PUBLISHER: The Insight Partners | PRODUCT CODE: 1119008
PUBLISHER: The Insight Partners | PRODUCT CODE: 1119008
The tissue engineering market in Europe is expected to grow from US$ 3,859.49 million in 2021 to US$ 8,520.70 million by 2028; it is estimated to grow at a CAGR of 12.0% from 2021 to 2028.
The rising incidence of chronic diseases and increasing number of trauma injuries and road accidents drive the demand for advanced treatment procedures, including tissue engineering. Road accidents are among the major fatalities worldwide as they cause serious injuries to bones and organs. As per the World Health Organization (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; surging population of elderly people; and rising number of trauma cases. A spinal cord injury (SCI) can cause damage to the spinal cord that temporarily or permanently changes its function. Globally, the mean prevalence of traumatic and nontraumatic 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 across the world suffer from traumatic SCI, and ~180,000 new cases are 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 are required. 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 cancer treatments fuel 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 rising number of launches of such products would be drive the demand for cell and gene therapies, which is expected to propel the tissue engineering market in the coming years.
With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe tissue engineering market at a substantial CAGR during the forecast period.
Europe Tissue Engineering Market Revenue and Forecast to 2028 (US$ Million)
Europe Tissue Engineering Market Segmentation
The Europe tissue engineering market is segmented on the basis of material type, application, and country. Based on material type, the market is segmented into biologically derived materials, synthetic materials, and others. In 2021, the biologically derived materials segment held a larger share of the market; and Synthetic Materials is expected to register a higher CAGR during the forecast period. Based on application, the market is categorised into orthopedic, musculoskeletal, & spine, skin & integumentary, cardiology and vascular, neurology, cancer, gi, gynecology, urology, and others. In 2021, the orthopedic, musculoskeletal, & spine segment held the largest market share; and skin & integumentary is expected to register the highest CAGR in the market during the forecast period. Based on country, the Europe tissue engineering market is segmented into Germany, the UK, France, Italy, Spain, and Rest of Europe. In 2021, Germany held the largest market share; and it is also expected to grow at the fastest CAGR during the forecast period.
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. are among the leading companies in the Europe tissue engineering market.