Tissue Engineering and Cell Therapy to Grow to Over $30 Billion Global Market
The market for tissue engineering and cell therapy products is set to grow from a respectable $9.9 billion in 2011 to nearly $32 billion by 2018. This figure includes bioengineered products that are themselves cells or are actively stimulating cell growth or regeneration, products that often represent a combination of biotechnology, medical device and pharmaceutical technologies. The largest segment in the overall market for regenerative medicine technologies and products comprises orthopedic applications.
The market for tissue engineering and cell therapy products is set to grow from a respectable $9.9 billion in 2011 to nearly $32 billion by 2018. This figure includes bioengineered products that are themselves cells or are actively stimulating cell growth or regeneration, products that often represent a combination of biotechnology, medical device and pharmaceutical technologies. The largest segment in the overall market for regenerative medicine technologies and products comprises orthopedic applications. Other key sectors are cardiac and vascular disease, neurological diseases, diabetes, inflammatory diseases and dental decay and injury.
The clinical applications with the most rapid growth in tissue engineering and cell therapy continues to be organ transplantation and related technologies. Over the 2009–2018 period, this segment is expected to grow by roughly 46%. This unusually explosive growth is expected due to: (1) the large demand for effective therapies for chronic diseases as those involving the pancreas (diabetes), liver and heart; and (2) development of regenerative technologies related to therapies for these diseases is among the most advanced among all gene and cell therapy-based developments.
Over the next few years, additional significant growth in cell/tissue technologies will be for treatment of dental decay and disease. The growth rate expected here is roughly 21%. Several technologies in this segment, such as bone and tissue grafts, are already being marketed, but rather but rather than hitting a plateau, growth in this segment expected to be sustained by an aging population that will result in an increase in the numbers of people who can benefit from these therapies.
Applications of regenerative medicine in cardiology and vascular medicine will also show rapid adoptions in clinical practice over the next decade. These include treatments of coronary artery disease, myocardial infarction, congestive heart failure, dysfunctional heart valves, peripheral vascular disorders, and abdominal aortic aneurysms. Growth in the adoption of these treatments, reflected in manufacturer revenues, will demonstrate compound annual growth rate of roughtly 20% from 2009 to 2018, is expected to result from commercialization of several innovative therapies that are expected to reach regulatory approval status.
Drawn from Report #S520, “Tissue Engineering, Cell Therapy and Transplantation: Products, Technologies & Market Opportunities, Worldwide, 2009-2018.” MedMarket Diligence, LLC.
