Tag Archives: Tissue Engineered Skin Substitutes Market

Tissue Engineered Skin Substitutes Market: Expected Advancements & Global Industry Analysis 2023

The top four players in the global tissue engineered skin substitutes market hold almost 60.0% share in it. As a result the competitive landscape is somewhat consolidated. In 2014, Acelity accounted for a leading share of 21.5% in the market on account of a wide array of products that are much in demand. Smith & Nephew followed in the second position with its solid distribution and marketing strategies, targeting particularly the developing economies in Eastern Europe, Latin America, the Middle East, and Asia Pacific. The third and fourth positions in the market was occupied by Molnlycke and ConVatec.

This 67 page report gives readers a comprehensive overview of the tissue engineered skin substitutes market. Browse to unlock the hidden opportunities in this market: http://www.transparencymarketresearch.com/tissue-engineered-skin-substitute.html

The competition in the global market for tissue engineered skin substitutes is stiff with most well-entrenched players investing heavily in research and development to bring about product differentiation which improves their marketability. The leading players are also resorting to mergers and acquisitions to gain a foothold in the local markets. As far as new entrants in the market are concerned, stringent regulatory policies pertaining to manufacture and commercialization of products has created a barrier for them.

The global market for tissue engineered skin substitutes is predicted to expand at a robust CAGR of 17.2% from 2015 to 2023 to rake in an estimated revenue of US$3.87 bn by 2023 from US$1.2 bn in 2016.

Burgeoning Population to Drive Phenomenal Growth in Asia Pacific Market

Depending upon the type of device, acellular skin substitutes leads with over half of the market share. Going forward too, their market is slated to expand at a cracking pace due to their strong demand, especially in implant-based skin surgery. Their relatively lower cost and easy availability are other factors pushing their demand in the market. Revenue-wise, the acellular skin substitutes market was worth US$6.192 bn in 2015.

Geographically, the Asia Pacific market is slated to grow at a scorching pace in the upcoming years due to a burgeoning population and a fast improving healthcare infrastructure. However, in terms of market share, North America leads with maximum – about half – share. In the future too, it is expected to hold on to its dominant share to attain a value of US$1.967 vis-à-vis revenue.

Rising Geriatric Population at the Forefront of Stoking Demand

A burgeoning geriatric population, highly prone to skin diseases like vascular ulcers and having lowered immunity and blood flow, has majorly contributed to the global market for tissue engineered skin substitutes. Another major growth driver in the market is the increasing prevalence of vascular diseases and disorders such as vascular ulcers, DVT, etc. “As per the Center for Disease Control and Prevention, about 900, 000 people are afflicted by DVT annually. DVT also claims about 60, 000 and 100, 000 lives in the U.S. each year. Most people suffering from vascular disease undergo skin surgeries. Hence, a consistent rise in vascular diseases is likely to boost demand for tissue engineered skin substitutes,” states the analyst of the TMR report.

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Competitive Pricing of Local Players to Hamper Market Growth

Countering the growth in the global market for tissue engineered skin substitutes is the competitive pricing strategies by local players. This has intensified competition and put a downward pressure on prices. In the near future, this would likely deal a blow to the healthy growth in the market. Additionally, continued technological progress vis-à-vis product design and efficiency may not bode well for the market owing to the reluctance on the part of consumers to upgrade to expensive advanced procedures and products. The trend would be particularly noticeable in the emerging economies of Brazil, China, and Mexico, where people do not have very high purchasing power.

This review is based on the findings of a TMR report titled “Tissue Engineered Skin Substitutes Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.

 

Tissue Engineered Skin Substitutes Market: Expected Advancements & Global Industry Analysis 2023

The global market for tissue engineered skin substitutes is mostly consolidated as four companies currently maintain a strong hold over revenue shares in market value. The top three players in 2014 were Acelity, Smith & Nephew, and Molnlycke. Their collective share in market value in 2014 was 51.4%. Most commonly, the key providers of tissue engineered skin substitutes offer a wide product profile, invest heavily in research and development to stay ahead of the pack, and possess strong marketing processes and distribution networks.

As a result, although the collective share of regional tissue engineered skin substitute providers is quite large, the reach of key players coupled with the strict set of guidelines governing the release of any product in the market, have created only a moderate threat level from new entrants.

