NEWARK, Del, April 08, 2024 (GLOBE NEWSWIRE) -- The tissue engineered skin substitute market is expected to reach a value of US$ 2.4 billion in 2024, with projections indicating a growth to US$ 3.5 billion by 2034. The market is anticipated to experience a steady surge at a CAGR of 3.9%, during the forecast period 2024 to 2034.
There is a growing preference for non-animal and ethically sourced materials in tissue engineering and regenerative medicine. Manufacturers are exploring alternative sources of biomaterials, such as plant derived polymers and synthetic peptides, to develop sustainable and cruelty free tissue engineered skin substitutes.
Stem cell-based approaches are increasingly being integrated into tissue engineered skin substitutes to enhance tissue regeneration and accelerate wound healing processes. Stem cells possess unique regenerative properties and can differentiate into various cell types, making them valuable components in tissue engineering strategies.
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The shift towards patient centric care models emphasizes the importance of patient satisfaction, comfort, and quality of life. Tissue engineered skin substitutes that promote rapid wound healing, minimize scarring, and improve aesthetic outcomes align with the goals of patient centered care and contribute to overall treatment satisfaction.
AI and machine learning algorithms are increasingly being applied in the development and optimization of tissue engineered skin substitutes. The technologies enable data driven decision making, predictive modeling of wound healing outcomes, and optimization of product design parameters, thereby enhancing the efficacy and commercial viability of tissue engineered products.
Key Takeaways from the Tissue Engineered Skin Substitute Market Study
- Global tissue engineered skin substitute market was valued at US$ 2,345.7 million in 2023.
- From 2019 to 2023, the market demand expanded at a CAGR of 7.4%.
- The market in Germany is expected to expand at a CAGR of 1.9% through 2034.
- By product, the biologic skin substitute segment to account for a share of 49.0% in 2024.
- The market in India is expected to expand at a CAGR of 5.8% through 2034.
- In terms of application, the chromic wounds segment to account for a share of 70.0% in 2024.
“3D bioprinting technology enables the precise fabrication of complex tissue structures with cellular components. The adoption of 3D bioprinting in tissue engineering holds promise for the rapid production of customized skin substitutes with enhanced biological properties and tissue architecture,” remarks Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
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Competitive Landscape from the Tissue Engineered Skin Substitute Market
Prominent players in the tissue engineered skin substitute market are Smith & Nephew plc, Acelity L.P. Inc., Mölnlycke Health Care, Integra Life Sciences, Allergan plc, Regenicin, Organogenesis Inc., MiMedx, LifeNet Health, Kerecis, and Medline Industries Inc., among others.
Company Portfolio
- Smith & Nephew plc is a global medical technology company specializing in advanced wound care, orthopedics, and sports medicine. Their portfolio includes tissue engineered skin substitutes designed to address the needs of patients with acute and chronic wounds. The tissue engineered skin substitutes of the company are available in various formulations and configurations to suit different wound types and clinical indications.
- Mölnlycke Health Care AB is a global medical solutions company specializing in wound care, surgical solutions, and infection prevention. Their portfolio includes tissue engineered skin substitutes that are designed to support wound healing and tissue regeneration in patients with acute and chronic wounds.
Key Companies in the Tissue Engineered Skin Substitute Market:
- 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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Segmentation Analysis of the Tissue Engineered Skin Substitute Market
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
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and Africa
About the Healthcare Division at Future Market Insights
The healthcare domain at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 Million+ data points, the team has been analyzing the market lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
Authored By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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