Tissue Engineering Market Size, COVID19 Impact Analysis, Regional Outlook, Application Development, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI438
Tissue Engineering Market size will rise with an increasing trend for regenerative medicine and considerable therapeutic advances. A notable uptick in the number of gene therapies, approved cells and research activities will boost the market growth.
Tissue engineering is a robustly evolving discipline that can regenerate, repair or replace organs or tissues. A subfield of regenerative medicine—tissue engineering—is emphasizing the restoration of functional tissue. Regenerative medicine includes gene editing, engineered biomaterials and stem cells. Increasing cases of chronic diseases and the growth of 3D bioprinting will propel the market expansion. Prominently, the National Institute of Health (NIH) is funding adult stem cell-based therapies into clinical trials to foster the field of regenerative medicine.
A rise in the number of surgeries needing bone replacement will fuel market value from the orthopedic application segment. The 3D printing method has become popular as an advanced technology for tissue engineering that can help in specialized biomaterial scaffolds. 3D printing is offering a viable spatial microenvironment to spur the migration of cells and surge the platform for tissue engineering of the musculoskeletal system. Silk-based scaffolds for biomedical usage have become one of the major trends in musculoskeletal tissue engineering, impelling the industry expansion.
Healthcare systems are working towards evolving their strategies and policies to expand the penetration of synthetic scaffold materials. These materials are driving the global market revenue, thanks to their increased efficiency and better results as compared to naturally derived materials. The scaffold is profoundly used for tissue engineering owing to its capability or biocompatibility to stimulate cellular adhesion. It provides a template for the reconstruction of defects yet augmenting cell attachment.
Research activities have picked pace amidst a rise in cases of chronic disorders, diabetes and cancer. They are reprogramming stem cells to restore normal function and design an artificial organ transplant. Notably, the New York State Stem Cell Science program (NYSTEM) sponsored studies done by Lorenz Studer at the Memorial Sloan Kettering Cancer Center for the first clinical trial to treat Parkinson’s disease. However, New York state has stopped stem cell research funding effective from May 1, 2021.
On the regional front, North America tissue engineering market size will grow with increasing demand for stem cell therapy. Moreover, an upsurge in the healthcare budget has added impetus to the industry growth. According to the OECD 2019 report, the U.S. spent the most on healthcare in 2019, based on healthcare per capita and in terms of GDP. Based on GDP, The U.S. had spent 17% of GDP in 2019.
A robust government approach in the region will spur the trend for regenerative medicine in the region. For instance, the Government of Canada is investing in regenerative medicine and genomics to combat blood disorders and cancer. The government earmarked $4.3 million through the Stem Cell Network to overcome challenges such as multiple sclerosis, muscular dystrophy and blood disorders.
Key stakeholders in the global market are Medtronic, RTI Surgical, Stryker, Zimmer Biomet, Athersys, Acelity, LIfeCell Kinetic Concepts, Integra LifeSciences, CryoLife, Arteriocyte, StemCellsInc, BioMimetic Therapeutics and Organogenesis, among others. Leading companies are expected to emphasize research activities and ink deals and partnerships. To illustrate, Medtronic received USD 337 million from Blackstone in June 2020 to considerably boost research and development funding in its diabetes portfolio.
In yet another instance, ACell received 510(K) clearance from the U.S. FDA for its Gentrix product line in April 2019. The clearance will influence the use of Gentrix Surgical Matrix devices in minimally invasive hernia repairs.
COVID-19 impact on tissue engineering market share
The impact of the pandemic has been such that companies are shifting their focus towards the growth of vaccines and drugs to combat COVID-19 pandemic. Tissue engineering is designing scaffolds, drug delivery systems and biomaterials for damaged organs and tissues. Considering that the virus can severely damage lungs, several researchers claim the use of mesenchymal stem cells to repair damaged lung tissue and minimize the alveolar-capillary barrier function.
Stakeholders are focusing on the growth of tissue engineering relevant to the pandemic, including small-molecule drug delivery. Tissue engineers are working closely with chemists, biologists, clinicians and other specialists, indicating a positive growth trajectory for the market.
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