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Global tissue engineering market led by Baxter International, Medtronic, and Stryker

Industry Sector

Healthcare and Medical

Published

21 January 2013

Author

Matt Bodimeade

Type of News

Market

The global tissue engineering market is to increase at a compound annual growth rate (CAGR) of 18% through to 2015, driven by the significant advancements in R&D and the increase in mergers and acquisitions.

Tissue engineering is the use of a combination of cells, engineering and materials methods, and suitable biochemical and physio-chemical factors to improve or replace biological functions. While it was once categorised as a sub-field of bio materials, having grown in scope and importance it can be considered as a field in its own right.

Powerful developments in the multidisciplinary field of tissue engineering have yielded a novel set of tissue replacement parts and implementation strategies. Scientific advances in biomaterials, stem cells, growth and differentiation factors, and biomimetic environments have created unique opportunities to fabricate tissues in the laboratory from combinations of engineered extracellular matrices ("scaffolds"), cells, and biologically active molecules.

This procedure's rising popularity as an alternative to tissue or organ transplantation has sparked off a spate of technology and product advancements in various segments of the market.

One such advancement is the availability of biomaterials that act as scaffolds for tissue repair and reconstruction, or for the deposition of engineered tissues and cells before implantation. In the biological component of tissue engineering, scientists have made rapid strides in identifying new cell types for use in tissue regeneration. These two developments together open numerous growth opportunities in the market.

Among the major challenges now facing tissue engineering is the need for more complex functionality, as well as both functional and biomechanical stability in laboratory-grown tissues destined for transplantation.

Despite extensive R&D efforts, the market has not witnessed a perfect product yet, giving ample scope for smaller companies to prove their mettle. The medical community has, for awhile, grappled with the issue of limited access to donors or donated tissue and organs on time.

Moreover, tissue engineering is becoming increasingly complicated, as the market is exploring the application of these products in various body parts. The lack of fundamental understanding of tissue regeneration mechanisms further slows down product development.

Key players currently dominating the tissue engineering market include Baxter International Inc., DePuy Inc., Medtronic Inc., Stryker Corp., and Zimmer Holdings Inc.

For more information on the global tissue engineering market, see the latest research: Global Tissue Engineering Market

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