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BCC Research 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 $56.9 billion by 2019, with a five-year compound annual growth rate (CAGR) of 22.3%. Stem cell technologies represent the largest and fastest-growing category with a significant CAGR of 26.2%.

Tissue engineering provides regenerative solutions to biological functions, including the repair or replacement of organ or tissues. Driven by technological advances and increasing R&D spending, this market is segmented into synthetic, genetically modified and biological materials, all offering significant and distinct market opportunities.

The stem cell technology category, which currently dominates the overall market, can be used to develop engineered implants and bio-hybrid organs that replace tissue functions. Some of the most promising products in this category are heart arteries, engineered bladders and other internal organs, and ligaments. Revenues in the stem cell technologies segment are expected to reach $24.8 billion by 2019.

Meanwhile, the immunomodulation category, the second-fastest growing market segment, is expected to reach nearly $13.6 billion by 2019 and register a healthy 23% CAGR. A therapeutic intervention that modifies immune responses, immunomodulation plays a significant role in preventing infection in case of immunodeficiency during organ transplantation or tissue engineering. This technology has chiefly helped in providing protection against some cancers as well as the spread of autoimmune diseases caused during organ transplantation or tissue engineering.

"Growth in the tissue engineering and regeneration market is hampered due to stiff regulations, lack of awareness, and lack of adoption," says BCC Research healthcare analyst Yojana Jeevane. "And while the advancement in stem cell technologies has created a novel platform for regenerative medicines, it also has given rise to ethical issues. These ethical conflicts are putting pressure on the government to regulate the commercialization of tissue repair and regeneration."

In regional terms, the tissue engineering and regeneration market is expanding in developed economies such as the United States and Europe. North America is the largest market and is expected to reach $22.8 billion in 2019. The Asia-Pacific region, which was valued at just $2.3 billion in 2013, is anticipated to jump to nearly $9.8 billion by 2019.

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