The global tissue engineering market was valued to be around USD 23.2 billion in 2015 and further expected to exceed USD 94.7 billion at a growing of CAGR 23% over the foreseeable period. Increasing in the positive results of R&D for tissue engineering and also owing to focus on therapeutic applications of tissue engineering comprising, dental & oral, neurological, oncology, cardiovascular, skin & Integumentary, orthopaedic and Others is the key driving factor over the forecast period.
Growing the need and bringing the gap demand of supply organs is the drivers for tissue engineering market. The innovation technique for effective, cost-efficient methods and human are been increased from past few years in-vitro testing has driven the market for the foreseeable period.
Usage of animals tissues has created huge ethical problems by many animal lovers and communities and these are been replaced by tissue-engineered human equivalents is growing at a rapid growth .Increasing in the advanced technology and creating the efficacy and toxicity testing is been done through animals and rats now it has now been occupied by reconstructed epidermis tissues
These epidermis tissues are approved from European centre of validation animal test and TERMIS. These engineered tissues are protected by commercialised private firms or by patents, with their elixir procedure which makes engineered tissues more expensive and less available in the market.
Moreover, these international bodies are fastened their changes in the regulation aspects for the use of regenerated tissues. In order recover such unauthorised clinics, and unproven stem cell institutes , TERMIS & ECVA are cutting down such clinics across the globe. This impacted a positive growth of tissue engineering market over the foreseeable period.
The Global tissue engineering market is been segmented through application based and regional based. On the basis of application development, the market is further segmented into various applications which include cord blood cell banking, GL gynaecology , skin integumentary, Orthopedics, cardiology & muscular applications. All these applications have occupied the maximum share.
The orthopaedic application occupied the maximum share in last few years, and an owing number of advanced technologies changes occurred in reconstructive and rearrangements surgeries. Growing ageing population and accidents drive the bone implant market over the future. These are capable of building the gap between supply and demand orthopaedic products. Increasing advanced technology on bone implantation, trials will be working on the upper and lower jaw cavity, which can be rearranged by implanting human bone.
Neurology tissue engineering is one of the fastest growing markets , it's showing a tremendous result on revolutionising regenerative neurology , repairs, replacement of body parts such as Kidney, heart and the delicate nervous system.
The demand for the engineered cells has also increased in the industry players from the pharmaceutical industry. For instance, in April 2015, Takeda Company Ltd and Center for IPS Cell Research Application signed a 10 years contract for development tissue engineering. Through the defined signed of collaboration, both the players will develop clinical applications, where they can make human similar tissues for cardiological diseases Furthermore, in Dec 2015, Pandorum Tec private Ltd, manufactured its first 3-dimensional printer engineered human tissue. The engineered liver performs all the normal functions such as detoxification, metabolism and secretion.
North America has dominated its maximum share in the market in 2015, and it is growing at lucrative speed over the forecast. The new initiatives and providing funds by the goveranment bodies and private firms are expected to rise the market over the forecast period. The good infrastructure and owing the presence of international players is expected to drive the market. As per the United States human and health development authorities the private players has invested more than USD 4 billion from last 2 year in tissue engineering. This could increase the market over the future period and gives maximum profit to the organisation in future.
Europe is currently focusing on 3 dimensiontional printing technology,in order to decrease the error percentage and make the surgery into cost efficient for tissue engineering.Europe is continuously upgrading its 3D printing technology in order to offer better and safe service to the patients. In 2016, 3Dimensional dynamic systems limted.launched brand new 3D printers Alpha 7G and Omega 7G bioprinters. The 3Diyanamic is currently working on bone frabrication and engineered tissues by using the 3D-printer.
Asia-Pacific owing the maximum share in tissue engineering and owing to the huge manpower and creating the huge knowledge base in tissue engineering , many R&D centres are giving the positive results ,and they are also upgrading into advanced systems and government funding are boosting the tissue engineering market in Asia-pacific region.
Some of the key players in operating the tissue engineering market are Medtronic, facility, Athersys, Agility, Organogenesis, Stryker Corporation , Tissue regenix group and many other.
Research Support Specialist, USA