Portland, OR, May 25, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Scaffold Technology Market was estimated at $398.91 million in 2019 and is expected to hit $1.25 billion by 2027, registering a CAGR of 16.9% from 2020 to 2027. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
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Advantages of 3D culture techniques over 2D methods, increase in use of 3D cell cultures for cancer research, surge in demand for organ transplantation, and increase in investment for R&D activities have driven the growth of the global scaffold technology market. On the other hand, high implementation costs and irregularity in 3D cell culture outcomes impede the growth to some extent. However, technological advancements are anticipated to pave the way for lucrative opportunities in the industry.
Covid-19 scenario-
- The outbreak of the pandemic led to increase in R&D activities, thereby creating huge demand for scaffold-based platforms in 3D cell cultures in order to develop a sustainable treatment against Covid-19.
- On the other hand, extended lockdown gave way to disrupted supply chain and lack of trained human resources. Also, the unavoidable quarantine measures have affected the supply of scaffold-based modules required for 3D cell cultures.
The global scaffold technology market is analyzed across product type, type, application, end-user, and region. Based on product type, the natural scaffold segment contributed to nearly two-thirds of the total market revenue in 2019, and is projected to dominate by the end of 2027. The synthetic scaffold segment, on the other hand, is anticipated to portray the fastest CAGR of 17.9% during the forecast period.
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Based on application, the cancer research segment accounted for nearly one-third of the total market share in 2019, and is expected to retain its dominance by 2027. Simultaneously, the regenerative medicine segment is anticipated to exhibit the fastest CAGR of 17.6% from 2020 to 2027.
Based on region, the market across North America held the major share in 2019, generating around two-fifths of the global market. At the same time, the market across Asia-Pacific would cite CAGR of 18.7% throughout the forecast period. The other regions studied in the report include Europe and LAMEA.
The key market players analyzed in the global scaffold technology market report include Advanced Biomatrix, Inc., Agilent Technologies, Inc. (Biotek), Merck KGaA (Sigmaaldrich), BioVison, Incorporated, Thermo Fisher Scientific Inc, 3D Biotek LLC, PromoCell GmbH, Reprocell, Corning Incorporated, Incorporation, and Incorporated. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.
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