This 67 page report gives readers a comprehensive overview of the tissue engineered skin substitutes market. Browse to unlock the hidden opportunities in this market: http://www.transparencymarketresearch.com/tissue-engineered-skin-substitute.html

The global market for tissue engineered skin substitutes is expected to generate revenue at a highly positive CAGR of 17.2% within a forecast period from 2015 to 2023. This market is expected to generate a revenue of US$1.2 bn by the end of 2016, and US$3.87 bn by 2023.

Medical Tourism Creates Wide Revenue Stream for Tissue Engineered Skin Substitute Providers

“Medical tourism, as an industry, is already a multi-billion dollar one and is showing an annual growth rate in double digits,” states a TMR analyst. “The use of tissue engineered skin substitutes in developed nations is not only growing in numbers, but is also over-expensive and unaffordable for some without a feasible reimbursement policy. As a result, a large number of patients seeking tissue engineered skin substitute treatment are doing so through medical tourism.”

Nations such as Thailand, Malaysia, India, and Singapore are at the forefront of medical tourism and can offer state of the art technologies for tissue engineered skin substitute treatment at a much cheaper rate than that from North America or Europe.

Additionally, medspas, or medical clinics that include a day spa, are a highly preferred place for treatment and healing by the elderly, especially for cases such as treatment of ulcers and venous diseases. Their higher number in developing economies is another factor driving the scope of medical tourism in the tissue engineered skin substitute market.

Cost Effectiveness of Tissue Engineered Skin Substitutes Reduced by Intense Competition

The presence of a large number of local players adds a major layer of restraint to the globally prominent ones for the tissue engineered skin substitutes market. Local players can offer products at a much cheaper cost, thereby forcing key players to match their prices and reduce profit margins.

Request a sample of this report to know what opportunities will emerge in the rapidly evolving tissue engineered skin substitutes market during 2015 – 2023: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=3854

The profits that can be channeled into research and development, therefore, decrease, slowing down the overall growth of the market for tissue engineered skin substitutes. This is more prevalent in developing economies, where the disparity in costs between local and global tissue engineered skin substitute players is quite high.

Asia Pacific to Scale up Demand for Tissue Engineered Skin Substitutes

Owing to a growing population and a rapidly improving healthcare infrastructure in terms of quality and outreach, Asia Pacific is expected to show the fastest growth rate for tissue engineered skin substitutes. It is expected to progress at a CAGR of 18.3% within the forecast period from 2015 to 2023.

Acellular skin substitutes have not only been the dominant type of tissue engineered skin substitutes, but have registered promising growth. From 2015 to 2023, this segment is expected to progress at a CAGR of 17.8%. The leading application for tissue engineered skin substitutes is to treat ulcers. This application segment is expected to progress at a CAGR of 17.5% from 2015 to 2023.

The information presented in this review is based on a Transparency Market Research report, titled, “Tissue Engineered Skin Substitutes Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 – 2023.”

 

Tissue Engineered Skin Substitutes Market Set to Expand by 2023

Global-medical-tourismThe global market for tissue engineered skin substitutes is mostly consolidated as four companies currently maintain a strong hold over revenue shares in market value. The top three players in 2014 were Acelity, Smith & Nephew, and Molnlycke. Their collective share in market value in 2014 was 51.4%. Most commonly, the key providers of tissue engineered skin substitutes offer a wide product profile, invest heavily in research and development to stay ahead of the pack, and possess strong marketing processes and distribution networks.

As a result, although the collective share of regional tissue engineered skin substitute providers is quite large, the reach of key players coupled with the strict set of guidelines governing the release of any product in the market, have created only a moderate threat level from new entrants.

The global market for tissue engineered skin substitutes is expected to generate revenue at a highly positive CAGR of 17.2% within a forecast period from 2015 to 2023. This market is expected to generate a revenue of US$1.2 bn by the end of 2016, and US$3.87 bn by 2023.

Medical Tourism Creates Wide Revenue Stream for Tissue Engineered Skin Substitute Providers

“Medical tourism, as an industry, is already a multi-billion dollar one and is showing an annual growth rate in double digits,” states a TMR analyst. “The use of tissue engineered skin substitutes in developed nations is not only growing in numbers, but is also over-expensive and unaffordable for some without a feasible reimbursement policy. As a result, a large number of patients seeking tissue engineered skin substitute treatment are doing so through medical tourism.”

