Market Trends of Global Tissue Engineering Industry
This section covers the major market trends shaping the Tissue Engineering Market according to our research experts:
Orthopedic Segment is Expected to Show the Fastest Growth During the Forecast Period
Bone tissue engineering is concerned with creating implantable bone substitutes for critical skeletal defects that cannot heal on their own. These defects are common clinical scenarios in orthopedics surgeries for the treatment of bone loss due to trauma, infection, and tumor resection. Moreover, tissue engineering has become a vital option for orthopedic surgeons in the treatment of a variety of musculoskeletal lesions, ranging from osteochondral defects in the glenohumeral joint to meniscal deficiency in young athletes. According to the study titled 'The global prevalence of rheumatoid arthritis: a meta-analysis based on a systematic review' published in the Rheumatology International in May 2021, between 1980 and 2019, there were 460 cases of rheumatoid arthritis per 100,000 people worldwide. Thus, the growing prevalence of orthopedic diseases supports the segment growth.
Segment expansion is anticipated to be aided by the fact that market participants often launch new products and employ a range of growth strategies in their specific segments. For instance, in March 2021, Sparta Biopharma Inc., a privately-held company, launched BioEnthesisTM, the allograft that has both mineralized and demineralized layers, which provide the requisite properties for healing and repair within the rotator cuff. Similarly, in November 2020, AlloSource presented positive results for a 12-month follow-up in its five-year study titled " A Prospective, Multi-Center Study Evaluating ProChondrix CR for the Repair of Focal Articular Cartilage Defects in the Knee" looking at the long-term outcomes of ProChondrix CR, a cryopreserved osteochondral allograft in the knee.
Thus, the rising burden of orthopedic disorders, along with frequent product launches in the respective segment, is expected to drive the segment growth significantly during the forecast period.
North America to Dominate the Market During the Forecast Period
The United States market growth is majorly driven by factors, such as the increasing incidence of chronic diseases, road accidents, and trauma Injuries, technological advancements in 3D tissue engineering, and the presence of key market players. According to the Centers for Disease Control and Prevention (CDC) updated in October 2021, compared to the 58.5 million individuals with arthritis in 2013-2015, it is predicted that by 2040, 78.4 million adults aged 18 and older (or 25.9% of the anticipated total adult population) are likely to be diagnosed with the condition. Furthermore, according to America's Health Rankings Senior Report published in 2021, the number of older adults living in the United States is significant and growing; by 2050, it is anticipated that there will be 85.7 million adults in the country who are 65 or older. Such a high prevalence of this disease along with the aging population is likely to increase the adoption of therapies for this, driving the market growth and the aging population which supports the market expansion.
The growing product launches by the market players support the market growth For instance, in September 2020, Histogen Inc., a clinical-stage therapeutics company, was awarded a USD 2 million grant by the Peer Reviewed Orthopedic Research Program (PRORP) of the United States Department of Defense (DoD) to help fund a Phase 1/2 clinical trial of HST-003 for regeneration of cartilage in the knee. Furthermore, in July 2020, Amnio Technology also received approval from the United States Food and Drug Administration to proceed phase II clinical trial for Pallingen Flow, an amniotic tissue allograft. Additionally, in January 2021, Direct Biologics LLC launched AmnioWrap placental-based sheet allografts for clinical use. AmnioWrap is a unique, tri-layer graft intended for applications in acute and chronic wounds.
As a result, the region is expected to experience exponential growth due to the presence of market-propelling factors.
