Scaffold Technology Market Regional Analysis:
North America Market Insights
North America industry is likely to dominate majority revenue share of 47% by 2035. The growth in this region is poised due to the latest advancements in regenerative medicine and stem cell research. According to a report by the National Library of Medicine in 2023, stem cell revenue share in 2022 was about USD 297 million and is propelled to observe a growth rate of 16.8% till 2027. This is led by various factors such as clinical trials with positive results along with high demand for regenerative medicine.
The increasing funding for regenerative medicine and stem cell research in the U.S. from the government and various private institutions. For instance, the California Institute for Regenerative Medicine (CIRM), awarded USD 43.8 million in funds for enhancing gene and stem cell therapy in California. Additionally, it is estimated that the state of California will fund an amount of USD 110 million from 2024 to 2028 for research studies.
There is a presence of prominent players in Canada who are launching and promoting new products for the development of scaffold technologies, such as STEMCELL Technologies, BlueRock Therapeutics, Ontario Institute for Regenerative Medicine, and many more. The presence of such key players will augment the stem cell treatment market share in the forecast period.
APAC Market Insights
Asia Pacific will also encounter huge growth in the scaffold technology market share during the forecast period with a notable size and will account for the second position. The latest innovations and production of various techniques are expected to propel the development of scaffold technologies in this region. Gelomics, an Australian company collaborated with Rousselot Biomedical in October 2023, regarding the supply of Rousselot X-Pure GelMA (gelatin methacryloyl) for using it as an extracellular matrix in tissue culture systems.
The increasing advancements in stem cells are fueled to act as a growth factor for scaffold techniques in China. In November 2022, more than 31000 hematopoietic stem cell transplantations (HSCTs) were done between 2020 and 2021 and reported to the Chinese Blood and Marrow Transplantation Registry Group.
Using state-of-the-art techniques in Japan for creating more precise artificial scaffolds is at a surge. According to a report in October 2021, the Okinawa Institute of Science and Technology Graduate University (OIST) uses a 3D scaffold that can guide while regenerating neurons in a particular direction.
