an 11.5% CAGR over the forecast period (2018–2026), due to rising organ transplantation demand.
- Europe is expected to witness lucrative growth, due to several private and public organizations focused on research in tissue engineering field.
- Major players functioning in the global tissue engineering market are Acelity L.P. Inc., Athersys, Inc., Allergan Plc., B. Braun, Bio Tissue Technologies, BioMimetic Therapeutics, C. R. Bard, Integra Lifesciences, International Stem Cell, Medtronic, Inc., and Osiris Therapeutics, Organogenesis Inc., RTI surgical, Inc., Tissue Regenix Group Plc., Stryker Corporation, and Zimmer Biomet.
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