The global tissue engineering market is set to grow at a compound annual growth rate of 17.22 percent through 2022, according to a Market Research Future report.
Here are eight observations:
1. Within the market, the neurology segment is one of the fastest growing due to research and development activity as well as the increasing prevalence of nervous system disorders.
2. The Americas lead the global market, with North America experiencing advancements in regeneration surgeries and stem cell research.
3. Europe comes in second, with growing R&D as well as government backing for life sciences.
4. The Asia-Pacific region is anticipated to have the fastest growing market at a 15.24 percent CAGR, due to better economic healthcare conditions and government support for R&D in healthcare.
5. The Middle East and Africa region will not see as hefty growth because of a dearth of healthcare resources and advanced medical facilities.
6. 3-D technology is boosting the market, providing improved organ and tissue printing techniques.
7. The nano-fibrous material segment will likely capture the largest market share in 2022 at $13.3 billion.
8. Major market players include Cook, Acelity, Baxter, DePuy Synthes, Medtronic, Zimmer Biomet and Stryker.