Revenue growth of the global tissue engineering market is majorly supported by factors such as rising prevalence of chronic diseases including diabetes and obesity, increasing incidences lifestyle diseases, rapidly growing geriatric population, and increasing cases of trauma emergencies.
Emergen Research has published its latest report titled “Tissue Engineering Market, By Type (Synthetic Scaffold Material, Biologically Derived Scaffold Material, Others), By Application (Cord blood & Cell Banking, Cancer, Neurology, Cardiology & Vascular, Urology, Gynecology, Musculoskeletal, & Spine, Skin & Integumentary, Dental, Others), and By Region Forecast to 2028”
Market Dynamics:
Revenue growth of the global tissue engineering market is majorly supported by factors such as rising prevalence of chronic diseases including diabetes and obesity, increasing incidences lifestyle diseases, rapidly growing geriatric population, and increasing cases of trauma emergencies. Rising occurrences of irreversible tissue damage, growing adoption of regenerative medicine, increasing volumes of reconstructive surgeries, and rapid adoption of advanced 3D in-vitro implants are among the other key factors expected to drive the global tissue engineering market revenue growth over the forecast period.
Tissue engineering plays a vital role in tissue or cell regeneration and repair of damaged tissue. It is widely used in cell reconstruction surgeries, tissue transplants, and highly invasive tissue repair procedures. Tissue engineering is approved by the U.S. FDA and is gaining huge significance in the field of regenerative medicine. Increasing volumes of tissue engineering procedures, increased government investments in R&D programs, and rapidly advancing healthcare infrastructure are expected to further drive the global market growth.
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COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Biologically Derived Scaffold Material Segment Accounted for Largest Revenue Share in 2020:
Based on material type, the global tissue engineering market is segmented into synthetic scaffold material, biologically derived scaffold material, and others. The biologically derived scaffold material segment dominated other segments in terms of largest revenue share in the global market in 2020. Growing use of biologically derived materials due to advantages such as biocompatibility, biodegradability, non-toxicity, robust cell recognition properties, and improved functionalization is one of the key factors driving this segment’s revenue growth.
Musculoskeletal & Spine Segment to Account for Fastest Revenue CAGR:
Based on application, the musculoskeletal & spine segment is expected to register the fastest revenue growth rate in the global tissue engineering market over the forecast period. Rising prevalence of musculoskeletal disorders, increasing applications of tissue engineering in treatment of musculoskeletal & spine disorders, and growing use of bone and cartilage repair tissue engineered products are major factors expected to drive revenue growth of this segment.
North America Accounted for Largest Revenue Share in 2020:
Among regional markets, the North America tissue engineering market was the most dominant in terms of largest revenue share in the global market in 2020. Growing prevalence of chronic and lifestyle diseases, increasing volumes of tissue engineering procedures, increasing R&D activities in the field of regenerative medicine, and presence of state-of-the-art healthcare infrastructure and key market players in the region, including Allergan plc, Athersys, Inc., and ACell, Inc., are major factors boosting revenue growth of the North America market.
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Major Companies in the Global Tissue Engineering Market Include:
- Medtronic Plc
- Zimmer Biomet Holdings, Inc
- Allergan plc
- Athersys, Inc.
- ACell, Inc.
- Organogenesis Holdings Inc.
- Tissue Regenix Group plc
- Stryker Corporation
- RTI Surgical, Inc.
- Integra LifeSciences Corporation
- ReproCell, Inc.
- Baxter International, Inc.
For the purpose of this report, Emergen Research has segmented the global tissue engineering market based on type, application, and region:
Material Type Outlook (Revenue, USD Billion; 2018-2028)
- Synthetic Scaffold Material
- Biologically Derived Scaffold Material
- Others
Application Outlook (Revenue, USD Billion; 2018-2028)
- Cord blood & Cell Banking
- Cancer
- Neurology
- Cardiology & Vascular
- Urology
- Gynecology
- Musculoskeletal, & Spine
- Skin & Integumentary
- Dental
- Others
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Region Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of Middle East & Africa
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