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Scaffold Technology Market Size, Share Analysis, Growth And Overview Report 2024-2033
Scaffold Technology Market Size
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According to The Business Research Company's, The scaffold technology market size has grown rapidly in recent years. It will grow from $1.37 billion in 2023 to $1.54 billion in 2024 at a compound annual growth rate (CAGR) of 12.3%. The growth in the historic period can be attributed to increase in the elderly population, increasing incidence of chronic diseases, expansion of the biotechnology industry, rising awareness of organ donation, and growth in personalized medicine.
The scaffold technology market size is expected to see rapid growth in the next few years. It will grow to $2.47 billion in 2028 at a compound annual growth rate (CAGR) of 12.6%. The growth in the forecast period can be attributed to rising demand for regenerative medicine, growth in stem cell research, increased funding for life sciences, growing applications in drug delivery, and government support and grants. Major trends in the forecast period include advancements in tissue engineering, innovations in 3D printing, collaborations between academia and industry, technological advancements in biomaterials, and advances in bioprinting.
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Market Drivers and Trends:
The rise in demand for body reconstruction procedures is expected to propel the growth of the scaffold technology market going forward. Body reconstruction procedures involve surgical or medical techniques to repair, restore, or enhance damaged or altered body structures to improve function and appearance. The demand for body reconstruction procedures is driven by factors such as rising incidences of trauma, congenital abnormalities, and the growing desire for aesthetic improvements. Scaffold technology aids body reconstruction by providing a supportive framework that promotes tissue regeneration and repair, helping to rebuild damaged areas effectively. For instance, in December 2023, according to the Australian Institute of Health and Welfare, an Australia-based government administration, in 2022-23, 735,500 patients were admitted for surgery from public hospital elective surgery waiting lists, marking an 18% rise compared to 2021-22. Therefore, the rise in demand for body reconstruction procedures is driving the growth of the scaffold technology market.
Major companies operating in the scaffold technology market are focused on developing technologically advanced solutions, such as bioresorbable scaffolds, to provide temporary structural support for tissue growth. A bioresorbable scaffold is a temporary, biocompatible structure used in tissue engineering that gradually dissolves and is absorbed by the body as it supports tissue growth and regeneration. For instance, in February 2024, BIOTRONIK, a Germany-based medical technology company, launched the FreesolveTM Resorbable Magnesium Scaffold (RMS). The freesolve resorbable magnesium scaffold (RMS) uniquely offers complete dissolution within 12 months, providing a reliable alternative to drug-eluting stents (DES) for coronary artery lesion treatment. Its biocompatible BIOmag magnesium alloy ensures temporary vessel support, enhances patient outcomes, and boasts superior safety, deliverability, and performance. The scaffold's versatility in sizes and lengths allows for tailored treatments, making it a standout choice in cardiovascular interventions due to its natural compatibility with the human body.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Johnson & Johnson, Medtronic Plc, Merck KGaA, Stryker Corporation, Corning Incorporated, Akzo Nobel N.V., Zimmer Biomet, Avantor Inc., Lonza Group AG, Smith & Nephew Plc, Bio-Rad Laboratories Inc., Tecan Trading AG, NuVasive Inc., Vericel Corporation, RTI Surgical Holdings Inc., Cellink AB, Thermo Fisher Scientific Inc., Cook Biotech Inc., PeproTech Inc., Collagen Matrix Inc., 3D Biotek LLC, Avacta Life Sciences Limited, Innovia Medical Inc., Molecular Matrix Inc., Organovo
Scaffold Technology Market 2024 Key Insights:
• The scaffold technology market size is expected to see rapid growth in the next few years. It will grow to $2.47 billion in 2028 at a compound annual growth rate (CAGR) of 12.6%.
• Growing Demand for Body Reconstruction Procedures Boosts Scaffold Technology Market
• Increased Focus on Technological Advancements in Scaffold Technology
• North America was the largest region in the scaffold technology market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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