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Tissue Engineering Market Toward $8.9B 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%
Tissue Engineering Market

The global tissue engineering market is projected to expand from $4.4 billion in 2023 to $8.9 billion by 2028, representing a strong CAGR of 15.3%. Key growth drivers include the rising need for advanced regenerative medicines to treat chronic and degenerative diseases, as well as increasing incidence of traumatic injuries from accidents.

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While high treatment costs currently restrain market growth, exciting technological advancements like 3D bioprinting, organ-on-chip technology, and Quantum Magnetic Resonance Therapy (QMRT) present attractive future growth opportunities. Traditional organ transplants remain a more cost-effective alternative currently and are a challenge the industry must overcome.

The tissue engineering ecosystem involves hospitals, clinics, technology providers, regulatory bodies, and collaborative networks all working together to advance tissue engineering solutions. Scaffold products, especially synthetic and biological materials like collagen and hydrogels, are the fastest growing segment. Orthopedics and musculoskeletal disorders are the dominant application area.

Geographically, North America leads the tissue engineering market, followed by Europe, driven by a thriving healthcare sector, intensive research activities, and rising degenerative disease rates. Key players include Organogenesis, AbbVie, Baxter, BD, Integra Lifesciences, and Johnson & Johnson, among others.

Recent developments include new product launches like MIMEDX’s placental-based allograft EPIEFFECT, Teijin’s SYNFOLIUM cardiovascular patch, and Integra’s SurgiMend collagen matrix, as well as AbbVie’s acquisition of Allergan to expand into new therapeutic areas. The future of tissue engineering looks very promising as the field advances.

AbbVie Inc. (US)

AbbVie Inc. is a research-based biopharmaceutical company operating in different areas, including oncology, immunology, neuroscience, aesthetics, and eye care. The company has a strong geographic presence across 70 countries with a broad range of distribution channels across 175 countries. AbbVie Inc. adopted strategic approaches such as acquisitions, partnerships, and collaborations to strengthen its geographic presence. For instance, in May 2020, AbbVie Inc. acquired Allergan plc. The acquisition aims to expand the long term growth of the company in therapeutic categories. Allergan offers new growth opportunities through its leading brands of tissue engineering products such as AlloDerm and Strattice.

Baxter (US)

Baxter (US) is a leading healthcare solution provider with a wide range of products under pharmaceutical injectables, diagnostics, anesthetics, adhesion prevention, hemostats & sealants, tissue repair technology, and bone repair technology. The company has strong distribution channels across 100 countries. Baxter focuses on the expansion of the product portfolio through product approvals and product launches. For instance, in July 2020, Baxter International received clearance from the US FDA for Altapore Shape Bioactive Bone Graft, which is designed to enhance bone growth and help achieve fusion in surgeries involving the skeletal system. The product is easy to mold and can be used as a standalone bone graft substitute or as an autograft extender to fill bony voids or gaps in the skeletal system, including in the pelvis, extremities, and posterolateral spine, which are surgically created or result from trauma.

Integra Lifesciences (US)

Integra Lifesciences is a leading provider of neurological solutions, regenerative technologies, and surgical instrumentation. The company offers a wide range of products for hemorrhagic stroke, multiple disease states, traumatic brain injury, and other neurological conditions. The company has a strong global presence in 130 countries. Integra Lifesciences aims to expand its customer base by adopting various strategic alliances such as partnerships, acquisitions, and collaborations. For instance, in January 2021, Integra Lifesciences acquired Acell Inc. ACell is a regenerative medicine company known for its proprietary porcine urinary bladder matrix platform technology, MatriStem UBM, which aligns with Integra’s focus on regenerative medicine and tissue technologies.

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