Global Tissue Engineering and Regeneration Market to grow with a CAGR of 8.35%
Increasing healthcare infrastructure and
a supportive regulatory environment are the major drivers for the Global Tissue
Engineering and Regeneration Market.
According to TechSci Research report, “Global
Tissue Engineering and Regeneration Market Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2028”, Global Tissue Engineering and
Regeneration Market has valued at USD 14.57 billion in 2022 and is anticipated
to witness an impressive growth in the forecast period with a CAGR of 8.35%
through 2028. This can be due to
collaborations and partnerships among leading companies with a diverse approach
to merge the expertise of individual companies and to strengthen their position
in the market. Growing awareness is a significant driver of the demand in the
Global Tissue Engineering and Regeneration Market. As more people, healthcare
professionals, and policymakers become aware of the potential benefits and
applications of tissue engineering and regenerative medicine, it spurs
increased interest and demand in this field. Increased awareness among patients about the potential of
tissue engineering and regenerative therapies to address a wide range of
medical conditions, from organ failure to tissue injuries, drives them to seek
these advanced treatments. Patients and their families actively explore
regenerative options for better health outcomes. Physicians and healthcare
providers play a crucial role in informing and educating patients about the
availability of tissue engineering and regenerative treatments. As awareness
grows, more doctors may refer patients to regenerative therapies as part of
their treatment options. As awareness spreads, the stigma associated with novel
regenerative treatments decreases. Patients and healthcare professionals become
more accepting of these therapies as mainstream medical solutions. Growing
awareness leads to improved patient education materials, seminars, and support
networks, which empower patients to make informed decisions about regenerative
therapies.
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The field of tissue engineering and
regeneration involves the synergistic combination of living cells and
biomaterials to produce functional tissues. Regenerative medicine has
experienced a transformative shift thanks to the integration of stem cells and
growth factors, unlocking novel possibilities for addressing a broad spectrum
of medical conditions and injuries. The development of state-of-the-art
biomaterials, including scaffolds, hydrogels, and extracellular matrices, is
contributing to the revenue growth of this market. The increased desire for
personalized treatments and the utilization of 3D printing technology in tissue
engineering have generated fresh opportunities in the market. In October 2020, 3M has
unveiled the PREVENA RESTOR AXIO•FORM™ Incision Management System, specifically
designed for the management of post-operative incisions and the surrounding
soft tissue envelope in the context of orthopedic surgical repair for lower
extremity fractures. The PREVENA RESTOR AXIO•FORM™ system plays a role in
stabilizing the incision site and the adjacent soft tissue, reducing edema, and
contributing to the improvement of post-operative recovery. This marks the
third addition to the PREVENA RESTOR™ Therapy portfolio, which was initially
introduced in 2019 to optimize post-surgical care and expand 3M's offerings in
the field of specialty surgical solutions. The primary objective of the PREVENA
RESTOR™ Incision Management System is to address surgical incisions that
continue to produce drainage after sutured or stapled closure by creating a
sealed environment and using negative pressure wound therapy to remove
exudates.
Ethical
and legal concerns are significant challenges in the Global Tissue Engineering
and Regeneration Market. These challenges arise from the complex nature of the
field, the need to balance scientific progress with ethical considerations, and
the necessity of navigating a dynamic regulatory landscape. Obtaining informed
consent from patients participating in clinical trials and treatments is
crucial. Patients must fully understand the risks and benefits of regenerative
therapies and provide voluntary consent. Ensuring that patients are
well-informed is an ethical and legal requirement. Determining ownership and
control of cells and tissues used in tissue engineering can be ethically and
legally complex. Issues may arise when cells are harvested from patients or
donors, especially when considering intellectual property rights. Intellectual
property disputes can occur over the ownership of technologies, methods, and
products developed in the tissue engineering and regenerative medicine field.
Legal battles over patents can stifle innovation and delay the availability of
treatments. The collection and use of patient data and genetic information for
personalized regenerative therapies raises concerns about privacy and data
protection. Adherence to data protection laws is essential, particularly in
research and treatment settings.
Global Tissue
Engineering and Regeneration Market is segmented based on Products, Application,
and by region. Based on the Product, Global Tissue
Engineering and Regeneration Market is segmented into Biomaterials, Cell
Therapy, Tissue Engineering. Cell
therapy is a form of regenerative medicine that involves the use of living
cells to treat or potentially cure various diseases, injuries, and medical
conditions. The primary objective of cell therapy is to harness the therapeutic
properties of cells, such as stem cells, immune cells, or other specialized
cell types, to restore tissue function, repair damaged organs, or stimulate the
body's own regenerative mechanisms. Immunotherapies, such as CAR-T cell therapy,
involve genetically modifying a patient's own T cells to target and destroy
cancer cells. These therapies have shown remarkable success in treating some
forms of cancer. Stem cells are used to promote tissue regeneration in cases of
injuries, degenerative diseases, or congenital defects. For example,
mesenchymal stem cells can aid in bone and cartilage repair, while neural stem
cells can help restore damaged neural tissues. Certain cell therapies aim to
modulate immune responses, either by suppressing or enhancing the immune
system. This can be useful in autoimmune diseases, transplant rejection
prevention, or boosting the immune response against infections.
Based on Region, North America held the largest share
in the Global Tissue Engineering and Regeneration Market. A
robust and stable economic environment in North America encourages investment
and business growth. This attracts both domestic and international companies to
set up operations in the region. The availability of venture capital and
private equity funding in North America enables startups and established
companies in the tissue engineering and regenerative medicine sector to secure
the financial resources needed for research and development. North America
benefits from a skilled and experienced medical and scientific workforce.
Clinicians and researchers are well-trained in the latest techniques and
technologies in regenerative medicine. Patients and healthcare professionals in
North America are generally more aware of and open to regenerative therapies.
This increases market demand and accelerates adoption.
Some of the major companies operating in
the Global
Tissue Engineering and Regeneration Market include:
- Organogenesis Inc.
- Acelity L.P. Inc.
- Zimmer Biomet Holdings Inc.
- Stryker Corporation
- Integra LifeSciences Holdings Corporation
- Medtronic plc
- Smith & Nephew plc
- Athersys Inc.
- Vericel Corporation
- Osiris Therapeutics, Inc.
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“Certain
areas, particularly in North America, are projected to exert significant demand
for Tissue Engineering and Regeneration. The growth in the competitive
landscape and the presence of well-established companies in the market, committed
to enhance the overall wellbeing of people each year, are expected to
contribute to a remarkable growth of the Global Tissue Engineering and
Regeneration Market in the forecast period," said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based Global management
consulting firm.
Tissue Engineering and Regeneration Market by Product
(Biomaterials, Cell Therapy, Tissue Engineering), by Application (Orthopedics,
Dermatology, Cardiology, Neurology, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F has evaluated the future growth potential of Global
Tissue Engineering and Regeneration Market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide innovative market intelligence and help decision makers take
sound investment decisions. Besides, the report also identifies and analyzes
the emerging trends along with essential drivers, challenges, and opportunities
in Global Tissue Engineering and Regeneration Market.
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