Worldwide Tissue Engineering Market is generating a growth of CAGR of 17.22 % and expected to reach USD 48,017.5 million by the forecast period of 2017-2022 | Key Players- Cook, Acelity, Baxter, DePuy Synthes Companies

Tissue engineering involves the principles of engineering and life sciences. The field is involved in the development of biological substitutes to replace or restore tissue or organ function. The global tissue engineering market is generating a growth of CAGR of 17.22 % and expected to reach USD 48,017.5 million by the forecast period of 2017-2022.

Advancement in biomaterials is the critical driver of the market as demonstrated by the development of biomimetic and biocompatible materials which mimic the characteristics of the extracellular matrix resulting in better treatment. Synthetic, biomimetic materials achieve in-situ crosslinking and protease-dependent action. Enzymes such as proteases and growth factors are being incorporated in synthetic biomimetic materials so as to closely mimic the natural tissues. Biomimetic materials provide three-dimensional structures and synthetic extracellular-matrix environments resulting in better and stronger tissue regeneration.

Key Players in the Global Tissue Engineering Market:

DePuy Synthes, Cook, Medtronic, Zimmer Inc., Acelity, Baxter, and Stryker

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The disadvantages and risks of autologous bone grafts such as limited availability of autologous material and donor-site morbidity, infection, immunological rejection etc. are clinical drivers of the market.

Other drivers of the market are increase in geriatric population, scarcity of organs donations, growing demand for regenerative medicine, and rise in risk factors resulting in enhanced demands such as accidents, burns and others. The progress in industrial process which has resulted in growing capacity of cell regeneration is expected to bring down costs. The need for replacing animal models for testing of pharmaceuticals is other driver of the market.

Restraints

High cost of treatment and threats of serious biological reactions such as graft rejection, hyper reactions, risks of surgery, poor biocompatibility of synthetic substitute’s materials and impurities from animal sources and xenobiotic materials are the constraints of the market.

The lack of awareness in underdeveloped economies, scarcity of trained manpower coupled with their poor income is economic and structural constraints on the market.

Segments of the Global Tissue Engineering Market:

Materials - biomimetic materials, nano-fibrous materials, composite materials, and nano-composite material. The tissue engineering market by materials is dominated by the nano-fibrous material which is anticipated to generate USD 13,279.2 million by 2022 from USD 4,155.8 million in 2016.

Applications - skin/integumentary, neurology, orthopedics, cord blood & cell banking, cancer, musculoskeletal and spine, cardiology, dental, urology, GI & gynecology and others. The orthopaedic segment is expected to possess the largest market share by applications.

Regional Analysis of the Global Tissue Engineering Market:

The Americas region dominated the scene with a market share of USD 7,100.1 million in 2016. The drivers of the American market are the well-developed healthcare infrastructure, high healthcare expenditure, and the presence of the leading players especially in the U.S. and Canada.

Europe accounts for the second largest market, led by Germany, UK, and France. Germany is expected to be the largest market owing to its well-developed medical devices and tissue engineering sector. Germany is closely followed by France and the U.K.

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Asia Pacific is expected to be the fastest market due to rising number of research & development institutes, increasing demand, lower labor cost and others. Asia Pacific tissue engineering market is expected to grow at a CAGR of 15.24% during the forecast period.

The Middle East & Africa is expected to demonstrate moderate growth in the tissue engineering market due to poor socio economic conditions poor healthcare infrastructure, and low technology penetration. However high growth spurts can be expected in the gulf economies such as UAE, Saudi Arabia and others.

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