The Tissue Engineered Skin Substitutes Market is expected to reach $3, 923.08 million by 2023 at a CAGR of 16.9%
By Type (Acellular, Cellular Allogeneic, Cellular Autologous, Others); By Application (Burn Injury,Diabetic/Vascular Ulcer and Others) & By Region-Forecast 2018-2023”, the market is driven by rapidly growing urbanization during the forecast period.
Tissue Engineered Skin Substitutes Market (2018 - 2023)”
North America to dominate the Tissue Engineered Skin Substitutes Market
North America will dominate the Tissue Engineered Skin Substitutes Market in the coming years. It will generate revenue of $1,694.97 million by 2023 at a CAGR of 16.70%. In the US, the growth of the tissue scaffold will grow at a significant pace due to the growing demand for tissue engineered products for treatment, technologically advanced practices, and the presence of the key players in the country. Acellular type of skin substitutes has a major share in the US market. Diabetic/Vascular Ulcer is the main application of tissue engineered skin substitutes in the US. Increasing instances of obesity and diabetes and growth of the elderly population are the factors driving the growth of this application.
Selected Analysis done in the full Report:
The Diabetic/Vascular Ulcer segment in 2017 generated revenue of $716 million. It is expected to reach $2,227. 22 million by 2023 at a CAGR of 17.6%. The application of tissue engineered skin is quite effective in the wound closure of patients with diabetic and vascular ulcers. The treatment of diabetic ulcer includes wound care with dressing. Antibiotics are given if there is an infection in the body. In wound healing, when the skin is injured, the organic debris should be removed from the injury, and new components should be added. These processes include mutual interactions between the cells, extra cellular matrix, and soluble factors. In stem cell therapy, adult stem cells are introduced into the damaged skin tissue for treating an injury or disease. This process is considered as a treatment for diabetic ulcers.
Excerpts on Market Growth Factors
- Growing incidences of skin disorders drive the demand for Tissue Engineered Skin Substitutes Market.
- Growing healthcare expenditure and ageing population enhance the growth of tissue engineered skin substitutes such as auto graft.
- Increasing incidences of vascular diseases drive the growth of the Tissue Engineered Skin Substitutes Market.
Key players of the Tissue Engineered Skin Substitutes Market
Acelity L.P. Inc, Smith & Nephew Plc, and Integra LifeSciences Holdings Corporation are the dominant players in the Tissue Engineered Skin Substitutes Market. Acelity L.P. Inc provides many solutions that can help in faster healing of diabetic ulcers. Smith & Nephew Plc manufactures Allevyn Life which is used for pressure ulcer prevention control. Integra LifeSciences Holdings Corporation manufactures PriMatrix which is a collagen matrix that can be applied to wounds.
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