Tissue Engineering Market Outlook to 2027 - Stryker, Organogenesis, Cook Biotech

Publisher: The Insight Partners

The Synthetic Materials Segment by Material Type is expected to grow at A Fast Pace over the Forecast Period

According to The Insight Partners market research study of ‘Tissue Engineering Market to 2027 – Global Analysis and Forecasts by Material Type, and Application.’ The global tissue engineering market is expected to reach US$ 25,586.55 Mn in 2027 from 9,529.21 Mn in 2019. The market is estimated to grow with a CAGR of 13.5% from 2020-2027. The report provides trends prevailing in the global tissue engineering market and the factors driving market along with those that act as hindrances.

The global tissue engineering market, based on the material type, is segmented into synthetic material, biologically derived materials and others. The biologically derived materials segment held the largest share of the market in 2019. Whereas, the synthetic materials segment is estimated to register the highest CAGR in the market during the forecast period owing to its high demand in regenerative medicine. Moreover, A biomaterial is playing a progressively prominent role in the development of tissue engineering and biomedical devices that naturally increase the regenerative potential to human organs/ tissues to restore or recreate a normal bodily function, in a state of deterioration.

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Market Insights

Technological Advancements in the Field of 3D Tissue Engineering

3D bioprinting has rapidly transformed the healthcare sector in the last few years. This technology has advanced the development of tissue with clinical potential, paving the way for high-throughput applications for drug discovery. 3D bioprinting tissue-engineering helps in the healing of injuries; new breakthroughs in the 3D printing technique are projected to offer a potential treatment option for organ failure in future. Many research organizations are working toward finding new therapies to treat organ failure and repair cells of damaged tissues. For instance, in 2017, researchers at Penn State University discovered a revolutionary way to print tissues and organs with the use of an “electrospinning printer” that spins fibers seeded with cells to create fiber layers. This technology is both cheaper and offers an opportunity to spin polymer fibers such as collagen layers with precision and in a more controlled manner.

Material Type Insights

Based on Material Type, tissue engineering market, by material type, is segmented into synthetic material, biologically derived materials and others. The biologically derived materials segment held the largest share of the market in 2019 owing to malfunctioning, tissue injury, or disease and aging are expected to increase the demand for biologically derived materials in the forecast period. The market for synthetic material is expected to register the highest CAGR in the market during the forecast period due to demand in the in the biomedical field because of their properties, including degradation time, porosity, and mechanical characteristics.

Application Insights

The tissue engineering market, by application, is segmented into orthopedic, musculoskeletal & spine, neurology, cardiology and vascular, skin and others. In 2019, the orthopedic, musculoskeletal & spine accounted for the largest market share in the global tissue engineering market owing to increasing trauma and accidents cases. Apart from this, Tissue engineering has an immense potential to revolutionize regenerative medicine. The main objective of tissue engineering is to improve the biological functions of damaged or missing organs and tissues. The research activities related to tissue engineering have expanded from the repairing, replacement, and regeneration of blood vessels, bone, and organs such as heart and kidney to the delicate nervous system.

Strategic Insights

Product launches and expansion strategy is commonly adopted by companies to expand their footprint worldwide and meet the growing demand. This strategy is most commonly adopted by the market players in order to expand its product portfolio.

The market players operating in the tissue engineering market adopted the strategy of product innovation to cater to changing customer demand across the world, which also permits the players to maintain their brand name globally.

The tissue engineering market is expected to grow, increase incidences of chronic diseases, road accidents, and trauma injuries and technological advancements in the field of 3D tissue engineering. However, high cost of treatments related to tissue engineering is expected to restraint the growth of the market during the forecast years.

Leading companies operating in the tissue engineering market are Stryker Corporation, Organogenesis Inc., Cook Biotech Inc., Integra Life Sciences Corporation, Acelity L.P.Inc, Allergan Plc., Medtronic, Zimmer Biomet, Baxter International Inc. and DePuy Synthes (Johnson & Johnson Services, Inc.) among others.

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