Key players have deduced the latest advancements in the wound management space to be the prominent factor in expansion of the tissue engineered skin substitute market.
DUBAI, UAE / ACCESSWIRE / February 11, 2021 / Future Market Insights, Dubai: FMI states that the global tissue engineered skin substitute market will showcase a 9% CAGR through the period of 2021-2029. The technology has applications in the common chronic wounds like diabetic foot ulcers which is the major driving factor for the growth of the market.
“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.” says the FMI analyst.
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Tissue Engineered Skin Substitute Market – Key Takeaways
- The increase in frequency of chronic wounds like diabetic foot ulcers and pressure ulcers lead to the expansion of the market in countries like China and India.
- Due to the increase in research and development in tissue engineering the market for skin substitutes will project a growth in the forecasted period.
- Developers at the California Institute of Technology (Caltech) and ETH Zurich are using a plant-based molecule called pectin to engineer artificial skin cells capable of generating new and natural dermis.
- Researchers have developed new strategies for skin synthesis like 3D Bioprinting and Biotextile.
Tissue Engineered Skin Substitute Market – Drivers
- The application of artificial skin substitutes in chronic wounds and diabetic ulcers prove to be the key factor in driving the growth and expansion of the market.
- The latest technological advancements in biomaterials and cell culture systems have led to the emergence of efficient artificial skin constructs.
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Tissue Engineered Skin Substitute Market – Constraints
- The tissue engineered skin substitutes are unable to promote the growth and development of hair follicles, different glands and nails. This poses a challenge to the researchers and acts as the key constraint to the skin substitute market.
- The biofabrication technology tools employed by the developers to construct synthetic skin tissues are not cost-efficient and thereby limits the volume of the market to the selected few who can afford the treatment.
The key players in the tissue engineered skin substitute market are focusing on technological advancement and innovation to provide efficient products to the consumers and gain a competitive edge over other players.
The companies holding the majority of the market in terms of revenue and products include Allergan Plc., Mimedex Group Inc. and Integra Life Sciences Corp. They are thriving to provide a convenient and flawless approach to the skin substitute market to enable patients a speedy recovery without any harmful consequences. They have engineered various products through their think tank and are dedicated towards the research and development to obtain greater results in the field.
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About the Study
The study offers a comprehensive assessment and evaluation of the tissue engineered skin substitute market. This FMI report covers global, regional, and national-level analysis of the latest trends influencing the market. The study provides detailed insights based on the product (acellular and cellular skin substitutes, biologic skin substitute and synthetic substitute), material (synthetic and natural), application (chronic wound, acute wound,breast reconstruction etc.) and final consumer (hospital, specialty clinics and research laboratories) across prominent regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).
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Table Of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Technological Developments
4. Key Success Factors
4.1. Reimbursement Scenario
4.2. Regulatory Scenario
4.3. Pipelined Products
4.4. Disease Epidemiology
4.5. Product Characterization
5. Global Tissue Engineered Skin Substitute Market – Pricing Analysis
5.1. Regional Pricing Analysis By Product
5.2. Global Average Pricing Analysis Benchmark
6. Global Tissue Engineered Skin Substitute Market Analysis 2014-2018 and Forecast, 2019-2029
6.1. Historical Market Value (US$ Mn) Analysis, 2014-2018
6.2. Current and Future Market Value (US$ Mn) Projections, 2019-2029
6.2.1. Y-o-Y Growth Trend Analysis
6.2.2. Absolute $ Opportunity Analysis
7. Market Background
7.1. Macro-Economic Factors
7.1.1. Global GDP Growth Outlook
7.1.2. Global Healthcare Expenditure Outlook
7.1.3. High Disposable Income
7.1.4. Reference Pricing
7.1.5. Healthy Economic Growth In Emerging Countries
7.2. Forecast Factors – Relevance & Impact
7.2.1. Increasing Prevalence of Chronic Wound
7.2.2. Rise in Burn Cases
7.2.3. Product Approval
1.1.1. Extensive Network of End Users
1.1.2. Distribution Channel
7.3. Market Dynamics
7.3.3. Opportunity Analysis
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About Future Market Insights
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centres in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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