The Global Tissue Engineering Market, by Material Type (Synthetic, Biological, and Others), by Application (Dermal, Orthopedic, Dental, Neurology, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 5.5 billion in 2017, and is projected to exhibit a CAGR of 11.5% over the forecast period (2018 - 2026).
Various diseases, injury, and trauma can lead to degeneration and damage of tissues in the human body, which necessitates treatments to enable repair, replacement or regeneration of damaged tissue. The treatment normally focuses on transplanting tissue from one site to another in the same patient (an autograft) or from one individual to another (a transplant or allograft). Tissue engineering is an inter-disciplinarily research area, which has wider applications in repair of organs, regeneration, and tissue transplantation. The technology uses synthetic or naturally derived, engineered biomaterials to replace defective or damaged tissues, such as bone, skin, and organs. Key manufacturers in the tissue engineering market are focused on mergers and acquisitions, and partnerships with smaller companies. For instance, in 2017, FUJIFILM Corporation invested US$ 3.7 million in the regenerative medicine venture company NC Medical Research, Inc. with NC Medical granting Fujifilm a stock allocation. Rapid advances in stem cell research with a focus on therapeutic potential for regenerative medicine and other biomedical applications are expected to drive market growth. In combination with tissue engineering, stem cells exhibit growth opportunities in further advancing modern medicine. Although much progress has been made in the field of tissue engineering, further research regarding organ and tissue replacement is necessary. The optimal cell source, scaffold design, and in vitro bioreactors, the use and development of microfabrication technology to create vascularized tissues and organs are still being investigated.
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