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Tissue Engineering Global Market Report 2023
Major players in the tissue engineering market are Medtronic plc, Zimmer Biomet, Allergan plc, Organogenesis Holdings Inc., Integra LifeSciences, Stryker Corporation, DePuy Synthes, Acelity L.P. Inc., B.
New York, May 30, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Tissue Engineering Global Market Report 2023" - https://www.reportlinker.com/p06457652/?utm_source=GNW
Braun, RTI Surgical Inc., AbbVie Inc., BD, Baxter International Inc., Osiris Therapeutics Inc., Organovo Inc., BioTime Inc., BioTissue Inc. and Vericel Corporation.
The global tissue engineering market is expected to grow from $11.6 billion in 2022 to $13.32 billion in 2023 at a compound annual growth rate (CAGR) of 14.9%.The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many every markets across the globe. The tissue engineering market is expected to reach $22.39 billion in 2027 at a CAGR of 13.9%.
The tissue engineering market consists of sales of reparative cells, bioreactive molecules, such as cytokines, growth factors, biomaterials, and bioreactors.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Tissue engineering refers to the biomedical engineering discipline that involves integrated techniques from biology and engineering to produce 3-D tissue and cellular products in-vivo as well as in in-vitro conditions by altering cell growth conditions and using suitable cell isolates from donor tissue and biocompatible scaffold materials. It uses various techniques to restore, repair, maintain, and improve the function of tissue by replacing or restoring damaged tissue to provide improvement in human body functions.
The main types of tissue engineering include synthetic scaffold material, biologically derived scaffold material, and others.Synthetic scaffold material refers to a synthetic polymer made up of fibrous proteins that act as an extracellular matrix than enhances the cellular response and cell behavior in tissue engineering.
They are used for various applications in orthopedics and musculoskeletal, neurology, cardiovascular, skin and integumentary, dental, and others by several end-users such as hospitals and clinics, and ambulatory facilities.
North America was the largest region in the tissue engineering market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The increase in the prevalence of chronic diseases and trauma emergencies is expected to propel the growth of the tissue engineering market going forward.Chronic diseases refer to clinical conditions that last for 3 months or longer periods and usually can be controlled but not cured, whereas trauma emergencies refer to any physical injury that requires immediate medical attention due to its sudden onset and severity such as traumatic brain injuries.
Tissue engineering is widely adopted by healthcare professionals for its various advantage in treating chronic disorders and trauma to avoid end-stage treatment failure including autologous or allograft transplantation, xenotransplantation, and artificial substitutes. For instance, in March 2021, according to the Mary Ann Liebert, Inc. article, a US-based privately held independent publishing company, approximately 2% of the total population in the United States are affected by chronic wounds. Further, in 2020, according to the Centers for Disease Control and Prevention (CDC), a US-based federal agency that operates in the prevention and control of disease and injury, around 64,000 occurred in the United States due to traumatic brain injuries and approximately176 deaths every day by TBI. Therefore, the increase in the prevalence of chronic diseases and trauma emergencies is driving the growth of the tissue engineering market.
Technological advancement is the key trend that is gaining popularity in the tissue engineering market.Major companies operating in the market are focused on research and development for product innovations that could give better solutions and strengthen their position in the market.
For instance, in March 2021, CELLINK, a US-based company operating in tissue engineering introduced its advanced bioprinter that works on 3D bioprinting technology known as BIO MDX Series. 3D bioprinting technology refers to technology that uses bio-inks and living cells to construct natural 3D tissue structures. BIO MDX Series consists of printheads, nanoliter, and picoliter dispensing channels along with robotic integration that provides precision bioprinting for high-throughput fabrication that can be used in advanced cell-based technologies.
In November 2020, Stryker Corporation, a US-based multinational company operating in tissue engineering and medical technologies acquired Wright Medical Group N.V. for an undisclosed amount. Through this acquisition, Stryker Corporation aims to strengthen its product portfolio in the trauma and extremities segment by providing advanced innovation and reaching more patients. Wright Medical Group N.V is a US-based company operating in tissue engineering.
The countries covered in the Tissue Engineering market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The tissue engineering market research report is one of a series of new reports that provides tissue engineering market statistics, including the tissue engineering industry global market size, regional shares, competitors with a tissue engineering market share, detailed tissue engineering market segments, market trends and opportunities, and any further data you may need to thrive in the tissue engineering industry. This tissue engineering market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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