Global Market for Tissue Engineering and Regeneration to Reach $56.9 Billion in 2019
(PRWEB) September 26, 2014
BCC Research (http://www.bccresearch.com) reveals in its new report, TISSUE ENGINEERING AND REGENERATION: TECHNOLOGIES AND GLOBAL MARKETS, the global market for tissue engineering and regeneration is expected to grow to nearly $56.9 billion, registering a compound annual growth rate (CAGR) of 22.3% from 2014 to 2019. The North American and European markets are witnessing the highest growth, expanding from $9 billion and $8.3 billion in 2014 to $22.8 billion and $22.3 billion in 2019 with five-year CAGRs of 20.5% and 22%, respectively.
The global stem cell technology market in tissue engineering was valued at $6.3 billion in 2013 and is expected to be the fastest-growing market, with a CAGR of 26.2%. The cell culture technology market was the highest revenue-generating market, accounting for $6.8 billion in 2013 and is growing at a CAGR of 17.7% from 2014 through 2019.
The industry is growing in developed economies such as North America and Europe. Frequent initiatives taken by the players operating in tissue engineering are spurring the market. Favorable government policies for conducting clinical trials and research are also contributing to the growth. On the other hand, developing economies are facing challenges due to stringent government regulations and poor responses from society due to certain ethical issues. The tissue engineering market in the Asia-Pacific region was valued at $2.2 billion in 2013, and is anticipated to grow at a CAGR of 28% from 2014 to 2019.
“The global tissue engineering and regeneration market is segmented by technology, material, application and region,” says BCC Research healthcare analyst Yojana Jeevane. “The market is ruled by stem cell technologies and cell culture technologies. The cell culture technologies have a better adoption rate than others, but stem cell technologies have the greatest potential for growth within the tissue engineering and regeneration market.”
TISSUE ENGINEERING AND REGENERATION: TECHNOLOGIES AND GLOBAL MARKETS provides an in-depth analysis of the global tissue engineering and regeneration market by technologies, materials, applications segments and regional markets. It also includes key technologies involved in stem cell therapies and cell therapies.
Editors and reporters who wish to speak with the analyst should contact Steven Cumming at steven.cumming(at)bccresearch(dot)com.
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