Market Size of Global Tissue Engineering Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 12.80 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Tissue Engineering Market Analysis
The tissue engineering market is expected to register a CAGR of nearly 12.8% during the forecast period (2022-2027).
There have been effects of the COVID-19 pandemic on different surgical techniques. As a result of the lockdown restrictions, individuals with various lifestyle-related and chronic conditions had a delay in diagnosis and treatments, which affected the market under study. As per a study published in March 2021 entitled "Combating COVID-19 with tissue engineering: a review" after COVID-19, the lungs may sustain significant damage, particularly as a result of cytokine overexpression. Mesenchymal stem cells (MSCs) can repair injured lung tissue, stabilize endothelial fluid leaks, and decrease the alveolar-capillary barrier function, which helps to prevent the formation of interstitial lung edema. Since COVID-19 causes significant organ damage, tissue engineering plays a significant role in repairing lung tissue that has been destroyed. However, the market under study is anticipated to return to its full potential over time due to continued immunizations and a decline in COVID-19 cases.
Globally, there has been an increasing incidence of chronic diseases such as orthopedic, cardiovascular, and neurology disorders, which are leading to disability and negatively impacting people's physical and mental well-being. According to the study titled 'Sexuality and relationship experiences of women with spinal cord injury: reflections from an Indian context' published in the Sexual and Reproductive Health Matter in May 2022, around 250,000-500,000 persons worldwide suffer a spinal cord injury (SCI) each year. The most frequent causes of SCI include falls, violent acts, and traffic injuries. Men sustain these injuries at a rate of about 80%. Thus, chronic diseases are the leading causes of death and disability worldwide, which is expected to drive the market growth over the forecast period.
The rising chronic diseases, road accidents, and trauma injuries are found to be contributing to the growth in the development of tissue engineering solutions. There is an increasing number of people in need of bone implants that are on the rise owing to the increasing cases of chronic diseases, trauma cases, and growing average life span. According to the World Health Organization (WHO) Report 2021, each year 20-50 million people suffer from non-fatal injuries, with many incurring a disability as a result of their injury. 93% of the world's fatalities on the roads occur in low and middle-income countries, even though these countries have approximately 60% of the world's vehicles. Even within high-income countries, individuals from lower socioeconomic backgrounds are more likely to be involved in road traffic crashes. Thus, increasing road traffic-related crashes result in injuries, which is expected to boost the market growth.
Though the procedures are quite promising for the treatment of various conditions involving tissue damage; the high cost associated with these procedures is one of the major factors limiting their adoption among patients.
