Cardiac Tissue Engineering Market Size, Share & Trends

Updated on : September 24, 2024

Overview of the Cardiac Tissue Engineering Market

Cardiac Tissue Engineering market forecasted to transform from $621.2 million in 2024 to USD 1,333.6 million by 2029, driven by a CAGR of 16.5%. This growth is driven by increased demand for regenerative medicine, advancements in 3D bioprinting, and rising cardiovascular disease prevalence. Key drivers include substantial support from market leaders and government bodies, as evidenced by a USD 23.6 million fundraising campaign in Canada aimed at developing innovative heart disease treatments. However, high treatment costs pose a significant restraint, limiting accessibility and adoption. Opportunities for growth lie in the expanding stem cell research, which enhances cardiac tissue engineering's potential for developing effective therapies. Challenges include limited awareness among patients and healthcare professionals, hindering the integration of these advanced treatments. North America leads the market due to high healthcare spending and investment in medical research. Prominent players include Terumo Corporation, Artivion, Baxter International, and others, with notable recent developments such as REPROCELL's partnership with Cellco Labs and Artivion's acquisition of Ascyrus Medical.

Exciting Opportunities in the Cardiac Tissue Engineering Market

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Cardiac Tissue Engineering Market Dynamics

Driver: Increase in Support from Major Market Players and Government Bodies

The market for cardiac tissue engineering is expanding due in large part to the backing of government agencies and key industry participants. For instance, in Canada, a significant fundraising campaign of USD 23.6 million was unveiled in April 2023 with the goal of forming a global team at UHN's McEwen Stem Cell Institute to develop cutting-edge regenerative treatments for heart disease. Such significant funding is indicative of the sector's strategic investments, which support innovative research, cutting-edge commercialization of new treatments, and innovation. The development and clinical translation of new technologies require vital resources, which are provided by government grants and support from prominent market participants. These investments help businesses and research organizations become more capable and help them overcome financial and technical obstacles.

Restraint: High Treatment Cost

The cardiac tissue engineering market's expansion is severely hampered by high treatment costs. Advanced therapies in cardiac tissue engineering can entail complex clinical procedures, a great deal of research & development, and sophisticated technologies, all of which drive up costs. For patients, insurers, and healthcare providers, these prices are unaffordable, especially in areas with poorer socioeconomic standing or less financing for healthcare. The market is restricted to wealthy patients or well-funded healthcare systems due to the high cost of therapy. Additionally, insurers might be reluctant to pay for such pricey procedures, which would further limit patient access. The financial strain also affects the adoption rates by healthcare professionals, who may choose less sophisticated but more affordable treatment options. Consequently, the cardiac tissue engineering market's growth is being restrained.

Opportunity: Growing Demand for Stem Cell Research

Major potential for growth of the cardiac tissue engineering market is provided by the increasing demand for stem cell research. Because of their extraordinary capacity to differentiate into a wide range of cell types, stem cells are essential for creating novel treatments for heart disease. Developments in regenerative medicine are fueled by the growing emphasis on stem cell research, which makes cardiac tissue-created products more focused and successful. Leading scientists and universities collaborate and build state-of-the-art research facilities thanks to the significant funding attracted by this growing interest from the public and commercial sectors. Stem cell research is making ongoing discoveries and technological advancements that increase the likelihood of creating scalable, workable treatments for myocardial infarction and other cardiac disorders. As stem cell research develops, it offers cardiac tissue engineering a strong platform, allowing the development of more effective, secure, and customized treatments. As a result, by meeting unmet medical needs and enhancing patient outcomes, the industry is growing, and innovation in the field of cardiac tissue engineering is becoming more rapid.

Challenge: Limited Awareness

The lack of knowledge regarding cardiac tissue engineering is a serious obstacle to the market's expansion. Although it has the potential to completely change the way heart disease is treated, many patients and healthcare professionals are unaware of its advantages. The acceptance and incorporation of cardiac tissue-engineered products into routine medical practice are being hampered by this information gap. Reliance on conventional treatments results from healthcare providers' lack of knowledge or training to recommend these cutting-edge medicines. Patients may not seek out or support these novel solutions if they are not aware of the possible benefits, which will impact demand. Thus, a lack of knowledge about the potential & impact of cardiac tissue engineering is impeding market growth.

Cardiac Tissue Engineering Market Ecosystem

Prominent companies in this market are Terumo Corporation (Japan), Artivion, Inc. (US), Baxter International, Inc. (US), Teijin Limited (Japan), Medtronic plc (Ireland), Boston Scientific Corporation (US), Abbott Laboratories (US), Merck KGaA (Germany), Elutia (US), W. L. Gore & Associates, Inc. (US), Meril Lifesciences Pvt. Ltd. (India), FUJIFILM Holdings Corporation (Japan), Vascudyne, Inc. (US), BICO - THE BIO CONVERGENCE COMPANY (Sweden), REPROCELL, Inc. (Japan), PromoCell GmBH (Germany), Axol Bioscience Ltd. (UK), BPS Bioscience, Inc. (US), Cell Application, Inc. (US), Viscofan Group (Germany), Takara Bio, Inc (Japan), and Xeltis (Netherlands).

The stem cells segment accounted for the largest share in the cardiac tissue engineering market in 2023.

