Tissue Engineering Market Size to Grow US$ 29,659.93 Mn by 2028 at 12.2% CAGR: The Insight Partners

The tissue engineering market is expected to reach US$ 13,236.87 million in 2022 and is projected to touch US$ 29,659.93 million by 2028. It is expected to grow at a CAGR of 12.2% from 2022 to 2028. The companies engaged in the global Tissue Engineering market witnessed an adverse impact on their services in early 2020 due to the temporary shutdown of various research organizations.

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Moreover, according to a survey by Medscape in July 2020, substantial disruption has been witnessed in routine research activities that include tissue engineering and regenerative medicines due to the COVID-19 pandemic. During the initial months of the COVID-19 pandemic, the market was hindered significantly.

An increase in chronic disease incidences, road accidents, trauma injuries, and technological advancements in the field of 3D tissue engineering is driving the growth of the global tissue engineering market. However, the high cost of treatments related to tissue engineering is hindering the market's growth.

Tissue engineering has several primary functions in medicine and research: Assisting in tissue or organ repair, including bone repair (calcified tissue), cartilage tissue, heart tissue, pancreatic tissue, and vascular tissue. The field also researches the behavior of stem cells. Stem cells can develop into many different cell types and help repair areas of the body. The 3D nature of tissue engineering allows the study of tumor architecture in a more detailed environment. It also provides an environment to test potential new drugs for these diseases. Growth in the number of R&D activities with increasing awareness of tissue engineering in emerging markets is expected to support the market growth. Developed nations have adopted technological advances in tissue engineering and regenerative medicine that contribute to expanding the global tissue engineering market

Supply chain and manufacturing activities have been disrupted globally due to lockdowns implemented by governments, restricted movement, and other COVID-19 safety precautions. Furthermore, the COVID-19 pandemic was also hindering the conduct of clinical trials, drug development, and the operations of the diagnostic industry worldwide. For instance, Stryker Corporation, a well-known player in the tissue engineering industry, diverted its operations to manufacture COVID-19 diagnostics and PPE kits.

A spinal cord injury (SCI) refers to damage to the spinal cord that temporarily or permanently changes its function. According to the Multidisciplinary Digital Publishing Institute (MDPI), an estimated 3 million people live with traumatic SCI worldwide, with approximately 180,000 new cases reported each year. SCI often results in devastating, long-lasting neurological deficits, manifesting as dysfunction of the motor, sensory, or autonomic nervous systems below the level of injury. To thoroughly repair or regenerate damaged tissues or organs and restore their functions has been a dream of humans. The advent of Tissue Engineering and Regenerative Medicine (TERM) seems to make this possible. Tissue engineering combines cells, scaffolds, and growth factors to regenerate tissue or replace damaged or diseased tissue.

The material type segment in the global tissue engineering market is segmented into synthetic material, biologically derived materials, and others. The biologically derived materials segment will hold the largest share of the market in 2022. In contrast, the synthetic material segment is projected to report the highest CAGR of 12.9% in the market during the forecast period.

Natural materials chosen for tissue engineering scaffolds are either compounds of the native extracellular matrix or polymers extracted from other biological systems. Evidence indicates that natural materials can behave similar to the extracellular matrix and possess biocompatibility, biodegradability, and inherent biological functions that could make them suitable for a range of tissue engineering applications. Biologically derived materials are used in creating neo-tissues in vitro that are identical to their fundamental body parts. These materials also help in tissue regeneration by a controlled presentation and on-demand release of specific chemokines at injury sites, tissue-resembling structural, temporary biodegradable support matrices with natural and functional characteristics.

Furthermore, the synthetic materials segment shows the highest CAGR growth due to the biomaterials used to fabricate medicinal products and tissue-engineering scaffolds. Synthetic biomaterials have become essential elements for regenerative medicine and tissue engineering strategies. The growing industrial revolution enables the development of a series of synthetic biomaterials, such as metallics and polymerics, which are well suitable for developmental initiatives. These synthetic materials are biodegradable or non-biodegradable and help restore the structure and function of damaged tissues.

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