Tissue Engineering Market Size Worth $28.9 Billion by 2027 | CAGR

14.2%: Grand View Research, Inc.

SAN FRANCISCO, May 25, 2020 /PRNewswire/ -- The global tissue engineering market size is expected to reach USD 28.9 billion by 2027, expanding at a CAGR of 14.2%, according to a new report by Grand View Research, Inc. Allogenic tissue transplant method efficiently addresses challenges and limitations regarding the implementation and availability of autologous transplants. Moreover, the development of specialized procedures including implant fixing and sterilization to transform allogeneic implants so for application as biostatic implants is expected to drive revenue generation in this market.

Key suggestions from the report:

• Cardiology and vascular application is one of the fastest-growing segments owing to an increasing incidence rate of heart failures worldwide
• Since the past 20 years, cardiac cell therapy or cardiomyoplasty has been an important focal point of the majority of the studies aimed at heart disease management through regeneration
• A rise in the number of children with congenital malformations such as single ventricle anomalies has led to the growing demand for heart transplantation
• Tissue-engineered organs help address challenges related to the lack of suitable donor organ and potential side effects related to the transplantation, thereby driving the tissue engineering market growth
• Orthopedic, musculoskeletal, and spine segment accounted for the major revenue share in 2019 and is anticipated to dominate the market for tissue engineering through 2027
• The high share is attributable to frequent damage to musculoskeletal tissues or loss of tissue in disease or injury with limited repair probability
• In addition, a rise in geriatric population, increasing sports-related injuries, and musculoskeletal disorders is also responsible for a high share of orthopedic, musculoskeletal, and spine segment
• The lucrative opportunities proposed by emerging economies have drawn the attention of global leaders for investing in the Asia Pacific region. This is attributable to the fastest growth of the market for tissue engineering in the Asia Pacific region throughout the forecast period
• Medtronic plc; Zimmer Biomet Holdings, Inc; Allergan plc; Athersys, Inc; ACell, Inc.; Stryker Corporation; Integra LifeSciences Corporation; and Baxter International, Inc. are the key players operating in the market for tissue engineering
• These participants are engaged in strategic alliances, deals, and development of novel products to sustain their market share.

Read 140 page research report with ToC on "Tissue Engineering Market Size, Share & Trends Analysis Report By Application (Cord Blood & Cell Banking, Cancer, GI & Gynecology, Dental, Orthopedics, Musculoskeletal, & Spine), By Region, And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/tissue-engineering-and-regeneration-industry