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Tissue Engineering Market: Segmented by Material type (Synthetic material, Biologically derived material); by Application (Orthopedics and Musculoskeletal, Neurology, Cardiology and Vascular, Skin and Others) and Region - Global Analysis of Market Size, Share & Trends for 2019-2020 and Forecasts to 2030
[170+Pages Research Report Tissue Engineering Market to surpass USD 41.47 billion by 2030 from USD 11.13 billion in 2020 at a CAGR of 14.06% in the coming years, i.e., 2021-30.
Tissue engineering is an interdisciplinary discipline in which engineering and life science concepts are used to create biological replacements that restore, maintain, or improve tissue function. It is a process that involves the use of a variety of materials and cells. In addition, to replace and enhance biological tissues, this approach uses physicochemical and biochemical variables. It's an interesting technique that combines scaffolds, stem cells, regenerative medicine, and growth factors or negotiators in one or more ways. To repair tissue surgically, the approach combines molecular and cellular procedures with material engineering concepts. Tissue engineering offers an alternative to surgical reconstruction, transplants, and other mechanical devices for tissue healing.
Global Tissue Engineering Market is expected to project a notable CAGR of 14.06% in 2030.
Due to the growing opposition to using animals in medical research, the market for tissue engineering is expected to increase rapidly. Engineered human tissue is increasingly being utilized in place of animals in pharmacological testing. The use of animals in medical experimentation on reputable grounds is becoming a source of contention, particularly in poorer countries. Over the forecasted timeframe, growing chronic disease occurrences are expected to fuel market expansion. Furthermore, the growing incidence of kidney-related diseases is expected to boost tissue engineering market growth throughout the predicted decade.
Recent highlights in the Global Tissue Engineering Market
Biologically derive material segment to grow with the highest CAGR during 2020-30
Global Tissue Engineering Market is segmented by Material type into Synthetic material and biologically derived materials. Due to malfunctioning, tissue injury, or illness, and aging, the biologically derived materials segment held the biggest share of the market in 2019. These factors are also likely to drive demand for biologically derived materials throughout the forecast period.
Cardiology and Vascular segment to grow with the highest CAGR during 2020-30
Global Tissue Engineering is segmented by Application into Orthopedics and Musculoskeletal, Neurology, Cardiology and Vascular, Skin and Others. Because of the significant rise in the incidence of cardiovascular diseases throughout the world, the cardiology and vascular segment is expected to have the greatest growth rate in the tissue engineering market over the research period. Furthermore, key players are working on stem cell treatments to repair, restore, and re-vascularize injured cardiac tissues. In addition, gene therapy, sophisticated biologics, and small chemicals are being researched to help injured cardiac cells regenerate.
Growing demand for inexpensive skin-replacement products
The rising demand for relatively inexpensive and readily available skin-replacement goods has prompted numerous research organizations across the world to work on developing biomaterials for skin replacement. The modified tissues not only seal wounds but also induce dermis regeneration, which would be a huge help in human wound healing.
Growing incidences of chronic diseases, road accidents, and trauma injuries
The tissue engineering market is expected to develop rapidly owing to rising rates of chronic illnesses, traffic accidents, and trauma injuries, as well as technical breakthroughs in 3D tissue engineering and ongoing tissue regeneration research. Chronic illnesses, traffic accidents, and trauma injuries are all on the rise, which is fueling the development of tissue engineering treatments. The number of people in need of bone implants is increasing, owing to an increase in chronic illness cases, trauma cases, and longer average life duration.
Lack in awareness
Over the predicted period, government regulations, expensive treatment costs with tissue engineering, and a dearth of tissue engineering knowledge among patients and healthcare professionals are expected to stymie market expansion.
Stryker Corporation
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Tissue Engineering market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. Global Tissue Engineering in North America held the largest market share in the year 2019 Owing to increased knowledge of stem cell treatment and an increasingly elderly population. Furthermore, increased technology for the detection and treatment of chronic diseases, the availability of private and government financing, and high healthcare spending all contribute to tissue engineering gaining a strong share of the regional market.
Global Tissue Engineering Market is further segmented by region into:
Tissue Engineering Market Segments:
| Report Attribute | Details |
| Market size value in 2021 | USD 12.68 billion |
| Revenue forecast in 2030 | USD 41.47 billion |
| Growth Rate | CAGR of 14.06% from 2021 to 2030 |
| Base year for estimation | 2020 |
| Quantitative units | Revenue in USD billion and CAGR from 2021 to 2030 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Material Type, Application, and Region |
| Regional scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa (MEA) |
| Key companies profiled | Stryker Corporation, Organogenesis Inc., Cook Biotech Inc., Integra Life Sciences Corporation, Acelity L.P.Inc, Allergan Plc., Medtronic, Zimmer Biomet, Baxter International Inc, DePuy Synthes, and Other Prominent Players. |
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