Biodegradable scaffolds are 3D porous structures made of naturally occurring or synthetic polymers or metals such as polylactic-co-glycolic acid, collagen, or magnesium. They are used as an artificial temporal extracellular matrix for tissue regeneration and repair. Biodegradable scaffolds find wide applications in cardiovascular, orthopedic, and dental surgeries as an alternative to surgical operation. They allow for tissue in-growth and development of new tissue while degrading at a rate proportional to the formation of new tissue. Increasing prevalence of cardiovascular diseases, orthopedic disorders, and trauma injuries have been driving the demand for biodegradable scaffolds which facilitates natural repair of tissues and organs without removal of the scaffold post-treatment.
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 2024-2031, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity
Growing demand for minimally invasive surgical procedures is expected to offer lucrative growth opportunities for players in the biodegradable scaffold market. Biodegradable scaffolds are used in minimally invasive surgeries as they allow for tissue regeneration through a small incision, lowering risks of infection and reducing hospital stay and costs of treatment. Various innovations in scaffold material and design focused on improving biocompatibility and mechanical properties to match tissues are further widening their clinical applications.
Porter’s Analysis
Threat of new entrants: The biodegradable scaffold market has moderate threat from new entrants as setting up manufacturing infrastructure requires high capital investment and expertise in material science and biotechnology is required. Also, established market players enjoy advantages of scale and brand loyalty thereby creating barriers for new entrants.
Bargaining power of buyers: The bargaining power of buyers in the biodegradable scaffold market is moderate as the demand for biodegradable scaffolds depends on the requirement of different surgeries and medical conditions. Also, the products differ in their material composition and design.
Bargaining power of suppliers: Suppliers have moderate bargaining power in the biodegradable scaffold market as raw material suppliers are global organizations and production requires technical expertise. Suppliers may also integrate backwards to gain access to end markets.
Threat of new substitutes: Potential threat from new substitutes is low in the biodegradable scaffold market as other treatments/therapies are niche and biodegradable scaffolds provide advantages in terms of minimal invasiveness.
Competitive rivalry: The biodegradable scaffold market witnesses high competitive rivalry due to presence of global and regional players. Players compete based on technical excellence, cost efficiencies, and geographic expansion.
SWOT Analysis
Strength: Biodegradable scaffolds provide a natural template for tissue regeneration without need for removal. They can be easily customized based on patient anatomy.
Weakness: High raw material and manufacturing costs of biodegradable scaffolds limit widespread adoption. Control over degradation rate and mechanical integrity during degradation remains a challenge.
Opportunity: Rising geriatric population globally increases demand for treatment of musculoskeletal disorders. 3D printing/additive manufacturing allows for customized designs.
Threats: Stringent regulatory approval process and limited reimbursement coverage deter widespread commercialization. Adoption of alternative treatments poses a threat.
Key Takeaways
The global Biodegradable Scaffold Market Share is expected to witness high growth over the forecast period from 2024 to 2031. 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 2024-2031.
The Asia Pacific region dominates the market with China and India as major contributors to market growth. Regional analysis also includes factors driving growth in other territories like rising healthcare spending and presence of key global 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, Cerus Endovascular Limited., ASAHI INTECC USA, INC., ZYLOX-TONBRIDGE MEDICAL TECHNOLOGY CO., LTD., iVascular, LifeHealthcare, Veiva, and Nordson MEDICAL.
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