Tissue engineering market size was valued at USD 5 billion in 2015 and is anticipated to exhibit significant growth over the next seven years. Rising need to bridge the organ demand and supply gap is expected to drive industry demand.
Orthopedic applications contributed more than 50% to the tissue engineering market share in 2015, and will continue leading revenue generation, mainly due to increased number of bone implants as a result of accidents and aging population base. Considerable degree of research in the neurology space will drive segment demand.
Organs developed by this procedure exhibit high durability and efficiency. Increasing applications of this technique from surgical manipulation of tissues and prosthetics to corneal, liver, and cardiac tissue engineering is predicted to propel growth from 2016 to 2023.
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Increasing organ transplantation cost accompanied by growing 3D printing prominence in medical applications for regeneration is anticipated to drive industry growth over the next seven years.
Cancer, cord blood & cell banking, GI & gynecology, skin or integumentary, dental, urology, musculoskeletal, orthopedics, spine, cardiology & vascular and neurology are the key application segments. Rising number of replacement as well as reconstructive surgeries has favored industry growth. In addition, increasing accident frequency paired with surging aged population is expected to drive the need for bone implants.
North America accounted for largest share in 2015 and is likely to continue its dominance till 2023, driven by the U.S. tissue engineering market. The growth can be attributed to existence of leading industry participants across the region as well as high financial support from the government as well as private organizations for research and development.
Asia Pacific is forecast to be the most attractive region over the next seven years. The regional growth can be attributed to existence of massive man power, technologically advanced procedures along with government funding.
Europe tissue engineering market is estimated to record moderate growth prospects over the forecast period due to the presence of strict regulatory norms. Constant research & development in regeneration surgeries as well as stem cell research is projected to offer massive growth opportunities, over the next seven years. The regional segment is also characterized by 3D printing adoption for lowering the cost as well as number of errors.
Industry participants accumulating significant share include Zimmer Biomet, Medtronic, Acelity, Organogenesis, Athersys, Stryker and RTI surgical. Other prominent companies are Integra LifeSciences, Advanced Cell Technology, CryoLife, Sanofi, BioMimetic Therapeutics, StemCellsInc, LifeCell Kinetic Concepts, Cook Biotech, and Arteriocyte.
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Major players in the industry are acquiring and collaborating with small players in order to leverage technology & research advancements and also expand their product portfolio. Furthermore, rising concentration on approval and patents is predicted to provide substantial growth prospects, over the forecast timeframe.
This latest Tissue Engineering Market research report offers in-depth analysis, key industry insights, market sizing & forecast on a granular level for key products, applications across a number of regional markets. The report also analyzes the Tissue Engineering Industry from business strategy perspective, describing in detail growth drivers, pitfalls &challenges for participants, accompanied by a detailed competitive benchmarking including company market share analysis and detailed business profiles.
Browse key industry insights spread across market data tables, figures & charts from the report, “Blood Preparation Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023” in detail along with the table of contents:
Key Insights in this Report
- Tissue Engineering Market size & forecast by product & application
- Growth drivers, pitfalls & industry challenges
- Key Tissue Engineering Market growth opportunities & emerging business models
- Competitive benchmarking with market share analysis and company profiles
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