Tissue Engineering Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Material Type (Synthetic Material, Biologically Derived Materials, and Others) and Application (Orthopedic, Musculoskeletal & Spine, Neurology, Cardiology & Vascular, Skin

Tissue Engineering Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Material Type (Synthetic Material, Biologically Derived Materials, and Others) and Application (Orthopedic, Musculoskeletal & Spine, Neurology, Cardiology & Vascular, Skin & Integumentary, Urology, GI & Gynecology, Cancer, and Others)

The global tissue engineering market is anticipated to reach US$ 13,236.87 million in 2022 and is projected to touch US$ 29,659.93 million by 2028. It is expected to grow at a CAGR of 12.2% from 2022 to 2028.

The growth of the global tissue engineering market is mainly attributed to factors, such as the increasing incidences of chronic diseases, road accidents and trauma injuries, and technological advancements in the field of 3D tissue engineering. However, the market is likely to get impacted by the high cost of treatments related to tissue engineering during the forecast period.

Tissue engineering is a biomedical engineering discipline that uses a combination of cells, engineering, material methods, and appropriate biochemical and physicochemical factors to regenerate, preserve, enhance, or replace various types of biological tissues. Tissue Engineering (TE) is a rapidly evolving discipline that aims to repair, replace, or regenerate tissues or organs by converting fundamental physics, chemistry, and biology knowledge into practical and effective materials or devices and clinical strategies.

Tissue engineering has several primary functions in medicine and research: Assisting in tissue or organ repair, including bone repair (calcified tissue), cartilage tissue, heart tissue, pancreatic tissue, and vascular tissue. The field also researches the behavior of stem cells. Stem cells can develop into many different cell types and help repair areas of the body. The 3D nature of tissue engineering allows the study of tumor architecture in a more detailed environment. Tissue engineering also provides an environment to test potential new drugs for these diseases. The growth in the number of R&D activities with increasing awareness of tissue engineering in emerging markets is expected to support the global tissue engineering market growth. Developed nations have adopted technological advances in tissue engineering and regenerative medicine that contribute to expanding the global tissue engineering market.

Ever since severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) was declared a public health emergency of international concern in late January 2020, medical professionals and researchers have been urging the need for comprehensive and rapid testing of citizens to plan measures that can contain the spread of the virus. The COVID-19 pandemic has become the most significant challenge across the world. This challenge was frightening, especially in developing countries worldwide, as it expected to reduce imports due to disruptions in global trade in the coming years. To date, no definitive treatment against the COVID 19 has been established. Hence, the lack of definitive therapy offers significant opportunities for the tissue engineering market as the US FDA has recently approved the use of plasma therapy for critically ill COVID 19 patients.

Over time, real-time polymerase chain reaction tests and antibody tests have emerged as vital techniques for the global healthcare system in managing the outbreak. The supply chain disruptions and the enormous demand for effective diagnostics and therapeutics for the treatment of COVID 19 put the healthcare research industry in a critical situation in various regions. Risks were majorly on emerging markets that face healthcare constraints and tighter financial conditions. The COVID-19 pandemic also hampered clinical trials, drug development, and the diagnostics industry's operation in the region.

Also, significant disruptions to routine research activities involving tissue engineering and regenerative medicines were observed due to the pandemic. Many industries were affected by the crisis, including tissue engineering research activities, due to the shutdown of research centers, lack of healthcare facilities, and an increasing number of cases. However, after the emergence of the COVID-19 vaccine, research centers have commenced studies and research on stem cells, regenerative medicine, and other therapies. Hence, the tissue engineering market in Europe is gaining attention after the COVID-19 impact.

Based on material type, the global tissue engineering market is segmented into synthetic material, biologically derived materials, and others. In 2022, the biologically derived materials segment is anticipated to account for the highest share of the global tissue engineering market. A biomaterial plays a significant role in the development of tissue engineering and biomedical devices that naturally increase the regenerative potential of tissues to restore body mechanisms in a state of deterioration.

Biologically derived materials are used in creating neo-tissues in vitro that are identical to their fundamental body parts. These materials also help in tissue regeneration by a controlled presentation and on-demand release of specific chemokines at injury sites, tissue-resembling structural, temporary biodegradable support matrices with natural and functional characteristics. However, the synthetic material segment is likely to register the highest CAGR in the global tissue engineering market during the forecast period.

Based on application, the global tissue engineering market is segmented into orthopedic, musculoskeletal & spine, neurology, cardiology and vascular, skin & integumentary, urology, GI & gynecology, cancer, and others. The orthopedic, musculoskeletal & spine segment is expected to lead the market in 2022. However, the skin & integumentary segment is anticipated to register the highest CAGR in the global tissue engineering market during the forecast period.

The World Health Organization (WHO), the US Food and Drug Administration (FDA), Centers For Disease Control And Prevention, American Heart Association, Biomedical Advanced Research and Development Authority, and Foundation For Innovative New Diagnostics are some of the major primary and secondary sources referred for preparing this report.

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List of Companies

1. Stryker Corporation
2. Organogenesis Inc.
3. Cook Biotech Inc.
4. Integra Life Sciences Corporation
5. 3M
6. AbbVie Inc.
7. Medtronic
8. Zimmer Biomet
9. Baxter International Inc.
10. DePuy Synthes (Johnson & Johnson Services, Inc.)
11. B. Braun Melsungen AG