The global market for tissue-regenerative products could enjoy a growth rate of 16 percent a year through 2013, when it might be worth more than $118 billion, according to market research firm Life Science Intelligence.
According to the group’s Worldwide Markets and Emerging Technologies for Tissue Engineering and Regenerative Medicine, the global tissue engineering and regenerative medicine market was worth about $1.5 billion last year. If it grows at a 16 percent clip, the market should reach $1.7 billion this year and top $2 billion in 2010.
Companies developing tissue-regenerative products aimed at the neurologic, orthopaedic, organ regeneration, cardiovascular, urologic and wound care markets are particularly well-positioned for rapid growth, according to the report.
Those companies should also consider exports; though the United States accounted for 90 percent of the worldwide market in 2008, markets in Europe, Japan and elsewhere are forecast to grow at significantly higher rates compared to the U.S.