Biological Skin Substitutes Market Research Report - Forecast to 2032

Biological Skin Substitutes Market Research Report - Forecast to 2032

ID: MRFR/HC/10113-UR | None | Author: Garvit Vyas | Upcoming         

Introduction


Biological Skin Substitutes Market Size was valued at USD 0.305 billion in 2022. The Biological Skin Substitutes Market is projected to grow from USD 0.33184 billion in 2023 to USD 1.32 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 15.78% during the forecast period (2023 - 2032).


Biological skin substitutes are medical-grade treatments that are used to cover, close and protect wounds and to reduce the risk of infection. This market consists of products derived from human, animal and synthetic sources, which are used to replace or supplement a patient’s own skin for the treatment of serious ulcers, burns and major traumas. Some popular biological skin substitutes are epidermal equivalents, dermal equivalents, allografts, xenografts, composite skin grafts and scaffolds.


Market Size


The growth of this market is mainly due to increasing incidences of accidents, increasing number of aged patients, growing healthcare expenditure and increasing incidence of chronic skin diseases and burns.


Key Trends


One key trend in this market is the increasing use of natural skin grafts. Natural skin grafts are seen as a reliable and effective way to cover wounds compared to synthetic skin grafts due to their better patient acceptance rates and natural states. As a result, there is a growing demand for these products in the market.


Another key trend that is driving market growth is the increasing focus on regenerative medicine. Regenerative medicine technologies are gaining traction due to their potential to create biological skin substitutes that can act as effective wound dressings and are involved in promoting the healing process.


Segment Insights


The global biological skin substitutes market is segmented on the basis of source, product, application, and end user. By source, the human-sourced skin substitutes segment is estimated to account for the largest share of the market in 2020. This is mainly attributed to their high patient acceptance rates and the benefit of naturally developed skin substitutes. On the other hand, synthetic-sourced skin substitutes are expected to Witness the highest CAGR during the forecast period, 2020 to 2025.


By product, epidermal and dermal skin substitutes are the most commonly used types, owing to their ability to stimulate the growth of keratinocytes, fibroblasts and other key components of the epidermis and dermis.


By application, wound covering is expected to be the largest application segment, due to its growing application in the treatment of serious ulcers, burns and major traumas.


Regional Share and Insights


North America is estimated to account for the largest share of the global biological skin substitutes market in 2020, due to consumer awareness, growing healthcare expenditure and the presence of major market players in this region. Moreover, the presence of major reimbursement policies, government regulations and manufacturing activities in the region are also contributing to the market growth.


Asia Pacific is expected to be the fastest-growing region during the forecast period due to growing geriatric population and increasing incidences of chronic skin diseases and burns in this region. This region is also witnessing an increasing adoption of innovative technologies and a growing preference for advanced medical treatments in hospitals.


Key Market Players


Some of the key players in the global biological skin substitutes market are Ethicon (Johnson & Johnson), Organogenesis, Molnlycke Health Care, Smith & Nephew, Integra LifeSciences, Derma Sciences, Osiris Therapeutics, Lonza Group, Advanced BioHealing, and Solsys Medical.


Competitive Insights


The biological skin substitutes market is highly competitive, with a large number of players competing for market share. Companies are increasingly focusing on product innovations and strategic collaborations to expand their product portfolios and strengthen their market positions. For instance, in February 2020, Organogenesis launched a new cell therapy product, OPTM (Organogenesis Perfectis Therapy Matrix), to expand its product portfolio and to strengthen its position in the European market.


Industry Developments


Industry developments have been instrumental in the growth of the global biological skin substitutes market. For instance, in November 2019, the USFDA approved Organogenesis’s leading Bioengineered Skin Replacement (BSR) product, Apligraf, for the management of partial thickness wounds. The approval was based on the data obtained from a clinical study on the efficacy and safety of the product.


Conclusion


The global biological skin substitutes market is expanding at a rapid rate, due to a growing awareness amongst consumers, increasing healthcare expenditure, growing geriatric population and increasing incidences of chronic skin diseases and burns. Companies are focusing on product innovations, strategic collaborations and regulatory approvals to expand their market share and strengthen their position in the global market.



Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
Request Free Sample

Why Choose Market Research Future?

  • Vigorous research methodologies for specific market.
  • Knowledge partners across the globe
  • Large network of partner consultants.
  • Ever-increasing/ Escalating data base with quarterly monitoring of various markets
  • Trusted by fortune 500 companies/startups/universities/organizations
  • Large database of 5000+ markets reports.
  • Effective and prompt pre- and post-sales support.
Speak to Analyst
Leading companies partner with us for data-driven Insights.
Client logo Client logo Client logo Client logo Client logo Client logo Client logo Client logo Client logo Client logo

Kindly complete the form below to receive a free sample of this Report

Please fill in Business Email for Quick Response
Invalid

Kindly complete the form below to receive a Table of Content

Please fill in Business Email for Quick Response
Invalid