Based on material, the cardiac tissue engineering market is segmented into stem cells and scaffolds. In 2023, the stem cells segment held the largest share due to their exceptional capacity to distinguish and assimilate into cardiac tissue. The ability of stem cells, especially induced pluripotent stem cells (iPSCs), to differentiate into various cell types necessary for cardiac tissue repair and regeneration makes them extremely valuable. This ability facilitates the development of well-organized, functional cardiac tissues that blend in perfectly with the host heart, enhancing its general health and performance. Because they may be generated from a patient's own cells, iPSCs are regarded as the gold standard in tissue engineering due to the reduced danger of immunological rejection and ethical issues related to other stem cell sources. Their remarkable capacity for regeneration and flexibility renders them perfect for the creation of sophisticated therapeutic approaches aimed at treating myocardial infarction and other cardiac conditions. As a result, the stem cells segment dominates the cardiac tissue engineering market due to its important role in developing efficient, customized cardiac therapies.

The heart valves segment accounts for a significant share of the cardiac tissue engineering market.

Based on product, the heart valves segment accounts for a significant share in the cardiac tissue engineering market. This is because of recent developments in tissue-engineered heart valves and their important clinical significance. By offering a living, dynamic solution that can adapt and change with the patient, these valves present a possible substitute for conventional mechanical and bioprosthetic valves.

A complex three-dimensional framework that promotes cell growth, proliferation, and differentiation is needed to build a functional heart valve. This scaffold provides a tissue construct that can easily integrate with the patient's circulatory system. This feature overcomes the drawbacks of traditional valves, namely their short lifespan and the need for continuous anticoagulant medication. Tissue-engineered valves are in high demand because of their potential to lower problems, such as the need for lifelong anticoagulation therapy. The need for sophisticated valve replacements is further propelled by the aging population and the increasing incidence of valvular heart disorders. Collectively, these factors support the growth of the cardiac tissue engineering market's heart valve segment.

Academic & research institutes accounted for a significant share of the cardiac tissue engineering market.

By end user, the cardiac tissue engineering market is segmented into hospitals & clinics and academic & research institutes. The latter holds a significant share in the cardiac tissue engineering market because of the substantial research & development work conducted in this field. Prominent academic institutions carry out a significant amount of cutting-edge research, especially in the US, which is home to 4 of the world's 10 most renowned cardiac tissue engineering institutions. These top universities, like Harvard University, have researchers at the forefront of breakthroughs who are focusing on the creation of engineered three-layer scaffolds and 3D bioprinting. These cutting-edge research projects propel the development of novel treatment approaches and materials through the discovery and improvement of new methods and materials. The significant investment made in academic research facilities and the state of cooperation between universities and research institutes enhance the significance of their efforts.

North America accounted for the largest share of the cardiac tissue engineering market in 2023.

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Based on region, the cardiac tissue engineering market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2023, North America dominated the cardiac tissue engineering market, driven by high investment in advanced medical equipment and high healthcare spending. The Center for Medicare and Medicaid Services reported that in 2022, US healthcare spending increased by 4.1% to USD 4.5 trillion or USD 13,493 per person. This substantial investment, which represents 17.3% of the country's GDP, highlights the region's dedication to high-quality and innovative healthcare. The substantial financing enables in-depth study and advancements in cardiac tissue engineering, leading to the creation and application of state-of-the-art treatments. Furthermore, the high number of prestigious universities and research facilities in the US creates a climate favorable for scientific research.

Innovative cardiac tissue engineering solutions can be swiftly adopted and marketed due to the availability of advanced healthcare infrastructure and significant support from the public and private sectors. These factors are positioning North America at the forefront of the industry and propelling the market's growth in cardiac tissue engineering.

Prominent players in the cardiac tissue engineering market are Terumo Corporation (Japan), Artivion, Inc. (US), Baxter International, Inc. (US), Teijin Limited (Japan), Medtronic Plc (Ireland), Boston Scientific Corporation (US), Abbott Laboratories (US), Merck KGaA (Germany), Elutia Inc. (US), and W. L. Gore & Associates, Inc. (US). Cellular Logistics, Inc. (US), Mesoblast Ltd (US), Athersys Inc. (US), Neoolife Inc. (US), and Heartseed Inc. (Japan) are the startups in this market.

Overview of the Cardiac Tissue Engineering Market Report

The study categorizes the Cardiac Tissue Engineering Market based on product, application, heart valve, end user at regional and global level.

By Material

• Stem cells
• Scaffolds
  • Natural Scaffolds
  • Synthetic Scaffolds

By Product

• Vascular Grafts
• Patches
• Heart Valves

By Application

• Myocardial infarction
• Heart valve repair/ replacement
• Congenital Heart disease treatment
• Other applications

By End-User

• Hospitals and Clinics
• Academics & Research institutions
• Others

By region

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • Italy
  • Spain
  • France
  • RoE
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South korea
  • RoAPAC
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East and Africa
  • GCC Countries
  • Rest of Middle East and Africa

Recent Advances in the Cardiac Tissue Engineering Industry:

• In January 2024, REPROCELL Inc. (Japan) announced a partnership with Cellco Labs (Sweden) to globally distribute high-quality mesenchymal stem cells and mesenchymal stem cell derivatives manufactured by the latter for research and clinical applications.
• In July 2023, Vernal Biosciences (US) and Reprocell Inc (Japan) partnered to provide mRNA services in Japan for research and clinical applications.
• On 10 September 2020, Ascyrus Medical LLC (US) was acquired by Artivion Inc. (US). This acquisition strengthens Artivion's position in the cardiac tissue engineering market and broadens its range of cutting-edge products.

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