Tissue Engineering Market to Reach $8.9 Billion by 2028

The tissue engineering market is projected to reach USD 8.9 billion by 2028 from an estimated USD 4.4 billion in 2023, at a CAGR of 15.3%

The tissue engineering market is expected to reach USD 8.9 billion by 2028 from an estimated USD 4.4 billion in 2023, at a CAGR of 15.3% during the forecast period. The growth is attributed to numerous factors including increasing incidences of road accidents, rising demand for regenerative medicines for the treatment of chronic diseases, and growing technological advancements in the biopharmaceutical sector. In addition, increasing research activities in the field of tissue engineering is promoting the growth of the tissue engineering market.

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3D bioprinting is an innovative technology in tissue engineering, that enables the precise fabrication of intricate tissue structures, vital for regenerative medicine and drug testing. Its development is primarily propelled by continual technological advancements, including improved bio inks and printing techniques, coupled with the critical need to address organ shortages and revolutionize medical treatments. Material innovation also plays a pivotal role, in fostering the creation of biocompatible substances essential for enhancing the viability and functionality of bio-printed tissues. Additionally, collaborative research efforts among multidisciplinary fields drive progress, promising transformative solutions in healthcare.

Based on product type, the tissue engineering market has been segmented into scaffolds, tissue grafts, and other products. In 2022, scaffolds accounted for the largest market share. Scaffold-driven tissue engineering hinges on biocompatibility, mechanical robustness, and optimal pore structure for cell infiltration and nutrient exchange. Integration of bioactive cues and vascular-like properties also fuels advancements, crucial for crafting functional and viable engineered tissues. These driving factors collectively shape scaffold design, influencing their efficacy in tissue engineering applications.

Based on material, the global tissue engineering market is segmented into synthetic materials and biologically derived materials. Synthetic material accounted for major market share of the tissue engineering market in 2022. The large share of this segment can be attributed to the cost effectiveness of the synthetic products as compared to the biologically derived products. In addition, increasing demand for advanced and cost-effective tissue engineering solutions is propelling the growth of the synthetic material segment in the tissue engineering market.

Based on application, the tissue engineering market is segmented into orthopedics & musculoskeletal disorders, dermatology & wound care, dental disorders, cardiovascular diseases, and others. In 2022, orthopedics & musculoskeletal disorders accounted for the largest share of the global tissue engineering market. The large share of the segment can primarily be attributed to rising demand for high quality tissue engineering products for the repair and reconstruction of damaged tissues or organs. Additionally, increasing incidences of road accidents are promoting the adoption of tissue engineering products for tissue reconstruction.

Based on end users, the tissue engineering market has been segmented into hospitals, specialty centers and clinics, and ambulatory surgical centers. Hospitals accounted for the largest market share of the tissue engineering market. The large share of the segment can primarily be attributed to the increasing demand for advanced regeneration solutions for the reconstruction and regeneration of tissues. Additionally, the increasing rate of chronic and degenerative diseases is driving the demand for hospitals.

The key regional markets for the global tissue engineering market are Europe, North America, Asia Pacific, Latin America, and the Middle East & Africa. In 2022, North America accounted for the largest share of the market. The large share of this region can be attributed to the growing technological developments in the healthcare sector and rising research activities for the advancements of the tissue engineering field. However, most of the growth in the market is expected from emerging countries across Asia Pacific. During the forecast period, the Asia Pacific is expected to grow with the fastest CAGR due to the increasing adoption of innovative technologies for the treatment of chronic and degenerative diseases.

Key players in the global tissue engineering market include Organogenesis (US), AbbVie Inc. (US), Baxter (US), BD (US), B. Braun (Germany), TEIJIN Limited (Japan), Institut Straumann AG (Switzerland), Integra Lifesciences (US), Johnson & Johnson Services, Inc. (US), Medtronic (Ireland), NuVasive, Inc. (US), Stryker (US), Terumo Corporation (Japan), W. L. Gore & Associates Inc. (US), Zimmer Biomet (US), Smith & Nephew plc (UK), MIMEDX Group, Inc. (US), BioTissue (US), CollPlant Biotechnologies Ltd. (Israel), Sumitomo Pharma Co., Ltd. (Japan), Matricel GmbH (Germany), Mallinckrodt (US), Regrow Biosciences Pvt Ltd (India), Vericel Corporation (US), Tecnoss S.R.L. (Italy), Tegoscience (South Korea), and Tissue Regenix (UK).