Global Scaffold Technology Market Projected To Grow At A CAGR Of 9.45 % By 2028
A new research report published by Fior Markets with the title Scaffold Technology Market by Type (Nanofiber Based Scaffolds, Micropatterned Surface Microplates, Polymeric Scaffolds, Hydrogels), Application (Drug Discovery, Stem Cell Therapy, Regenerative Medicine, & Tissue Engineering), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2021 to 2028
The global scaffold technology market is expected to grow from USD 1.05 billion in 2020 to USD 2.16 billion by 2028, at a CAGR of 9.45% during the forecast period 2021-2028. The Asia Pacific region is anticipated to show the largest share in the global scaffold technology market over the forecast period. It is due to an increase in the initiatives taken by the government. The governments in the region are highly emphasizing on stem cell research and regenerative medicine. Emerging countries like India are encouraging the growth of the market.
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post the COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
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Key players in the scaffold technology market are REPROCELL Inc., Tecan Trading AG, Molecular Matrix Inc., Xanofi, 3D Biotek LLC, Becton, Dickinson and Company, Thermo Fisher Scientific, Inc. and Merck KGaA.
The type segment includes nanofiber based scaffolds, micropatterned surface microplates, polymeric scaffolds and hydrogels. The hydrogels segment had the highest share of 27.39% in 2020. The primary factor that contributed to the growth of the segment is characteristics associated with the utilization of hydrogels like the effectiveness of loading cells and drugs for controlled drug delivery. The application segment includes drug discovery, stem cell therapy, regenerative medicine, & tissue engineering. The drug discovery segment is expected to show the highest share over the forecast period. A rise in the requirement of movable & comprehensive tools for drug discovery is anticipated to propel the utilization of scaffold technology in the segment.
An increase in the utilization of biomaterials that involves composites and polymers leads to the increase of fabrication of scaffold. It propels the market by encouraging the extensive use of scaffold technology in tissue engineering. Technological innovations and advancements related to reconstructive operational methods promote enhanced incorporation of scaffold technology. This promotes the usage of scaffold technology in the reconstructive processes. Moreover, continuous research and development programs in order to produce three-dimensional substrates result in an increased application of the technology in drug delivery. Also, inclination towards three-dimensional cell tissue culture from two-dimensional systems is expected to accelerate the growth of the market over the forecast period.
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- CDN Newswire