Tissue engineering and organ regeneration market encompasses those products used in medicine. The application of these new age biomaterials include burn treatment or wound care, orthopaedics, urological products, and neurology products. Engineered cell growth has been present over the past many years with little or no applications in medicine. Recent developments and progress in the field of stem cell technology, cell culture technology and immunopassivation and immunomodulation has provided incredible opportunities to market players. Several cardiovascular applications such as heart valve and myocardial tissue regeneration is also expected to provide excellent sustainability for the growth of the market. Rising cost of organ transplantation, long waiting lines and rising medical applications of 3D printing in tissue and organ regeneration will be the major growth drivers for this market in the near future.
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An estimated 10 million cosmetic and reconstructive procedures are performed over the world for cases of accidents, birth defects, burns and other mishaps. The increasing use of tissue engineering and organ regeneration will reduce the use of metals and alloys in the body that are in most cases toxic and have a very high rejection. Wound care will continue to be a major growth driver for this market along with orthopedics. Largest demands for organ transplants include kidney, liver and heart which if processed from the same individual will provide considerable less cost with reduced rejection rates. Dental and neurologic applications are also expected to create demand in the coming years. International activities such as competitions have encouraged the research and development initiatives over the world. In 2013, Methuselah Foundation which is a medical charity announced a million dollar New Organ Liver award to competitors for development over a five-year international competition to advance the field of tissue engineering and regenerative medicine.
Some of the market players in this industry segment include Integra LifeSciences, CryoLife, Cook Biotech, LifeCell/ Kinetic Concepts, StemCellsInc, Tengion, Osiris Therapeutics, NuVasive, Genzyme/Sanofi, Cytori Therapeutics, BioMemetic Therapeutics and AastromBioSciences among several others. With an estimated global value of around USD 3.5 billion, analysts predict that the market has currently reached only a fraction of its true potential and is expected to grow considerably in the future.