Global Tissue Engineering Market Research Report Insights and Industry Analysis by Material (Nano-Fibrous Material, Biomimetic Material), Application (Orthopedics, Musculoskeletal and Spine, Cancer, Skin/Integumentary, Dental, Cardiology) and Region, Competitive Market Size, Share, Trends, and Forecast, 2019-2024
The mounting importance of tissue engineering in the medical sector is boosting the global tissue engineering market, according to a report published by Market Research Future (MRFR). The latest research report on tissue engineering market states that it is likely to strike a moderate CAGR of 17.84% and is expected to achieve a valuation of USD 53,424.00 Mn by 2024.
Tissue engineering has become a field of increasing commercial interest. This refers to technologies that use physical, chemical, biological, and engineering processes to control and direct the cumulative behavior of cells. In another way, tissue engineering is considered to be comparatively newer field of research which uses methods of life sciences combined with clinical expertise. This helps in improving the function of diseased or damaged human tissues. Collaborations of scientists from across the world have led to the development of the latest research tools and scientific techniques, which are now incorporated continuously in modern tissue engineering techniques and helping the scientific field to grow constantly.
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The global tissue engineering market is flourishing on account of growing potential tissue engineering procedures in the treatments, which is supporting the market growth inevitably. Tissue engineering even provides the latest solutions, including transplants, surgical reconstruction, and more. Tissue engineering, being remarkably considered, is mainly served to create functional 3D tissues combining scaffolds, cells, and bioactive molecules. The application of the tissue engineering technique is also observed in rising fields of neurology, burn treatment, and urological products, which is proficiently fueling the tissue engineering market growth over the forecast period. Tissue engineering has even paved its ways across the growing cases of chronic diseases, road accidents, and traumatic injuries. These areas of purposes are contributing to the growth and development of the global engineering market during the assessment period. Due to these purposes and proficiency, the global tissue engineering market is expanding each year, which is inevitably bolstering the market growth.
Tissue engineering procedures have a huge probability of replacing the conventional tissue and repair using various treatments, primarily with the assistance of technological advancements. These advancements include 3D tissue engineering, where usage of 3D bio-printers is included to design in-vitro implants. With this, the replacement of embryo cells is done with proliferative stem cells. Such activities are predominant factors that are likely to boost the global tissue engineering market growth in the future timeline.
On top of it, 3D bioprinting is also emerging as a novel tissue engineering strategy with the growing geriatric population, increasing the incidence rate of chronic diseases. The emergence of 3D bioprinting is the current trend which has affected the global tissue engineering market owing to cost efficiency and increased focus of companies over tissue engineering-based therapies. These factors are pushing the global tissue engineering market towards growth, which is anticipated to expand exponentially during the forecast period.
The essential competitors shaping the global tissue engineering market are listed as Stryker (US), Allergan (US), Medtronic (Ireland), Zimmer (US), Baxter International (US), Integra LifeSciences (US), Organovo Holdings Inc (US), Cook Medical (US), DePuy Synthes (US), Acelity (US).
The future of the global Tissue Engineering Market is projected to remain rewarding. MRFR report offers a comprehensive segmental analysis of the global tissue engineering market, which is carried out based on material and application. By the mode of material, this market is segmented into nano-fibrous material, biomimetic material, composite material, nano-composite material. Among these, the biomimetic material segment is projected to exhibit the highest CAGR of 22.8 % from 2019 to 2024. Apart from this, the cost-effectiveness of nano-fibrous materials and their efficiency is derived to be fueling the growth of the global tissue engineering market. By the mode of application, this market is segmented into orthopedics, musculoskeletal, and spine, cancer, skin/integumentary, dental, cardiology, urology, neurology, cord blood & cell banking, GI & gynecology.
The global tissue engineering market valuation is spurred by gaining immense importance by the presence of prominent market players.
The regional evaluation of the global tissue engineering market includes regions such as Americas, Europe, Asia Pacific, and the Middle East & Africa. Among these, the Americas accounted for the largest market share in 2018 with a market valuation of USD 8,003.23 Mn, which is anticipated to strike 17.17% CAGR during the assessment period. Similarly, Europe remarkably held the second-largest market position in 2018 and was valued at USD 6,186.20 Mn. Whereas, now the global tissue engineering market is likely to exhibit a CAGR of 18.19% during the forecast period in Europe owing to cases of skin replacement, temporary wound by burns and treatment of diabetic leg and foot ulcers. With this, the factors responsible for the growth of the market in Europe are high availability of funds for research & development activities and rising support of the government for the life science domain.
The market of tissue engineering is the Asia Pacific is even expected to gain the highest CAGR of 18.43% owing to the presence of a pool of patients with the need for tissue transplantation. North America holds the largest tissue engineering market as it is witnessing the fastest growth owing to the mounting count of clinical trials to evaluate the therapeutic potential of products. With these, other factors such as the rising prevalence of chronic diseases, and growing public awareness related to the therapeutic potency of therapy are also bolstering the global tissue engineering market.
TABLE OF CONTENTS
1 Executive Summary$ 1,350.00
2 Market Introduction$ 0.00
2.1 Definition 14
2.2 Scope Of The Study 14
2.3 Assumptions & Limitations 15
2.3.1 Assumptions 15
2.3.2 Limitations 15
2.4 Market Structure 15
3 Research Methodology$ 0.00
3.1 Research Process 16
3.2 Primary Research 17
3.3 Secondary Research 18
3.4 Market Size Estimation 19
3.5 Forecast Model 19
4 Market Dynamics$ 950.00
4.1 Overview 20
4.2 Drivers 21
4.2.1 Growing Geriatric Population 21
4.2.2 Increasing Incidence Rate Of Chronic And Infectious Diseases 21
4.2.3 3D Bioprinting Emerging As A Novel Tissue Engineering Strategy Due To Its Cost Efficiency 21
4.2.4 Increased Focus Of Companies On Tissue Engineering-Based Therapies 21
4.3 Restraints 22
4.3.1 Lack Of Awareness Regarding Tissue Engineering 22
4.3.2 Lack Of Skilled Professionals 22
4.3.3 Stringent Regulatory Policies 22
4.4 Opportunity 23
4.4.1 Entering Developing Economies 23
4.4.2 High Demand For Tissue Engineering In Cosmetic And Reconstructive Surgery 23
4.5 Mega Trends 23
4.6 Macroeconomic Indicators 24
5 Market Factor Analysis
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This post was originally published on The Market Plan