Tissue engineering is a highly promising field where the use of several advanced engineering methods for biochemical factors among others to improve or replays biological tissue. Tissue engineering has a number of applications across various biological parts including skin, muscle, and bone to name a few. The global tissue engineering market is expected to witness favorable growth at a favorable CAGR of more than 17% during the forecast period from 2017 to 2022. Market Research Future’s study of the Global Tissue Engineering Market has revealed several important findings including an appreciation of the market to reach an estimated value of USD 48,017.5 Mn by the end of 2022.
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Tissue engineering has come a long way due to advances in the development of biomaterials, understanding stem cells, and various other factors. Tissue engineering and regenerative medicine are increasingly being acknowledged as a reliable supply of functional tissue for medical purposes. Moreover, with the vast potential to create artificial tissue which is close to human tissue, will likely result in the phasing out of the animal testing model. Increasing animal sensitivity and high demand across the globe for more ethical means of testing is expected to boost the demand for tissue engineering. Although the technology used in tissue engineering was highly unaffordable when the field was first developed, advancements in technology and increasing use has made it more cost-effective, thus driving market growth.
Scaling of specific cells is a challenge that tissue engineering has not overcome as of yet, and as such is expected to hamper market growth. However, tissue engineering is increasingly witnessing a high demand from cosmetic and reconstructive surgery in healthcare. For instance, the technology has great use in reconstruction and in growing skin tissue for burn victims. The growth of the global geriatric population and age-related degenerative diseases are prompting increased demand for tissue engineering and represent high demand over the forecast period.
Acelity, DePuy Synthes Companies, Zimmer Inc., Stryker, Baxter, Medtronic, and Cook
The Global Tissue Engineering Market in MRFR’s report has been segmented on the basis of materials, and applications. Materials used in tissue engineering include nano-fibrous materials, composite materials, biomimetic materials, and nanocomposite materials. The nano-fibrous segment has grown to establish itself as the largest segment with a CAGR of 17.22 and an expected market value of USD 48,017.5 Mn by the end of 2022.
Applications of tissue engineering can be found in musculoskeletal & spine, skin/integumentary, cancer, orthopedics, neurology, cardiology, dental, urology, cord blood & cell banking, GI & gynecology, and others.
The Americas, due to their inclusion of North America which is a well-developed region in terms of healthcare infrastructure and healthcare investments. Moreover, many prominent market players are present in the region, particularly in the U.S which is the leading country-level market. The Americas will grow to reach a market value of USD 17,889.6 Mn by 2022.
The Asia Pacific is witnessing a growing establishment of research and development institutes. The region has a rapidly changing healthcare sector with increasing investments being made in advanced technologies. Increased awareness regarding healthcare has also resulted in high demand for better diagnostic methods as well as advanced treatment options. The APAC has the highest CAGR among all regions and will grow at 15.24% during the assessment period.
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Latest Industry News:
The International Space Station and National Science Foundation have announced a joint collaboration for the research of tissue engineering.
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