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Tissue Engineering Market Size Estimated to be Worth USD 37.85 Billion By 2032, at 9.6% CAGR: Polaris Market Research Report
NEW YORK, Dec. 5, 2023 /PRNewswire/ -- A latest research report [110+] pages with 360-Degree visibility, titled "Tissue Engineering Market Share, Size, Trends, Industry Analysis Report, By Material Type (Synthetic Material, Biologically Derived Material, Others); By Application; By End-Use; By Region; Segment Forecast, 2023 - 2032" published by Polaris Market Research in its research repository.
According to [115+ Pages] research report, the global tissue engineering market size is predicted to grow from USD 15.16 billion in 2022 to USD 37.85 billion in 2032. It is anticipated to grow at a Compound Annual Growth Rate (CAGR) of 9.6% from 2023 to 2032, according to the latest report by Polaris Market Research.
What is Meant by Tissue Engineering? How Big is Tissue Engineering Market Size?
- A Quick Review
Tissue engineering is an emerging discipline of bioengineering, which combines the principles of engineering and biology. Also sometimes described as taking an engineering approach to biological study, tissue engineering encompasses the investigation of physical, biological, and chemical forces associated with tissue development, injury, and wound healing. Tissue engineering aims at restoring, maintaining, improving or replacing different types of biological tissues.
The three main components of a tissue engineering process are stem cells, a biocompatible scaffold, and bioactive molecules. Tissue engineering processes are used to grow tissue models in artificial labs. These tissue models have several uses in research, including testing therapies and studying disease at a tissue level. The various advantages tissue engineering offers over traditional treatments are one of the primary factors driving the tissue engineering market growth.
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Which are the Top Tissue Engineering Companies?
- AbbVie Inc.
- ACell, Inc.
- Allergan Plc.
- Athersys, Inc.
- B. Braun Melsungen AG
- Baxter International Inc.
- BioMimetic Therapeutics
- Bio Tissue Technologies
- C. R. Bard (now part of Becton, Dickinson and Company)
- Integra LifeSciences Corporation
- Medtronic plc
- Organogenesis Holdings Inc.
- ReproCell Inc.
- RTI Surgical Inc.
- Smith & Nephew Plc.
- Stryker Corporation
- Tissue Regenix Group plc
- TissueTech Inc.
- Vericel Corporation
- Zimmer Biomet Holdings Inc.
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Important Highlights of the Report
- The market is a rapidly growing field within the healthcare sector that focuses on the development of functional replacement organs and tissues.
- Growing awareness regarding adverse effects on the environment is anticipated to spur product demand.
- The tissue engineering market segmentation is primarily based on material type, application, end-use, and region.
- North America dominated the market for tissue engineering in 2022.
Tissue Engineering Market Details
Market value in 2023
USD 16.59 billion
Market value in 2032
USD 37.85 billion
9.6% from 2023 – 2032
2019 – 2021
2023 – 2032
Market's Prime Determinants of Growth, Trends, and Opportunities
Introduction of novel technologies: Advances in technology are transforming the fields of tissue engineering and regenerative medicine by permitting the creation of novel tools and platforms. For example, 3D printing, which allows for the precise fabrication of sophisticated tissue structures, has come up as a transformative technology. In addition, the integration of biomaterials and bioengineering has opened new avenues for the creation of functional organs and tissues, impacting the tissue engineering market size positively.
Increase in clinical studies: In recent times, there has been a steep rise in clinical studies focused on tissue engineering and regenerative medicine. This is primarily because of rising awareness of the capability of these treatments to address unmet clinical requirements. Clinical studies offer important evidence about the efficacy and safety of tissue engineering interventions. This, in turn, paves the path for the widespread adoption of clinical studies and impacts the market favorably.
Trends and Opportunities
Increased government funding: Increased financial support from governments for academic and medical research initiatives is a major factor in supporting the growth of tissue engineering. Increased funding facilitates R&D initiatives, resulting in the development of novel therapies and techniques. This is projected to boost the tissue engineering market demand over the forecast period.
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- Synthetic Material Segment is Anticipated to Witness the Fastest Growth
The synthetic material segment, which encompasses ceramics, composites, and polymers, is an important component of the industry. This is because synthetic materials have various advantages, including customizable properties, degradation rates, and biocompatibility. These properties make them suitable for a wide range of applications in the tissue engineering market. Besides, these artificially created materials, like ceramic implants and polymeric scaffolds, offer templates for tissue regeneration and cell growth. Advances in material science have resulted in the development of new synthetic materials that improve the adhesion, proliferation, and differentiation of cells, thereby advancing tissue engineering and regenerative medicine.
- Orthopedics, Musculoskeletal, and Spine Segment is Projected to Hold Significant Revenue Share
By application, the orthopedics, musculoskeletal, and spine segment is projected to account for significant tissue engineering market share. The segment, which focuses on regenerative solutions for muscle, joint, bone, and spinal disorders, is a major area of tissue engineering. It aims at offering innovative solutions that can repair or restore the normal functioning of tissues. With the development of scaffolds, biomaterials, and cell-based approaches, the orthopedics, musculoskeletal and spine segment provides alternatives to traditional treatment options.
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- Which Region Leads the Market for Tissue Engineering?
North America: North America accounted for the largest revenue share of the market. The region's dominant position can be attributed to several factors, including the growing geriatric population and the introduction of advanced diagnostic and treatment technologies for chronic conditions. Other factors that contribute to the region's growth are high healthcare expenditure and the availability of funds from government and private entities.
Asia Pacific: The tissue engineering market in Asia Pacific region is projected to experience the highest growth rate. APAC's growth is being driven by growing awareness about advanced treatment options and rising investments in healthcare infrastructure. Besides, the presence of a large patient pool is having a favorable impact on the growth of the region.
Browse the Detail Report "Tissue Engineering Market Share, Size, Trends, Industry Analysis Report, By Material Type (Synthetic Material, Biologically Derived Material, Others); By Application; By End-Use; By Region; Segment Forecast, 2023 - 2032" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/tissue-engineering-market
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Key Questions Answered in the Report
- What is the current and expected value of the market?
- Which factors are propelling the tissue engineering market sales?
- At what CAGR is the market expected to grow during the forecast period?
- What are the key trends and opportunities in the industry?
- Which segment accounts for the largest share of the tissue engineering market?
- Who are the key players in the industry?
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About Polaris Market Research:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.
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