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Nov-2021

Global Artificial Skin Market Is Predicted To Grow At 6.4% From 2021 to 2026

Global Artificial Skin Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report – Segmented By Product Type, Replacement Area, Material, Application, End User & Region – Industry Forecast (2021 to 2026)

The global artificial skin market size is projected to be growing at a CAGR of 6.4% from 2021 to 2026.

Impact of COVID-19 on the global artificial skin market:

Medical conditions such as pneumonia, acute and severe breathing problems, multiple organ failure, and, in severe cases, death are occurring due to the COVID-19 pandemic. With the large geriatric population and high infection rate, the healthcare system's focus has shifted to meet the immediate needs across the globe. The global market for artificial skin has grown slowly during the pandemic due to the lack of emergencies requiring artificial skin for repair. However, as the countries lift social distancing and lockdowns, the global artificial skin market is expected to grow accordingly.

DRIVING FACTORS:

The global artificial skin market is expected to be driven by the increasing incidence rate of burns, high healthcare expenses, the prevalence rate of chronic and acute wounds such as diabetic foot ulcers, and advancements in technology such as aerosols and R&D. Burns are a common form of injury. It is estimated that 266,000 deaths occur each year worldwide due to fires injury.

According to the International Diabetes Federation, approximately 465 million adults live with diabetes, which is anticipated to reach 710 million by 2045, increasing the rate of diabetic ulcers. Complications of the diabetic foot and lower limbs affect nearly 42 to 62 million people worldwide. Cancers can lead to deformities that require artificial skin to heal. According to the Skin Cancer Foundation, more than 5.5 million cases of non-melanoma skin cancer are reported each year. In contrast, more than 3.4 million people receive the same treatment in the United States. The growing rate of chronic disease and acute injuries is anticipated to drive the global artificial skin market growth during the forecast period.

RESTRAINING FACTORS:

However, several factors, such as the high cost associated with artificial skin implantation, lack of sterile products, issues with nutritional supply, strict regulations regarding new product launches, and low awareness about the products, are expected to restrain the growth rate of the global artificial skin market during the forecast period.

MARKET SEGMENTATION:

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

KEY MARKET INSIGHTS:

Based on the replacement area, the global artificial skin market is expected to be dominated by dermal and epidermal skin materials due to artificial skin regenerative technology used to treat deep skin wounds and plastic surgery. This can be attributed to an increase in people opting for cosmetic procedures and plastic surgeries due to the rise in per capita income.
Based on the end-user, health care providers in hospitals use artificial skin to treat chronic wounds and artificial skin technology to treat burnt skin.
In terms of region, North America is expected to dominate the market during the forecast period. In the United States, over 3% of the population over 65 suffer from chronic wounds. The U.S. government estimates that the elderly population will reach 60 million by 202, commensurate with the increase in chronic injury incidents. Additionally, the increase in acute injuries and resultant loss of skin is increasing at a high pace. The number of road accidents in the United States was 15 million in 2019. According to the National Safety Council, around 4.5 million people were seriously injured in 2019, requiring significant medical attention, including skin treatments.
The market in Europe and Asia-Pacific is believed to be driven by increased awareness and improved healthcare facilities. As a result, the regional market in the Asia Pacific is projected to grow rapidly during the forecast period.
The increased demand for artificial skins has led to an increase in the adoption of expansion strategies by manufacturers to expand their geographic footprint by introducing innovative products into new regions through strategic collaborations. In addition, local authorities are adopting policies to attract foreign investors into respective manufacturing sectors by reducing tariffs and trade tariffs to create more jobs. As a result, the prominent players in the artificial skin market are Integra Lifesciences Corporation, Medtronic, 3M, Baxter International, Avita Medical, Mylan, Johnson and Johnson Services, and Solsys Medical Inc., among others.

RECENT MARKET DEVELOPMENTS:

In March 2019, AVITA Medical partnered with COSMOTEC, a subsidiary of M3 Group Company, to market and distribute RECELL in Japan, which is used to treat burns and other injuries. The product launch in Japan is expected to provide a lucrative opportunity for AVITA Medical.
In April 2019, the South Korean company T&R Biofab filed a patent for its 3D bioprinting technology to create artificial skin. The 3D technology prints dermal and epidermal cells to form a porous 3D structure skin-like structure, which resembles real tissue.
In May 2019, Misonix, Inc. collaborated with Solsys Medical, LLC, a regenerative medicine company. This acquisition will help Misonix expand its portfolio with the addition of Solsys Medical wound care solutions.
In 2019, 3M took over advanced wound management for Acelity Inc. and its subsidiaries KCI, a global medical technology company.

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