Between 2022 to 2027, the size of the global artificial skin market is predicted to be growing at a CAGR of 6.4%.
The COVID-19 pandemic is wreaking havoc on people all across the world. COVID-19 produces pneumonia, severe and acute respiratory difficulties, multiple organ failure, and death in the most severe cases. COVID-19 is more prevalent among the elderly. The global artificial skin market expanded slowly throughout the pandemic. Governments in developing nations actively invest in updating healthcare infrastructure to expand access to healthcare services. As a result, the need for artificial skin is expected to rise.
The annual increase in the incidence of acute and chronic wounds is one of the primary drivers of the global artificial skin market.
As consumers become more aware of the many skin-care choices available, artificial skin is becoming more popular. Auto rejection does not occur because artificial skin is devoid of immunogenic cells like dendritic cells; auto rejection does not occur. Therefore, the artificial skin market has grown along with vehicle accidents, burns, and trauma-related incidences. Burn injuries, the prevalence of chronic and acute wounds such as diabetic foot ulcers, increased R&D activities to create new products, and technological advancements are driving the worldwide artificial skin market.
Diabetic foot ulcers, pressure ulcers, and venous leg ulcers are challenging and expensive to treat, putting a strain on healthcare systems. Sedentary lifestyles, poor eating habits, and the growth of disorders like obesity and diabetes all contribute to chronic wounds. Avita Medical believes that the product’s launch in Japan will be profitable due to the increase in patients suffering from chronic injuries and decubitus ulcers in recent years. Innovative products require a lot of research and development from manufacturers. As a result, more vendors are entering the market, resulting in shrinking profit margins for incumbent suppliers.
As the number of diabetics and obese individuals has grown, so has the demand for rapid wound healing. These factors will drive demand for regenerating artificial skin during the forecast period. In order to maintain their market positions, existing suppliers are being driven to produce new products by increasing their R&D spending.
The global artificial skin market is further being propelled forward by the increased occurrence of acute and chronic wounds and significant demand for skin grafts. In addition, advances in healthcare-related technology, such as tissue engineering and biotechnology, propel the artificial skin sector ahead.
People are becoming more aware of various skin care treatments, driving up demand for artificial skin. Auto rejection is not observed because artificial skin lacks immunogenic cells like dendritic cells. The artificial skin industry has seen substantial growth because of an increase in the frequency of vehicle accidents, burns, and trauma-related incidences. According to the World Health Organization, Burns is the fourth most prevalent type of trauma worldwide, with approximately 96 percent of fatal fire-related burns occurring in middle and low-income nations. Fire incidents are responsible for an estimated 265000 deaths worldwide each year. Due to the facts and significant drivers mentioned, the artificial skin market is expected to grow rapidly throughout the forecast period.
On the other hand, high costs associated with artificial skin implants, severe limitations on launching new products, and insufficient awareness in low-income economies are projected to hamper the global artificial skin market throughout the projection period. In addition, low and middle-income countries suffer from a lack of healthcare infrastructure and access to medical services. As a result, the market expansion is projected to be a challenge over the projection period.
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KEY MARKET INSIGHTS:
- Based on the application, the chronic wounds segment accounted for a significant portion of the global artificial skin market in 2021. This category is expected to rise during the forecast period. Chronic wounds include diabetic foot ulcers, venous leg ulcers, and pressure ulcers. Chronic wounds and diabetes, and obesity have become increasingly widespread as the global senior population has expanded. People with diabetes are more likely to develop persistent sores and infections. Diabetic foot and lower limb disorders affect between 40 to 60 million people globally with diabetes. As a result, chronic wounds are expected to play a vital role in the artificial skin market’s growth during the forecast period.
- To develop new ways to manufacture products, manufacturers invest a lot of money in research and development. North America is forecast to be the most dominant artificial skin market for the forecast period. Effective burn rehabilitation has made long-term artificial helpful skin. This is expected to be influenced by a favorable regulatory environment and a rise in burn injuries. More actions to create awareness of skin and tissue donation are being implemented to assist market growth. Donate Life America and other organizations are launching a growing number of public awareness campaigns to promote awareness of skin diseases that demand replacement surgeries and the importance of skin donation. Donate Life America is a non-profit organization that encourages people to donate their organs, eyes, and tissues.
- Chronic wounds affect 3% of the people over the age of 65 in the United States. According to the US government, the aged population will reach 55 million by 2020, in line with the rising number of chronic wound incidences. Wound care is predicted to cost USD 3.5 billion in the United States in 2019, according to the Wound Healing Society (WHS). In 2018, 12 million people were injured in traffic accidents in the United States. According to the National Safety Council, almost 4.4 million people were seriously injured in 2018, necessitating extensive medical care, including skin treatments. North America is predicted to lead the artificial skin market over the forecast period, owing to the aforementioned statistics and rising geriatric population, diabetes, and obesity-related complications.
- The Asia Pacific is one of the fastest-growing regions in the global artificial skin industry, thanks to advances in technologically advanced medical treatments and an increase in the prevalence of infections caused by burn injuries. Skin doctors in China, Japan, and India advocate using artificial skin in cosmetic treatments. Another factor promoting market expansion in this region is a rise in the number of people opting for plastic and cosmetic procedures due to increased per capita income.
- China’s leading artificial skin manufacturers have extensive distribution networks and high product penetration. Manufacturers of artificial akin are actively participating in trade exhibitions and international conferences to promote their products and develop potential R&D and distribution partnerships.
- The artificial skin market in India is likely to be fuelled by raising awareness of the need for artificial skin across the country and various benefits of artificial skin, such as improved wound healing and flexibility and infection prevention at the wound site.
- The global artificial skin market is extremely competitive, with a few key manufacturers dominating the market. Many small and medium-sized businesses (SMEs) are entering the artificial skin market, resulting in significant development during the projection period. Integra Lifesciences Corporation, Smith & Nephew Plc, Molnlycke Health Care AB, Medtronic, 3M, Baxter International, MiMedX, Avita Medical, Mylan, Johnson and Johnson Services, Solsys Medical Inc., Paul Hartmann AG, Coloplast A/C, and Convotec group Plc are the major players in the artificial skin market.
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SEGMENTS COVERED UNDER THIS REPORT:
By Product Type:
- Permanent
- Temporary
- Composite
By Replacement area:
- Dermal
- Epidermal
- Composed
By Material:
- Natural
- Synthetic
- Both
By Application:
- Acute wounds
- Chronic wounds
- Others
By End User:
- Hospitals
- Burn care Centers
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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