Report : North America Tissue Engineering Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Material Type (Synthetic Material, Biologically Derived Materials, and Others) and Application (Orthopedic, Musculoskeletal & Spine, Neurology, Cardiology & Vascular, Skin & Integumentary, Urology, GI & Gynecology, Cancer, and Others)
At 12.5% CAGR, the North America Tissue Engineering Market is speculated to be worth US$ 14,218.20 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America tissue engineering market was valued at US$ 6,242.13 million in 2021 and is expected to reach US$ 14,218.20 million by 2028, registering an annual growth rate of 12.5% from 2021 to 2028. Raising number of road accidents and trauma injuries, and elevating incidence of chronic diseases and heighten technological advancements in the field of 3D tissue engineering.
The rising incidence of chronic diseases as well as number of trauma injuries and road accidents are prime factors contributing to the growth of the market for advanced treatment procedures, such as tissue engineering. Road accidents are among the major fatalities worldwide as they cause serious injuries to bones and organs. As per the WHO, ~20–50 million people get injured every year in road accidents. Tissue engineering offers alternatives to surgical reconstruction, transplantation, and mechanical device instruction to repair damaged tissues. The tissue engineering market is mainly driven by a continuous need for effective regenerative treatments to treat increasing cases of diabetes, obesity, and other disorders caused by lifestyle changes; growing base of elderly people; and rising number of trauma cases. A spinal cord injury (SCI) refers to damage to the spinal cord that temporarily or permanently changes its function. Globally, the mean prevalence of traumatic and non-traumatic SCI is estimated at 1:1000, and the annual incidence ranges from 2.1 to 130.7/million in developing countries and from 15 to 39/million in developed countries. According to Multidisciplinary Digital Publishing Institute (MDPI) an estimated 3 million people live with traumatic SCI worldwide, with approximately 180,000 new cases reported each year. SCI often results in devastating, long-lasting neurological deficits, manifesting as dysfunction of the motor, sensory, or autonomic nervous systems below the level of injury. To thoroughly repair or regenerate damaged tissues or organs and restore their functions has been a dream of humans. The advent of Tissue Engineering and Regenerative Medicine (TERM) seems to make this possible. Tissue engineering combines cells, scaffolds, and growth factors to regenerate tissue or replace damaged or diseased tissue. In contrast, regenerative medicine combines tissue engineering with other strategies, including cell-based therapy, gene therapy, and immunomodulation, to induce tissue/organ regeneration in vivo. Cancer is among the leading causes of mortality worldwide, and the disease affects a huge population; therefore, it acts as a huge financial burden on society. According to the WHO, in 2018, ~9.6 million deaths occurred due to cancer globally. However, growing research on developing effective treatments for the disease are positively affecting the market growth. Gene therapy and cell therapy are transforming the cancer treatment landscape; for example, Novartis Kymriah is used in the treatment of diffuse large B-cell lymphoma. The launches of more such products would be driving the demand for cell and gene therapy, thus fueling the tissue engineering market in the coming years.
On the contrary, higher cost of treatment options involving tissue engineering.
Based on material type, the North America tissue engineering market is segment into biologically derived materials, synthetic materials, and others. The biologically derived materials segment held 52.6% market share in 2021, amassing US$ 3,281.37 million. It is projected to garner US$ 7,526.00 million by 2028 to expand at 12.6% CAGR during 2021–2028.
Based on application, the North America tissue engineering market is segmented into orthopedic, musculoskeletal, & spine, skin & integumentary, cardiology and vascular, neurology, cancer, gi, gynecology, urology, and others. The orthopedic, musculoskeletal, & spine segment held 34.2% market share in 2021, amassing US$ 2,137.56 million. It is projected to garner US$ 4,895.93 million by 2028 to expand at 12.6% CAGR during 2021–2028.
Based on country, the North America tissue engineering market has been segmented into US, Canada, and Mexico. Our regional analysis states that the US captured 62.4% market share in 2021. It was assessed at US$ 4,161.72 million in 2021 and is likely to hit US$ 9,662.53 million by 2028, exhibiting a CAGR of 12.8% during the forecast period.
Key players dominating the North America tissue engineering market are Zimmer Biomet; B. Braun Melsungen AG; Stryker Corporation; AbbVie, Inc.; Integra LifeSciences Holdings Corporation; Organogenesis Inc.; Medtronic; Baxter International Inc.; Johnson and Johnson Services, Inc.; 3M; and Cook Biotech Inc. among others.
- In July 2021 for PriMatrix Dermal Repair Scaffold to manage hard-to-heal diabetic foot ulcers (DFUs).
In April 2018, Medtronic plc announced it has received FDA approval of Infuse Bone Graft for new spine surgery indications.
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