Tissue Engineering Market is Set to Growth at a CAGR of 13% Upcoming Years

Pune, India, May 2019, MRFR Press Release/- Market Research Future has Published a Cooked Research Report on the Global Tissue Engineering Market.

Market Highlights

The Tissue Engineering Market  is expected to reach USD 3.3 Billion by 2032 at 13% CAGR during the forecast period 2023 -2032

The nano-fibrous material segment dominated the global tissue engineering market, by material, and is projected to reach USD 16,235.5 Million by 2024 owing to the cost-effectiveness of the product; moreover. However, the biomimetic material segment is projected to be the fastest-growing segment during the forecast period.

North America dominated the market, accounting for the largest share of the market in 2018, and the regional market is expected to register a CAGR of 17.17% during the review period. The European market was the second largest in 2018. The market is projected to reach USD 16,514.6 million by the end of 2024.   

Segment Analysis

The global tissue engineering market has been segmented based on material, application, and region. On the basis of material, the market has been divided into nano-fibrous material, biomimetic material, composite material. The nano-fibrous material segment held the majority market share in 2018. However, the biomimetic material segment is anticipated to be the fastest-growing, followed by the composite material segment.

On the basis of application, the market has been divided into orthopedics, musculoskeletal and spine, cancer, skin/integumentary, dental, cardiology, urology, neurology, cord blood & cell banking, GI & gynecology. The orthopedics, musculoskeletal and spine segment accounted for the larger market share in 2018. However, the cancer segment is expected to exhibit higher CAGR during the forecast period.

Explore In-depth Market Details [Table of Content, List of Figures, List of Tables] of Tissue Engineering Market Research Report

Market Players

Market Research Future (MRFR) recognizes Stryker (US), Allergan (US), Medtronic (Ireland), Zimmer (US), Baxter International (US), Integra Life Sciences (US), Organovo Holdings Inc (US), Cook Medical (US), DePuy Synthes (US), Acelity (US) as the key players in the Global Tissue Engineering Market.

Regional Analysis

Geographically, the global tissue engineering market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. As per MRFR analysis, North America was the largest market for tissue engineering in 2018 and is expected to remain dominant during the review period. Europe accounted for a significant market share and is projected to be the second-largest market during the forecast period. The rising prevalence of chronic diseases is a major driving factor for the growth of the tissue engineering market in Europe.

Key Findings of the Study:

• The Global Tissue Engineering Market is projected to reach over USD 53,424.00 million by 2024 at a 84% CAGR during the review period of 2019 to 2024.

• North America accounted for the largest market share.

• The nano-fibrous material segment is projected to register the highest CAGR of 18.08% during the forecast period.

• Key manufacturers are adopting geographic expansions, corporate acquisitions, and product launches as growth strategies. Moreover, they are focusing on e-commerce for distribution.