Tissue Engineered Skin Substitutes Market expected to reach USD 3.8 Billion in 2023: Transparency Market Research

Albany – NY, Oct. 20, 2015 (GLOBE NEWSWIRE) — According to a new market research report published by Transparency Market Research “Tissue Engineered Skin Substitutes Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2015 – 2023“, the global tissue engineered skin substitutes market was valued at USD 0.9 billion in 2014 and is estimated to reach USD 3.8 billion in 2023 expanding at a CAGR of 17.2% from 2015 to 2023. 

Browse Market Research Report on Tissue Engineered Skin Substitutes Market: 

http://www.transparencymarketresearch.com/tissue-engineered-skin-substitute.html

Skin substitutes or artificial skin substitutes are derived from human tissue, non-human tissue, synthetic materials, and combination of the above materials. Tissue engineered skin substitutes are made up of cells, the extracellular matrix, and combination of cells and matrices. The tissue engineered skin substitutes market is growing at a significant pace due to rise in the number of diabetic and vascular ulcer patients, growing geriatric population, and increasing demand for minimally invasive surgical products. Moreover, growing medical tourism in regions such as Asia is likely to boost demand for tissue engineered skin substitutes. However, disease transmission and lack of favorable reimbursement could hamper market growth during the forecast period from 2015 to 2023. The global tissue engineered skin substitutes market was valued at USD 958.8 million in 2014 and is estimated to reach USD 3,873.5 million by 2023, expanding at a CAGR of 17.2% from 2015 to 2023.

Get Sample Report Copy of Tissue Engineered Skin Substitutes Market: 

http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=3854

Based on type, the global tissue engineered skin substitutes market has been segmented into acellular, cellular allogeneic, cellular autologous, and others. Acellular skin substitute was the largest segment of the tissue engineered skin substitutes market in 2014 and is projected to expand at the highest CAGR from 2015 to 2023. This growth is majorly due to easy availability, low cost, and high demand for these products. Moreover, growing preference for acellular skin substitutes for implant-based skin surgery is likely to contribute to the growth of the segment. For instance, the American Society of Plastic Surgeons (2012) stated that more than 50% surgeons in the U.S. preferred acellular matrix for skin surgeries. Hence, growing preference for acellular skin substitutes boosts demand for tissue engineered skin substitutes. However, high risk of post-implementation infection associated with allogeneic skin substitutes is expected to restrict market growth.

Based on application, the tissue engineered skin substitutes market has been segmented into burn injury, diabetic/vascular ulcer, and others. The diabetic and vascular ulcers segment held the largest share of the market in 2014 and is likely to expand at the highest CAGR during the forecast period due to rapid increase in the diabetic and vascular ulcer cases globally. For instance, according to International Diabetes Federation (2014), around 387 million people were diagnosed with diabetes across the world, and the number is expected to increase at a rapid pace. Skin substitutes are the ultimate choice for patients suffering from acute diabetic ulcers. Hence, escalating number of diabetic patients would fuel the growth of the tissue engineered skin substitutes market. However, lack of favorable reimbursement policies is expected to hamper market growth during the study period. 

The global tissue engineered skin substitutes market is highly consolidated, with top four companies accounting for majority of the market share in 2014. Companies such as 3M Health Care, BSN medical, Medtronic, Acelity, L.P., Inc., Mölnlycke Health, and Integra LifeSciences Corporation are the key players operating in the global tissue engineered skin substitutes market. 

Browse Upcoming Market Research Reports:-

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

About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

CONTACT: Mr. Nachiket Ghumare
         State Tower,
         90 State Street,
         Suite 700,
         Albany NY - 12207
         United States
         Tel: +1-518-618-1030
         USA - Canada Toll Free: 866-552-3453
         Email: sales@transparencymarketresearch.com
         Website: http://www.transparencymarketresearch.com