Nations such as Thailand, Malaysia, India, and Singapore are at the forefront of medical tourism and can offer state of the art technologies for tissue engineered skin substitute treatment at a much cheaper rate than that from North America or Europe.

Additionally, medspas, or medical clinics that include a day spa, are a highly preferred place for treatment and healing by the elderly, especially for cases such as treatment of ulcers and venous diseases. Their higher number in developing economies is another factor driving the scope of medical tourism in the tissue engineered skin substitute market.

Cost Effectiveness of Tissue Engineered Skin Substitutes Reduced by Intense Competition

The presence of a large number of local players adds a major layer of restraint to the globally prominent ones for the tissue engineered skin substitutes market. Local players can offer products at a much cheaper cost, thereby forcing key players to match their prices and reduce profit margins.

The profits that can be channeled into research and development, therefore, decrease, slowing down the overall growth of the market for tissue engineered skin substitutes. This is more prevalent in developing economies, where the disparity in costs between local and global tissue engineered skin substitute players is quite high.

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Asia Pacific to Scale up Demand for Tissue Engineered Skin Substitutes

Owing to a growing population and a rapidly improving healthcare infrastructure in terms of quality and outreach, Asia Pacific is expected to show the fastest growth rate for tissue engineered skin substitutes. It is expected to progress at a CAGR of 18.3% within the forecast period from 2015 to 2023.

Acellular skin substitutes have not only been the dominant type of tissue engineered skin substitutes, but have registered promising growth. From 2015 to 2023, this segment is expected to progress at a CAGR of 17.8%. The leading application for tissue engineered skin substitutes is to treat ulcers. This application segment is expected to progress at a CAGR of 17.5% from 2015 to 2023.

The information presented in this review is based on a Transparency Market Research report, titled, “Tissue Engineered Skin Substitutes Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 – 2023.”

Global Tissue Engineered Skin Substitutes Market to Exhibit 17.20% CAGR, Driven by Growing Number of Diabetic Patients

Transparency Market Research has published a new report, titled “Tissue Engineered Skin Substitutes Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 – 2023”. Based on the survey conducted, the report pegs the value of the global tissue engineered skin substitutes market at US$0.9 bn in 2014. The market, exhibiting an impressive CAGR of 17.20% between 2015 and 2023, is likely to reach US$3.8 bn by 2023.

Browse the full Tissue Engineered Skin Substitutes Market (by Type – Acellular, Cellular Allogeneic, Cellular Autologous, and Others; by Application – Burn Injury, Diabetic/Vascular Ulcer, and Others) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 – 2023 report at http://www.transparencymarketresearch.com/tissue-engineered-skin-substitute.html

Artificial skin substitutes or skin substitutes are derived from human tissue, synthetic materials, non-human tissue, or a combination of these materials. Tissue engineered skin substitutes are made up of cells, combination of matrices and cells, and extracellular matrix. In the past few years, the market for tissue engineered skin substitutes has been witnessing growth at a significant pace owing to the rise in the number of vascular ulcer and diabetes patients. Furthermore, as the geriatric population around the world increases, it is subsequently expected to boost the demand for tissue engineered skin substitutes.

The market, according to the report, has gained much demand due to the rise in medical tourism in the emerging economies of Asia. However, despite witnessing lucrative prospects worldwide, the risk of disease transmission and absence of favorable reimbursement policies in major economies could hamper the overall growth of the market during the period from 2015 to 2023, as per the information published in the report.

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To provide a holistic overview, the report segments the global tissue engineered skin substitutes market into acellular, cellular autologous, cellular allogeneic, and others. Of these, the acellular skin segment held the largest share of the market in 2014 and is expected to rise at the highest CAGR between 2015 and 2023. The growth of this segment is mainly helped by the low cost and easy availability of these tissue engineered skin variants. Moreover, increasing preference for acellular skin substitutes than implant-based skin surgery is also likely to fuel demand from the global tissue engineered skin substitutes market, states the report. As per the American Society of Plastic Surgeons, more than 50% of plastic surgeons in the U.S. preferred using acellular matrix for skin surgeries in 2012. The growing demand from acellular skin substitutes, particularly from the developed nations, will therefore boost the global tissue engineered skin substitutes market.

