According to a new report, the global scaffold technology market is anticipated to reach USD 1,508.2 million by 2025. The report segments the Market, [By Product Type (Polymeric Scaffolds, Hydrogels, Micro patterned Surface Microplates, Freeze Embryo Testing, Nanofiber-based Scaffolds); By Application (Drug Development, Stem Cell Research, Cancer, Tissue engineering and clinical application, Others); By End Use (Research Laboratories & Institutes, Biotechnology and pharmaceutical Organizations, Hospital & Diagnostics Centre, Others); and By Regions]
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In 2017, on the basis of application type, cancer application segment captures the largest market shares in terms of revenue and hold the major share in the market. Regionally, North America accounted for the major share in the global scaffold technology market.
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The global scaffold technology market is majorly driven by the increasing number of minimally invasive surgeries for the treatment of the increasing number of cancer patients across the globe. Additionally, rising preference for the regenerative technology, and increasing organ transplant for the treating the damaged organ or tissues to also attribute to the growth of this market during the forecast period.
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Moreover, rising in the aging population which leads to organ dysfunction and increasing research and development for the use of 3D cell and its application to also add on for the growth scaffold technology market.
On the basis of product type, the scaffold technology market is segmented as polymeric scaffolds, hydrogels, micropatterned surface microplates, freeze embryo testing, and nanofiber-based scaffolds. Based on application, the scaffold technology market is segmented as drug development, stem cell research, cancer, tissue engineering and clinical application, and others.
On the basis of end use, the scaffold technology market is segmented as research laboratories & institutes, biotechnology and pharmaceutical organizations, hospital & diagnostics center, and others.
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By geography, the global scaffold technology market is segmented into five major regions, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In terms of geography, North America dominates the scaffold technology market.
The growth of this market is majorly driven by the increasing number of patients suffering from various types of cancer, and an increasing number of deaths due to cancer. According to WHO, cancer is the second leading cause of death globally that accounted for 8.8 million of deaths in 2015 would also influence the market growth.
Additionally, increasing investment by the government and regional players for to also support the market growth with the continuous increase in the research and development for the use of this technology. Whereas, Asia-Pacific is expected to grow at a faster rate owing to the continuous increase in the investments on developing healthcare infrastructure by the governments due to highly regulated policies for promoting the use of this technology, increasing number of patients suffering from cancer, and raising awareness for the use of organ transplant.
Furthermore, the rising number of smoking populations in this region, and increasing alcohol consumption due to changing lifestyle to also drive the scaffold technology market in Asia-Pacific.
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The leading companies operating in global scaffold technology market Merck and Company, Thermo Fisher Scientific Inc., 3D Biotek LLC, Pelo Biotech GmbH, Corning Inc., Becton, Dickinson and Company, Avacta Life Sciences Limited, Nanofiber Solutions, NuVasive, Inc., ReproCELL Europe Ltd., Marticel GmbH, Tecan Trading AG, and Molecular Matrix Inc.
Key Findings from the study suggest various technologies available in the market are continuously concentrating on the technological advancements. Companies while developing new advanced technology which consider the factors such as increasing awareness for treating various chronic diseases, and increasing awareness for organ transplant in the developing countries.
North America is presumed to dominate the global scaffold technology market over the forecast years and Asia Pacific region shows signs of high growth owing to the booming economies of India, and China.
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