Tissue Engineered Skin Substitute Market Expectations & Growth Trends Highlighted Until 2029

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.

TISSUE ENGINEERED SKIN SUBSTITUTE MARKET STRUCTURE ANALYSIS

  • The worldwide tissue engineered skin substitute market is a fairly competitive. Allergan Plc., MiMedx Group Inc., Integra LifeSciences Corp. and Smith & Nephew Plc. are the key players contributing to the maximum market share in terms of revenue.
  • New product launches are the main policy pursued by key participants in the tissue engineered skin substitute market.
  • The key players in the tissue engineered skin substitute are focusing on the development of new and technologically advanced designs of skin substitutes.

Competitive Landscape

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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