In terms of application, the report segments the global market for tissue engineered skin substitutes into diabetic/vascular, burn injury, and others. Of these, the diabetic/vascular segment held the largest share in the market in 2014, and as per the report, the segment will rise at the highest CAGR during the forecast period.To present a comprehensive overview of the market, the report also profiles companies such as BSN medical, 3M Health Care, Mölnlycke Health, Medtronic, Integra LifeSciences Corporation, and Acelity, L.P., Inc.

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The global tissue engineered skin substitutes market is segmented as follows:

Global Tissue Engineered Skin Substitutes Market, by Type

  • Acellular
  • Cellular Allogeneic
  • Cellular Autologous
  • Others

Global Tissue Engineered Skin Substitutes Market, by Application

  • Burn Injury
  • Diabetic/Vascular Ulcer
  • Others

Global Tissue Engineered Skin Substitutes Market, by Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K
    • Germany
    • Rest of Europe
  • Asia Pacific (APAC)
    • China
    • India
    • Rest of APAC
  • Latin America (LATAM)
    • Brazil
    • Mexico
    • Rest of LATAM
  • Middle East & Africa (MEA)
    • South Africa
    • Rest of MEA

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Global Tissue Engineered Skin Substitutes Market expected to reach USD 3.8 Billion in 2023

Tissue engineering is a sophisticated yet promising treatment option for the treatment of skin diseases and disorders. Tissue engineering entails the development of biological substitutes to restore damaged tissue or maintain tissue function via the use of both cellular and acellular materials. It thus calls for close collaboration between cell biologists, geneticists, clinicians, and other experts. With skin disorders and diseases on the rise, coupled with the booming medical tourism industry, the prospects of the tissue engineered skin substitutes market look promising.

The global tissue engineered skin substitutes market is on the brink of explosive growth over the next few years as more advances in the field are made. The fact that the tissue engineered skin substitutes market will grow at 17.2% CAGR between 2015 and 2023 also speaks volumes about the high degree of innovation that prevails in the market. According to Transparency Market Research, tissue engineered skin substitutes constituted a US$958.8 mn market. The market is expected to surge to US$3.8 bn by 2023. Acellular tissue engineered skin substitutes are more popular than cellular substitutes because of the comparatively attractive price that the former boast.

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Use of Tissue Engineered Skin Substitutes was Highest for Diabetic Ulcers in 2014

The WHO predicting that diabetes will be the 7th leading cause of death by 2030 is indicative of the pandemic proportions this disease has attained. An alarming 25.0% of diabetics are diagnosed with diabetes-related ulcers, said the International Diabetes Federation in 2014. These ulcers can take months on end to heal even when great precautions are taken. In the case of acute

For patients suffering from acute diabetic ulcers, skin substitutes are, in most cases, the only available option if they are to prevent their quality of life from being compromised. As a result of this, the demand for tissue engineered skin substitutes will continue to remain high from patients suffering from diabetic ulcers.

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Tissue Engineered Skin Substitutes Market Currently Concentrated in North America

The availability of a wide variety of tissue engineered skin substitutes is in itself the key factor responsible for keeping North America at the top of the global market. This wide choice of products on its part can be ascribed to the high prevalence of diabetes in North America. Besides diabetes, deep vein thrombosis (DVT) continues to impose an increasing burden on healthcare agencies in the U.S. The Centers for Disease Control and Prevention (CDC), in its report published in March 2015, says that about 900,000 people in the United States are diagnosed with DVT per year. Ulcers and lesions resulting from DVT are contributing to the demand for tissue engineered skin substitutes in North America.

However, when it comes to lifestyle-related diseases, the Asia Pacific is inching closer to North America owing largely to the increasing affluence in countries in the former. Moreover, a sizeable aging population base in countries such as Japan, Singapore, and China put persons in this age group at a higher risk of diabetes and DVT. Thus, the investment potential of Asia Pacific will only continue to rise over the next few years.

Browse Full Global Tissue Engineered Skin Substitutes Market Report With Complete TOC @ http://www.transparencymarketresearch.com/tissue-engineered-skin-substitute.html

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