Tissue engineering is method used to develop, replace or improve damaged tissues by using synthetic, natural, or semisynthetic tissues. Muscle biopsy or bone marrow is done to derive these tissue cells from patients.
A major factor driving growth of the global tissue engineering market are increasing incidences of trauma injuries, cancer, etc. across the globe. High treatment cost is a major factor hampering growth of the global tissue engineering market. Use of nanotechnology and 3D tissue engineering for tissue regeneration is expected to create potential opportunities for major players in the global market over the forecast period.
The global market is segmented on the basis of type, application, and region. On the basis of type, the global market is segmented into synthetic materials, biologically derived materials, and others. The biologically derived materials segmented is expected to witness fastest growth over the forecast period.
On the basis of application, the global market is segmented into cord blood & cell banking, cancer, GI & gynecology, dental, skin/integumentary, urology, orthopedics, musculoskeletal and spine, neurology, and cardiology & vascular. The cardiology and vascular segment is expected to witness highest growth in terms of revenue in the global market over the forecast period.
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On the basis of region, the global market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America accounts for highest market share in the global tissue engineering market and is expected to maintain its position over the forecast period. The Asia Pacific tissue engineering market is expected to witness fastest growth in terms of revenue in the global market.
Key players in the global market are Stryker Corporation, Medtronic, Inc., C. R. BARD, Organogenesis, Inc., Zimmer Biomet, BIOTIME INC., Acelity, Athersys, Inc., Tissue Regenix Group Plc, BIO TISSUE TECHNOLOGIES, RTI surgical, Inc., and other prominent players