Tissue Engineered Skin Market Set for 9% CAGR Growth by 2029
Rapid expansion of wound management space has argued well for the growth in demand for tissue engineered skin substitutes. The global tissue engineered skin substitute market is projected for a robust 9% CAGR during 2019 – 2029, predominantly driven by high applicability in diabetic foot ulcers and other chronic wounds.
With advent of tissue engineering and improved ability to combine advanced manufacturing technologies with biomaterials and cell culture systems, more biomimetic tissue constructs have been emerged. Technological advancements are leading to production of advanced tissue engineered skin substitutes. 3D bioprinting and biotextile are emerging as popular biofabrication strategies for creating bioengineered skin substitutes. A team of researchers in the U.S. recently discovered a technology for complete 3D printing of the living skin along with blood vessels. Emergence of such revolutionary fabrication technologies will create a massive opportunity in the global market.
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Key Takeaways – Tissue Engineered Skin Substitute Market Study
- With increasing researches in tissue engineering, the demand for biologic skin substitute is expected to increase in the forecast period. For instance, a team of engineers at the California Institute of Technology (Caltech) and ETH Zurich have developed an artificial skin made from pectin, a naturally occurring long-chain molecule present in plant cell walls allowing the construction of natural and new dermis.
- Increasing prevalence of diabetes and chronic wounds is boosting the demand for tissue engineered skin substitutes.
- The demand for tissue engineered skin substitutes in emerging economies such as China and India is expected to increase owing to increasing incidence of diabetic foot ulcers, venous leg ulcers, and pressure ulcers.
Leading Manufacturers Setting the Pace for Product Innovations
The tissue engineered skin substitute market is a consolidated market. The tier 1 companies in the tissue engineered skin substitute market such as Allergan Plc., Mimedex Group Inc., Integra LifeSciences Corp. and Integra LifeSciences Corp. are expected to hold more than half of the total revenue generated by tissue engineered skin substitutes. The key players in the market are reshaping their current product portfolio by focusing on the introduction of new and advanced technologies and innovating new products.
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Seeking More Insights?
Tissue engineered skin substitute market, a new study from Future Market Insights, opines on the evolution of tissue engineered substitute market from 2014 – 2018 and presents demand projections from 2019 – 2029 on the basis of; product (acellular skin substitute, biologic skin substitute, cellular skin substitute and synthetic substitute), material (synthetic and natural), application (chronic wound, acute wound and other applications such as breast reconstruction etc.) and end user (hospital, specialty clinics, ambulatory surgical centres and research laboratories) across seven prominent regions.
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