Tissue Engineered Collagen Biomaterials Market Estimated to Flourish by 2025
Key strategies adopted by such players to progress in the global tissue engineered collagen biomaterials market are mergers and acquisitions and carefully-considered distribution agreements. Medtronic, for example, acquired Covidien, a global healthcare products company, in January 2016 to become the foremost player in the medical device industry.
As per a report by Transparency Market Research, the global tissue engineered collagen biomaterial market will likely progress at a robust CAGR of 10.4% during the period between 2017 and 2025 to become worth US$5.4 bn in 2025 from US$ 2.2 bn in 2016.
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Solid Manufacturing Infrastructure Fillips North America Market Significantly
Based on application, the global tissue engineered collagen biomaterial market can be divided into orthopedics, wound care, etc. Among them, the orthopedics segment is estimated to account for maximum market share due to the numerous applications in bone, tendon, and ligament injuries of collagen. As per a release by the National Osteoporosis Foundation in 2014, about 54 million people over 50 years of age in the U.S. are affected by low bone mass and osteoporosis. This has helped catalyze growth in the market.
Geographically, the key segments of the global market for tissue engineered collagen biomaterial are North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. At present, North America leads the market and is expected to continue doing so in the near future too. This is because of the presence of a solid manufacturing infrastructure and increasing collagen applications across various industries. Further, growing thrust on research to develop unique solutions for tissue engineering will lead to emergence of many collagen-based products, namely bone graft substitutes and wound repair products. This will likely boost the market even more. The TMR report predicts the North America market to become worth US$17 bn by 2025.
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Rigorous Research in Regenerative Medicine Bodes Well for Market
Tissue engineering entails developing tissue and organs. Collagen is a class of protein and collagen-based biomaterial applications is seeing widespread application in the tissue engineering sector. “Rigorous research and development activities in regenerative medicine and rising use of collagen as bone substitutes are the major growth drivers in the tissue engineered collagen biomaterial market. Moreover, the use of collagen in wound healing offers numerous benefits in terms of stimulating tissue growth and ensuring relief for a variety of injuries on bones and tissues, which, in turn, is fuelling the market,” explains the lead analyst of the report.
On the flipside, however, non-rigidity and potential for antigenicity through telopeptides and collagen materials have the potential to cause cell behavior alteration. This is serving to act as a deterrent to the global tissue engineered collagen biomaterial market. In addition, the transmission of lethal diseases such as mad-cow disease and bird flu and growing number of government regulations for quality assurance of animal derived products are also posing a roadblock to the market.
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