The global tissue engineered skin substitute market is anticipated to have a value of US$ 2.4 billion by 2024. By 2034, the market is expected to grow to US$ 3.5 billion. The market is anticipated to grow at a compound annual growth rate (CAGR) of 3.9% from 2024 to 2034.
The main factors anticipated to propel the growth of the tissue engineered skin substitute market are the rising demand for minimally invasive surgeries, the aging population, the rise in diabetic foot ulcers, the rise in vascular diseases and burn injuries, the improvements in healthcare infrastructure, and the increased government investment.
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More biomimetic tissue structures have been developed as a result of tissue engineering and the enhanced capacity to integrate biomaterials and cell culture systems with contemporary manufacturing techniques. Improvements in technology are paving the way for better skin substitutes made of tissue. Intriguing biofabrication methods for the creation of bioengineered skin substitutes are biotextiles and 3D bioprinting. A US research team has created a method that makes it possible to print whole blood vessels and skin in three dimensions. Such state-of-the-art fabrication techniques will open up a substantial market opportunity worldwide.
Though significant advancements have contributed to the expansion of the market, certain limitations still exist. The inability of tissue-created skin substitutes to grow skin appendages like hair follicles, sebaceous glands, and nails is one of the biggest challenges facing R&D teams.
Key Takeaways – Tissue Engineered Skin Substitute Market Study
- Demand for biologic skin substitutes is expected to rise during the forecast period due to increased tissue engineering research. Engineers from Caltech and ETH Zurich, for example, developed an artificial skin out of pectin, a naturally occurring long-chain polymer found in plant cell walls that allows the production of natural and fresh dermis.
- Diabetes and chronic wounds are growing increasingly widespread, resulting in an increase in demand for tissue engineered skin substitutes.
- The incidence of diabetic foot ulcers, venous leg ulcers, and pressure ulcers is expected to drive demand for tissue engineered skin substitutes in developing nations such as China and India.
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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.
Key Players:
- Smith & Nephew plc.
- Acelity L.P. Inc.
- Mölnlycke Health Care
- Integra Life Sciences
- Allergan plc
- Regenicin
- Organogenesis Inc.
- MiMedx
- LifeNet Health
- Kerecis
- Medline Industries, Inc.
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Tissue engineered skin substitute market, a new study from Future Market Insights, opines on the evolution of tissue engineered substitute market from 2014 to 2021 and presents demand projections from 2022 to 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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Tissue Engineered Skin Substitute Market by Category
By Product:
- Acellular Skin Substitutes
- Acellular skin substitutes based on Amniotic Membrane
- Other Acellular skin substitutes
- Biologic Skin Substitute
- Allograft
- Xenograft
- Cellular Skin Substitutes
- Cellular skin substitute based on amniotic membrane
- Other cellular skin substitutes
- Synthetic Skin Substitutes
By Material:
- Synthetic
- Natural
By Application:
- Chronic Wounds
- Venous leg Ulcers
- Diabetic Foot Ulcer
- Pressure Ulcers
- Acute Wounds
- Traumatic Wounds
- Burn Cases
- Other Applications
By End User:
- Hospital
- Specialty Clinics
- Ambulatory Surgical Centers
- Research Laboratory
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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