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.
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
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.
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.
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
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.
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.