Tissue Engineering Market Trends, Growth & Forecast 2024-2033

The Business Research Company recently released a comprehensive report on the Global Tissue Engineering Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The tissue engineering market size has grown rapidly in recent years. It will grow from $13.36 billion in 2023 to $15.38 billion in 2024 at a compound annual growth rate (CAGR) of 15.1%. The growth in the historic period can be attributed to advancements in biomaterials, growing aging population, increasing incidence of chronic diseases, regulatory support for regenerative medicine, rising patient demand for organ transplants.

The tissue engineering market size is expected to see rapid growth in the next few years. It will grow to $26.33 billion in 2028 at a compound annual growth rate (CAGR) of 14.4%. The growth in the forecast period can be attributed to precision medicine approaches, increasing focus on immunomodulation, expanding applications in orthopedics, increased funding and investment, rising prevalence of chronic diseases. Major trends in the forecast period include integration of nanotechnology, 3d cell culture techniques, development of organ-on-a-chip technology, artificial intelligence integration,innovative cell sources.

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Market Drivers and Trends:

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.

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Major Key Players of the Market:

Medtronic plc; Zimmer Biomet; Allergan plc; Organogenesis Holdings Inc.; Integra LifeSciences; Stryker Corporation; DePuy Synthes Companies; Acelity L.P. Inc.; B. Braun Melsungen AG; RTI Surgical Inc.; AbbVie Inc.; Becton Dickinson and Company; Baxter International Inc.; Osiris Therapeutics Inc.; Organovo Inc.; BioTime Inc.; Bio Tissue Technologies; Vericel Corporation; Smith and Nephew; Acell Inc.; Athersys Inc.; Tissue Regenix Group plc; Xeltis AG; Prellis Biologics; Butterfly Network Inc.; iThera Medical GmbH; Bit Bio; Be Biopharma Inc.; The Takeda Pharmaceutical Company; Frequency Therapeutics; TELA Bio Inc.; Orthocell Limited

Tissue Engineering Market 2024 Key Insights:

• The tissue engineering market will grow to $26.33 billion in 2028 at a compound annual growth rate (CAGR) of 14.4%.
• Rising Prevalence Of Chronic Diseases And Trauma Emergencies Fueling Tissue Engineering Market Growth
• Technological Advancements Propelling Tissue Engineering Market Growth
• North America was the largest region in the tissue engineering market in 2023

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