Visiongain has published a new report on Tissue Engineering Market Report 2021-2031: Forecasts by Application (Cord Blood & Cell Banking, Cancer, GI & Gynaecology, Dental, Orthopaedics, Musculoskeletal, & Spine). PLUS Profiles of Leading Pharma Contract Manufacturing Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.
Global Tissue Engineering market was valued at US$ xx billion in 2020 and is projected to reach at a market value of US$ xx billion by 2031. The capability of tissue engineering techniques in treating irreparable damage of tissues has boosted the market growth. Moreover, a rise in demand for reformative medicine and tissue engineering procedures to treat damaged tissues further increases this growth.
COVID-19 Impact on Tissue Engineering Market
Tissue engineering market will spur during the spread of pandemic COViD-19, as the market finds multiple application areas which includes Cord Blood & Cell Banking, Cancer, GI & Gynaecology, Dental, Orthopaedics, Musculoskeletal, & Spine which are ever-increasing areas of spread of disease.
Tissue engineering provides substitutes to surgical reconstruction, transplants, and other automated devices that are used to repair injured tissues. The market for tissue engineering is also boosted by a constant 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.
Orthopaedics, musculoskeletal, and spine segment led the market for tissue engineering in 2019 due to the rise in the occurrence of musculoskeletal disorders. The orthopaedic regenerative segment includes the spine, bone substitutes, and bone grafts. According to the U.S. Medicare and Medicaid facility, there are around 900,000 surgeries every year that need bone replacement or reconstruction. The healthcare expenditure in the U.S. is increased by USD 60 billion owing to the prevalence of approximately 15 million fracture cases yearly.
Some of the companies profiled in the market for tissue engineering include Medtronic plc; Zimmer Biomet Holdings, Inc; Allergan plc; Athersys, Inc; ACell, Inc.; Organogenesis Holdings Inc; Tissue Regenix Group plc; Stryker Corporation; RTI Surgical, Inc.; Integra Life Sciences Corporation; ReproCell, Inc.; and Baxter International, Inc.
• Key players are entering into contracts and partnerships to gain a competitive advantage over their competitors. For instance, in March 2019, ACell and MyungMoon Bio Co. Ltd., signed an exclusive distribution contract for the circulation of ACell’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.
• Additionally, major players are in a process of development of new tissue engineering products and up-gradation of their product ranges to cater the current demand. For instance, in April 2019, ACell received an additional 510(k) FDA clearance for its Gentrix product line. This headed to an increase in indications for use of the company’s Gentrix surgical matrix products.
• Besides this, companies such as Histogenics Corp.; MiMedix Group, Inc.; Genzyme; and DiscGenics have work in progress products with constructive results in preclinical and clinical trials. Anticipated successful launch of these products during the forecast period is expected to make a significant contribution towards market growth.
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