Asia Pacific Tissue Engineering Market Growth and Forecast by 2027

The Asia Pacific Tissue engineering market is expected to reach US$ 4,336.92 million by 2027 from US$ 1,538.97 million in 2019; it is estimated to grow at a CAGR of 14.1% from 2020 to 2027.

Tissue engineering is a procedure used as a blend of material methods and cellular activities. This approach explores the physicochemical and biochemical conditions to replace the biological tissues and strengthen them. It is an innovative technology that works either in isolation or in conjunction with the scaffolds, stem cells, regenerative medicine and growth factors or negotiators. The process utilizes molecular and cellular processes in combination with the principles of material engineering to surgically repair and restore tissue.

The rising incidence of chronic diseases as well as number of trauma injuries and road accidents are prime factors contributing to the growth of the market for advanced treatment procedures, such as tissue engineering. For instance, according to the World Health Organization report in 2013, Asia Pacific region reported around 153,000 fatalities due to road accidents or around 400 deaths each day. It also stated that road traffic death rate in South-East Asia region was 17.0 per 100,000 population, compared to the global rate of 17.4, where there was considerable variation seen within the region ranging from 3.5 in the Maldives to 36.2 in Thailand in 2015. Tissue engineering provide alternative option to surgical reconstruction and transplantation in order to repair damaged tissues. The Asia Pacific tissue engineering market is primarily driven by a continued demand for successful regenerative therapies to treat rising cases of diabetes, obesity, and other chronic disorders caused by lifestyle changes; growing elderly population base; and increasing number of trauma injury cases.

Stryker Corporation, Organogenesis Inc., Cook Biotech Inc., Integra Life Sciences Corporation are among the major companies in Tissue engineering technology and material. In the Asia, due to an increasing number of COVID 19 infected patients, healthcare professionals and leading organizations are distracting the flow of healthcare resources from research & development to primary care, which is slowing down the process of innovation. Further, the COVID-19 pandemic spread is also hindering the conduct of clinical trials and drug development, and operations of diagnostic industry in the APAC region. For instance, Stryker Corporation, a well-known player in the tissue engineering industry, has diverted operations to manufacture COVID-19 diagnostics and PPE kits. Moreover, according to a recent survey by Medscape in July 2020, substantial disruption has been witnessed in routine research activities that includes tissue engineering and regenerative medicines as a result of the COVID-19 pandemic. The rapid increase in the number of the infected patients in the China and India is likely to result in the slowdown of the market growth in the near future.

China Tissue engineering Market, Revenue and Forecast to 2027 (US$ Mn)

ASIA PACIFICTISSUE ENGINEERING MARKET SEGMENTATION

ASIA PACIFIC TISSUE ENGINEERING MARKET SEGMENTATION

By Material Type

• Biologically Derived Material
• Synthetic Material
• Others

By Application

• Orthopedic, Musculoskeletal and Spine
• Skin

• Cardiology and Vascular
• Neurology
• Others

By Country

• Japan
• China
• India
• South Korea
• Australia

Company Profiles

• Stryker Corporation
• Organogenesis Inc.        
• Cook Biotech Inc.
• Integra Life Sciences Corporation
• Acelity L.P.Inc     
• Allergan Plc.       
• Medtronic
• Zimmer Biomet
• Baxter International Inc.
• DePuy Synthes (Johnson & Johnson Services, Inc.)

Asia Pacific Tissue Engineering Report Scope