October 04, 2019
According to the latest study titled ‘Global Tissue Engineering Market Growth 2019-2024’ available with Market Study Report LLC, the global tissue engineering market is estimated to accumulate US $39300 million by the year 2024.
Tissue engineering is a process involving the development of tissues and organ substitutes outside the body using a combination of cells, engineering and methods under suitable biological and physiochemical conditions. These engineered substitutes help in maintaining, restoring and improving the function of ruptured human tissue. The technology is widely applicable in burn treatment, neurological products, wound care, orthopedics, and urological products, hence propelling the market growth.
According to the study, the global tissue engineering market was valued at US $14000 million in 2019 and is estimated to register a growth of 18.8% CAGR over the analysis period. The study analyzes global tissue engineering market for segmental shares and growth opportunities. Furthermore, it also provides an exhaustive understanding regarding trends, challenges, marketing strategies, distribution channels, consumer spectrum, and drivers influencing the market growth.
Based on type, the market is segmented as biologically derived materials and synthetic materials, wherein the former segment held 54% revenue share in 2016. While based on application spectrum, the tissue engineering market is divided into cardiology & vascular, neurology, skin & integumentary and others.
Considering the geographical landscape, tissue engineering market is fragmented into four major regions. Middle East & Africa comprise of GCC countries, South Africa, Israel, Egypt, and Turkey; Americas consist of the United States, Brazil, Mexico, and Canada; Germany, Spain, Russia, France, UK, and Italy fall under Europe; and Korea, Australia, China, Southeast Asia, Japan, and India come under Asia Pacific.
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Moreover, North America tissue engineering market accounted for 54% production share and 43% consumption share in 2016. While, tissue engineering market in Europe contributed 31% share towards production and 35% share towards consumption in the same year, claims the report.
The key contenders of the global tissue engineering market are Integra Lifesciences, Allergan, Zimmer Biomet, C. R. Bard, Organogenesis, Cryolife, Osiris Therapeutics, Biocomposites, ACell, Episkin, DSM, Athersys, J-TEC, B. Braun, Biotime, Bio Tissue Technologies, and International Stem Cell.