Scaffold Technology Market Size, Share & Trends Analysis Report By Type (Hydrogels, Nanofiber-based Scaffolds), By Application, By Disease Type, By End Use, By Region, And Segment Forecasts, 2020 - 2027
New York, Nov. 06, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Scaffold Technology Market Size, Share & Trends Analysis Report By Type, By Application, By Disease Type, By End Use, By Region And Segment Forecasts, 2020 - 2027" - https://www.reportlinker.com/p05982592/?utm_source=GNW
Scaffold Technology Market Growth & Trends
The global scaffold technology market size is expected to reach USD 1.94 billion by 2027. It is expected to expand at a CAGR of 9.05% from 2020 to 2027. Constant technological advancements in scaffold technology, such as the advent of micropatterned surface microplates and nanofiber-based scaffolds, to facilitate wound repair and soft tissue repair applications boost the revenue generation in the market. A recently developed next-generation injectable microporous scaffold enables organ-on-a-chip technology for the enhancement of in vivo wound healing procedures.
The commercial success of 3D cell culture over the 2D culture system for histological analysis and drug screening purposes has provided lucrative growth avenues for scaffold technology used during 3D cell culturing. This technology minimizes the usage of animal models as it reiterates tissue architectures, thus providing physiologically relevant cellular models for disease investigation.
The broadening horizon of scaffold technology in drug development procedures fuels the market progression.The continual attrition rate in drug development caused due to the inability of monolayer cell culture paves a path for the adoption of scaffold-based cultures that efficiently mimic the disease-causing microenvironment.
The rise in demand for novel scaffold-based cultures also reduces the loss of enormous costs involved in the failure of drug development.
The use of biomatrix with incorporated nanoparticles for drug delivery and tissue repair is expected to have a high success rate in the near future.The stem cell therapy, regenerative medicine, and tissue engineering application dominated the market in 2019.
The combination of biomaterials and stem cells is an emerging concept useful in cell delivery and tissue construction, which positively impacts the revenue generation in this application. In addition, the presence of supportive organizations, such as the International Society for Stem Cell Research, boosts the demand for 3D scaffolds in this application.
For instance, in May 2019, InVivo Therapeutics introduced a new trial for its neuro-spinal scaffold device, INSPIRE 2.0 study, which widened the scope of a biodegradable device in the treatment of thoracic spinal cord injury. A rise in the number of drug approvals and growth in R&D funding prompt the biotechnology and pharmaceutical companies to widely employ 3D culturing techniques. These techniques act as a robust tool in toxicology and metabolic profiling of drug moieties during the drug development processes.
Asia Pacific is anticipated to expand at the fastest CAGR over the forecast period.Tianjin Municipal Science and Technology Commission and Administrative Commission of the Tianjin Economic-Technological Development Area are China-based funding bodies that boost cell-based research projects in China.
For instance, in October 2019, Corning launched Elplasia and Matrigel matrix for organoid culture to support organoid and spheroid culture models, thereby expanding its cell culture portfolio.
Scaffold Technology Market Report Highlights
• By type, nanofiber-based scaffolds are expected to register the fastest growth rate during the forecast period with the expansion of nanoscience and nanotechnology technologies
• The stem cell therapy, regenerative medicine, and tissue engineering application segment accounted for the largest revenue share in 2019 and is expected to grow at a lucrative pace in the near future
• Stem cell therapy and regenerative medicine are transforming the treatment of neurodegenerative disorders, resulting in the fastest CAGR of the neurology segment
• The Asia Pacific is anticipated to witness the fastest growth over the forecast period due to the rise in the number of research grants for cell-based research and tissue engineering projects in this region
• Key players such as Merck, Thermo Fisher, Corning, Avacta, Medtronic, Pelobiotech, and Matricel GmbH, have adopted several strategic initiatives to reinforce their market presence
Read the full report: https://www.reportlinker.com/p05982592/?utm_source=GNW
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