May 29, 2024
Biodegradable Scaffold Market

The Growing Biodegradable Scaffold Market Driven By Increasing Adoption Of Biodegradable Materials In Medical Devices

Biodegradable scaffolds are 3D structures that support tissues and cells in regenerating damaged tissues or entire organ. They are composed of natural or synthetic biodegradable polymers which degrade over time and get absorbed harmlessly by the body. Scaffolds play a critical role in regenerative medicine by acting as a template for new tissue formation. Demand for biodegradable scaffolds in tissue engineering applications has been increasing owing to their biocompatibility and ability to deliver drugs, growth factors, and cells to facilitate tissue regeneration. Scaffolds help fill the space created by damaged tissue and provide structural and biological cues to guide cells as new tissue forms. Common applications of biodegradable scaffolds include bone regeneration, wound healing, soft tissue reconstruction, and nerve regeneration.

The global Biodegradable Scaffold Market is estimated to be valued at US$ 2.31 Mn  in 2024 and is expected to exhibit a CAGR of 4.1%  over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends

One of the key trends in the biodegradable scaffold market is the increasing preference for bio-based polymers over synthetic polymers. Common bio-based polymers used for scaffold fabrication include collagen, fibrin, hyaluronic acid, chitosan and alginate. They exhibit excellent biocompatibility and bioabsorption properties. Compared to synthetic polymers, bio-based polymers do not require surface modifications to promote cell attachment. Their degradation matches the rate of tissue regeneration. As a result, bio-based scaffolds cause minimal inflammation and facilitate better tissue integration. This trend is expected to drive the demand for natural polymer based biodegradable scaffolds in the coming years.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate as the biodegradable scaffold market requires substantial investment in R&D. However, the growing demand provides opportunities for new players.

Bargaining power of buyers: The bargaining power of buyers is moderate. The availability of alternative treatment options provides some negotiating power to buyers.

Bargaining power of suppliers: The bargaining power of suppliers is low due to the presence of several scaffold suppliers. Suppliers also have less differentiating power.

Threat of new substitutes: The threat of substitutes is moderate as there are alternative treatment options like tissue engineering and drug eluting stents. However, biodegradable scaffolds have advantages over substitutes.

Competitive rivalry: The competitive rivalry is high between established players. Players compete based on innovative product launches, price, reliability, and service.

Key Takeaways

The global Biodegradable Scaffold Market Share is expected to witness high growth over the forecast period due to the growing prevalence of chronic diseases, rising geriatric population, and increasing adoption of minimally invasive procedures. The global Biodegradable Scaffold Market is estimated to be valued at US$ 2.31 Mn  in 2024 and is expected to exhibit a CAGR of 4.1%  over the forecast period 2024 to 2031.

Regional analysis: North America dominates the global market and is estimated to continue its dominance during the forecast period. This is attributed to the advanced healthcare infrastructure and rising cases of spinal disorders and cardiac diseases in the region. Asia Pacific is anticipated to showcase the fastest growth rate owing to growing healthcare spending, rising medical tourism, and increasing demand for innovative biomaterials.

Key players: Key players operating in the biodegradable scaffold market are Medtronic Plc, Koninklijke Philips N.V., Abbott, Johnson & Johnson Service Inc., Merit Medical Systems, Inc., Stryker, Penumbra, Inc., Acandis GmbH & Co. KG, MicroPort Scientific Corporation, Terumo Corporation. These players are focusing on new product launches and strategic collaborations to strengthen their market position.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it