Tissue Engineering Market Size is Expected to Reach USD 12.43 Billion by 2032, Growing at a CAGR of 14.40%: Straits Research

Tissue Engineering Market Size, Share & Trends Analysis Report By Product Type (Synthetic Scaffold Material, Biologically Derived Scaffold Material, Others), By Applications (Orthopedics and Musculoskeletal, Neurology, Cardiovascular, Skin and Integumentary, Dental, Others), By End User (Hospitals, Specialty Clinics, Academic & Research Institutes, Others) and By Region (North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

/EIN News/ -- New York, United States, July 18, 2024 (GLOBE NEWSWIRE) -- As per the Latest Report by Straits Research, the global tissue engineering market size was valued at USD 4,333.61 million in 2023. It is projected to reach USD 12,425.62 million by 2032, growing at a CAGR of 14.40% during the forecast period (2024-2032).

Tissue engineering is a field that combines engineering and life science concepts to develop biological replacements that maintain, improve, or restore tissue function. For this method, scaffolds are also attached to cells and biomolecules. The scaffold is a synthetic or natural structure meant to simulate organs. Increased awareness of tissue engineering, the prevalence of chronic diseases and trauma crises, and potential pipeline products all led to significant growth in the tissue engineering market throughout the projected period.

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Rising Need for Tissue Engineering in Future Organ Transplants Drives the Global Market

Tissue engineering and regenerative medicine can help meet the increasing demand for organ transplants worldwide. Currently, work is being done to create tissue signaling and vascularization, which would mimic the functions of the original organs. There is a more significant probability of successfully producing intricate tissues and complete organs to meet the demand for organ transplants. For instance, human liver prototypes have been created using tissue engineering regeneration and bioprinting methods. There is a significant possibility for the commercialization of tissue-engineered goods because so many products are in the pipeline through various clinical trials and are expected to be marketed in the future.

Rising Incidence of Chronic Conditions and Trauma Emergencies Creates Tremendous Opportunities

As the prevalence of trauma injuries has increased, so has the utilization of tissue-engineered products. An increase in accidents, burn injuries, and other trauma injuries is another factor driving the market's expansion. One hundred twenty thousand eight hundred fifty-nine deaths in all were linked to unintentional injuries in the United States in 2016, of which 26,009 were accidental deaths, and 33,687 were fatal motor vehicle accidents, according to the Centers for Disease Control and Prevention.

Additionally, the prevalence of trauma cases resulting from accidents is increasing, speeding up demand for tissue-engineered products worldwide. Numerous companies have increased their market shares for goods designed to treat tissue-engineered trauma injuries. During the projected period, the market for tissue-engineered products is likely to increase as accidental care unit technology is anticipated to progress.

Regional Analysis 

North America is the most significant revenue contributor and is anticipated to exhibit a CAGR of 13.35% throughout the projection period. North America firmly holds on to tissue engineering technology due to the widespread availability and accessibility of items manufactured utilizing tissue engineering and the significant presence of essential firms and research organizations. The United States and other countries in North America, namely, are home to the bulk of tissue-engineered product manufacturers. The biggest tissue engineering businesses in the world, including AbbVie Inc., Becton, Dickinson and Company, Organogenesis Holdings, and Zimmer Biomet, have regional offices here.

Europe is anticipated to grow at a CAGR of 14.90% during the forecast period. The five major European countries considered in the report are Germany, France, the United Kingdom, Italy, Spain, and the rest of Europe. This region held the second-largest market share for tissue engineering in 2019. The tissue engineering market in European nations is predicted to grow steadily throughout the expected period due to the availability of tissue-engineered products in the region, the high demand for tissue-engineered products, and the significant presence of R&D laboratories and critical enterprises. Due to the prominence of manufacturers like B Braun and Tissue Regenix in the region, the tissue engineering market is anticipated to grow.

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Key Highlights

• The global tissue engineering market size is projected to reach USD 12,425.62 million by 2032, growing at a CAGR of 14.40% during the forecast period (2024-2032).
• Based on product, the global tissue engineering market is bifurcated into synthetic scaffold material, biologically derived scaffold material, and others. The biologically derived scaffold material segment is the highest contributor to the market and is estimated to exhibit a CAGR of 13.20% during the forecast period.
• Based on application, the global tissue-engineering market is bifurcated into orthopedics and musculoskeletal, neurology, cardiovascular, skin and integumentary, dental, and others. The orthopedics and musculoskeletal segment is the highest contributor to the market and is estimated to exhibit a CAGR of 13.20% during the forecast period.
• North America is the major revenue contributor and is expected to grow at a CAGR of 13.35% during the forecast period.

Competitive Players

1. Organogenesis Inc.
2. Acelity L.P. Inc.
3. Integra LifeSciences Corporation
4. Zimmer Biomet Holdings, Inc.
5. Medtronic plc
6. Stryker Corporation
7. MiMedx Group, Inc.
8. Osiris Therapeutics, Inc.
9. Tissue Regenix Group plc
10. CollPlant Biotechnologies Ltd.
11. Cytori Therapeutics, Inc.
12. CellGenix GmbH
13. Vericel Corporation
14. ReproCELL Inc.
15. Tissue Genesis, LLC

Recent Developments

• May 2022- Quali-Pure HGP 2000, a novel endotoxin-controlled pharmaceutical-grade gelatin especially created for vaccinations and wound healing applications, was introduced by Rousselot, the health brand of Darling Ingredients.
• February 2022- Opus BA, a synthetic bioactive bone graft product from Orthofix Medical, was approved for use in cervical and lumbar spine fusion surgeries.

Market Segmentation

1. By Product Type
   1. Synthetic Scaffold Material
   2. Biologically Derived Scaffold Material
   3. Others
2. By Applications
   1. Orthopedics and Musculoskeletal
   2. Neurology
   3. Cardiovascular
   4. Skin and Integumentary
   5. Dental
   6. Others
3. By End User
   1. Hospitals
   2. Specialty Clinics
   3. Academic & Research Institutes
   4. Others
4. By Region
   1. North America
   2. Europe
   3. Asia Pacific
   4. Latin America
   5. Middle East And Africa

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