The global tissue engineering market size is expected to reach USD 28.9 billion by 2027, expanding at a CAGR of 14.2%, according to a new report by Grand View Research, Inc. Allogenic tissue transplant method efficiently addresses challenges and limitations regarding the implementation and availability of autologous transplants. Moreover, the development of specialized procedures including implant fixing and sterilization to transform allogeneic implants so for application as biostatic implants is expected to drive revenue generation in this market.
Rapid
advancements and a strong pipeline of regenerative medicine are
anticipated to provide effective solutions for chronic conditions. Several
companies in growing markets are striving to capitalize on the untapped market
potential with a strong focus on R&D. For instance, RepliCel is investing
in multiple regenerative medicine products. As of 2019, its three products
(RCH-01, RCS-01, RCT-01) were in the development phase and its dermal injector
device (RCI-02) is under pre-commercialization production and testing phase.
The
application of nanotechnology has played a critical role in the process of
tissue engineering. Treating neurological diseases is a significant challenge
as early diagnosis and treatment initiation is crucial. However, the advent of
new 3D designed nanofibers has proved to be a ready alternative to aid the
regeneration of damaged neurons. Such advances have propelled the growth of
tissue engineering products.
Full Research Report On Tissue Engineering Market Visit Here:
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Further key
findings from the report suggest:
- Cardiology and vascular
application is one of the fastest-growing segments owing to an increasing
incidence rate of heart failures worldwide
- Since the past 20 years,
cardiac cell therapy or cardiomyoplasty has been an important focal point
of the majority of the studies aimed at heart disease management through
regeneration
- A rise in the number of
children with congenital malformations such as single ventricle anomalies
has led to the growing demand for heart transplantation
- Tissue-engineered organs
help address challenges related to the lack of suitable donor organ and
potential side effects related to the transplantation, thereby driving the
tissue engineering market growth
- Orthopedic, musculoskeletal,
and spine segment accounted for the major revenue share in 2019 and is
anticipated to dominate the market for tissue engineering through 2027
- The high share is
attributable to frequent damage to musculoskeletal tissues or loss of
tissue in disease or injury with limited repair probability
- In addition, a rise in
geriatric population, increasing sports-related injuries, and
musculoskeletal disorders is also responsible for a high share of
orthopedic, musculoskeletal, and spine segment
- The lucrative opportunities
proposed by emerging economies have drawn the attention of global leaders
for investing in the Asia Pacific region. This is attributable to the
fastest growth of the market for tissue engineering in the Asia Pacific
region throughout the forecast period
- Medtronic plc; Zimmer Biomet
Holdings, Inc; Allergan plc; Athersys, Inc; ACell, Inc.; Stryker
Corporation; Integra LifeSciences Corporation; and Baxter International,
Inc. are the key players operating in the market for tissue engineering
- These participants are
engaged in strategic alliances, deals, and development of novel products
to sustain their market share.
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Grand View Research has segmented
the global tissue engineering market on the basis of application and region:
Tissue Engineering
Application Outlook (Revenue, USD Million, 2016 - 2027)
- Cord blood & Cell
Banking
- Cancer
- GI, Gynecology
- Dental
- Skin & Integumentary
- Urology
- Orthopedics,
Musculoskeletal, & Spine
- Neurology
- Cardiology & Vascular
- Others
Tissue Engineering
Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Asia Pacific
- Japan
- China
- India
- Latin America
- Brazil
- Mexico
- MEA
- South Africa
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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