Tissue engineering has gained tremendous attention recently. The advent and hype over advanced technologies like Big Data, 3D printing, and 3D cell culture are expected to bring in tremendous improvements in healthcare. However, tissue engineering currently still remains an underdeveloped opportunity in many ways. The treatment is mainly used for accident, and treating burn wounds. While, cosmetic surgeries in the area have improved significantly, their high-costs remain a significant barriers to high-level treatment. On the other hand, tissue engineering and organ regeneration seems promising in new areas like correcting birth effects, and making way for current bills such as mandatory prenatal screening bill in the United States senate. The rise in knowledge about various correlations and analysis due to technologies like Big Data, the market will likely be home to several new advancements during the forecast period. New areas like stem cells, and cell culture technology continue to expand horizons of players in the tissue engineering and organ regeneration market.
Tissue engineering Market: Key Players
The research study includes profiles of leading companies operating in the global tissue engineering market. Key players profiled in the report include: Zimmer Biomet, Medtronic, Acelity, Organogenesis, Athersys, Stryker, RTI surgical, Integra LifeSciences, and Advanced Cell Technology & CryoLife.
Advanced Cell Technology and MyungMoon Bio Co. Ltd., signed a distribution agreement:
In March 2019, Advanced Cell Technology and MyungMoon Bio Co. Ltd., signed an exclusive distribution agreement for the distribution of Advanced Cell’s Cytal Wound Matrix and MicroMatrix wound management solutions in South Korea. MyungMoon is a reputed distributor and manufacturer of drugs and medical devices in South Korea.
Drivers for the Global Tissue engineering Market:
Tissue engineering provides alternatives to surgical reconstruction, transplants, and other mechanical devices that are used to repair damaged tissues. The market for tissue engineering is also driven by a continuous increase in the need for effective regenerative treatments owing to a rise in the prevalence of diabetes, obesity, and other disorders due to lifestyle changes, aging population, and growing trauma cases. Technological advancements in the field of 3D tissue engineering, such as replacement of embryo cells with stem cells, organ-on-a-chip technology, and use of 3D bioprinters that can efficiently design in vitro implants, are expected to enhance growth. In addition, an increase in government funding for medical and academic research activities would enhance the growth of the market for tissue engineering throughout the forecast period.
Opportunities for the Global Tissue engineering Market:
Currently, there are over 100,000 patients waiting for an organ transplant in the US. The number keeps rising each despite growing organ donation. There are several issues in organ transplantation which keep patients from receiving organs. Most organs need to be harvested under a strict-timeline which can be as low as 24 hours. Due to such issue, it is estimated that over 20 people die each hour, waiting for an organ transplant. However, technologies like 3D printing promises to solve core issues at the heart of organ transplantation. The increasing advancements in the technology with availability of organs like heart, holds a major promise for the healthcare sector which continues to witness high rates of organ failures. The growth of organ donations and continuance in the global tissue engineering and organ regeneration market promises major growth.
Restrains for the Global Tissue engineering Market:
Factors such as lack of awareness regarding tissue engineering, lack of skilled professionals, and stringent regulatory policies are restraining the market growth. High cost of tissue engineering treatment is a major factor restraining growth of the global tissue engineering market. In addition, concerns related to hidden illness or diseases in the base tissue are another factor hampering growth of the global market. High cost of tissue engineering treatment is a major factor restraining growth of the global tissue engineering market. In addition, concerns related to hidden illness or diseases in the base tissue are another factor hampering growth of the global market.
Region Wise, Global Tissue engineering Market Analysis:
Report covers the region wise analysis, global tissue engineering can be segmented into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. Among all, North America leads the global tissue engineering market share followed by Asia-Pacific & Europe. While the North America leads the global tissue engineering market due to the rise in awareness for stem cell therapy as well as a growing geriatric population. Moreover, advanced technology for diagnosis and treatment of chronic disorders, availability of private and government funding, and high healthcare spending promotes a larger share of the regional market for tissue engineering.
Covid-19: Impact and Recovery Analysis for Global Tissue engineering Market:
The world is greatly affected by the uncertain raise of the covid-19 Pandemic among the population. The Corona virus outbreak has disrupted & disturbed every sector of business as well as human activity. In most parts of the world there has been a complete restriction set by governments regarding various activities and in turn this is greatly affecting the financial stability of industries like: (Market Name Tissue engineering market globally. Most of the industries and businesses like: (put the market Tissue engineering) are shifting to manufacturing equipment that can support the covid-19 spread from increasing and spreading. Biopharmaceutical innovators are at the forefront of the human response to the coronavirus pandemic. A significant number of major biotech firms are in the midst of a race to investigate the Sars-Cov-2 genome and prepare a viable vaccine for the same. As compared to the speed of response to SARS/MERs etc., the biotech entities are investigating SARs-Cov-2 at an unprecedented rate and a considerable amount of funds are being put into the R&D. With multiple candidates in trial, the public and private sectors are anticipated to work in unison for the foreseeable period, until a vaccine is developed for Covid-19.
Global Tissue engineering Market: Product analysis
- Synthetic Materials
- Biologically Derived Materials
Global Tissue engineering Market: Application analysis
- Musculoskeletal & Spine
- Cardiology & Vascular
- Skin & Integumentary
Global Tissue engineering Market: Region analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of L.A.
- Middle East and Africa
- South Africa
- Rest of Middle East