Global Tissue Engineering Market to Reach US$ 48.4 Billion by 2032, Propelled by Rising Prevalence of Chronic Diseases

IMARC Group's latest report, titled "Tissue Engineering Market Report by Type (Synthetic Scaffold Material, Biologically Derived Scaffold Material, and Others), Application (Orthopedics and Musculoskeletal, Neurology, Cardiovascular, Skin and Integumentary, Dental, and Others), End User (Hospitals and Clinics, Ambulatory Facilities), and Region 2024-2032," finds that the global tissue engineering market size reached US$ 18.0 Billion in 2023. Tissue engineering (TE) is a field within biomedical engineering that integrates cells, scaffolds, and biologically active substances to construct functional tissues. It creates biological substitutes that can restore, enhance, maintain, or replace different types of tissues or organs by combining the principles of life sciences and engineering. It offers a viable alternative to traditional transplants, surgical reconstruction procedures, and mechanical devices for repairing damaged tissues. As a result, tissue engineering is gaining immense traction in various medical applications such as burn treatment, neurology, wound care, orthopedic, musculoskeletal, cardiovascular, and urological products across the globe. At present, researchers are focusing on developing biomaterials for skin substitution, as there is a growing demand for cheaper and readily available skin replacement products. 

Global Tissue Engineering Market Trends:

The rising prevalence of chronic diseases, such as diabetes, cancer, obesity, and cardiovascular disorders, due to sedentary lifestyles, aging populations, and unhealthy dietary habits represent the primary factor driving the market growth. Moreover, the escalating demand for regenerative medicines and TE procedures owing to the elevating success rate of tissue engineering in treating irreversible tissue damage is positively influencing the market growth. Additionally, the increasing incidences of fatal road accidents and trauma injuries and the rising need for bone implants among patients have augmented the product demand. Besides this, numerous product innovations, increasing government funding, and private investments in research and development (R&D) activities are propelling market growth. Furthermore, various technological advancements in three-dimensional (3D) tissue engineering, such as organ-on-a-chip technology, the replacement of embryo cells with stem cells, and the use of 3D bioprinters for efficiently designing in vitro implants, are contributing to market growth. Apart from this, the rising focus of key players on tissue engineering-based therapies has catalyzed market growth. Other factors, including the increasing number of replacement and reconstructive surgeries, rising consumer healthcare expenditure, and the surging demand for plastic surgeries, are also anticipated to provide a positive thrust to the market growth. Looking forward, IMARC Group expects the market value to reach US$ 48.4 Billion by 2032, expanding at a CAGR of 11.3% during 2024-2032. 

Market Summary:

• Based on the type, the market has been divided into synthetic, biologically derived, and other scaffold materials. 
• On the basis of the application, the market has been classified into orthopedics and musculoskeletal, neurology, cardiovascular, skin and integumentary, dental, and others. 
• Based on the end user, the market has been bifurcated into hospitals and clinics and ambulatory facilities. 
• Region-wise, the market has been segregated into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa.
• The competitive landscape of the market has also been examined, with some of the key players being AbbVie Inc., B. Braun Melsungen AG, Baxter International Inc, Becton, Dickinson and Company, Integra LifeSciences Corporation, Organogenesis Holdings Inc, RTI Surgical, Smith & Nephew plc, Stryker Corporation, Vericel Corporation, and Zimmer Biomet.

Report Scope:

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