Bioengineered artificial skin or bioengineered skin substitutes are artificially cultured skin grafts that can be used as an alternative to skin autografts for wound repair and reconstruction. Artificial skin grafts are predominantly used to treat severely burn injured patients where the availability of autografts is limited. Bioengineered skin substitutes mimic natural skin both structurally and functionally. Commercially available artificial skin products include Integra Dermal Regeneration Template, Apligraf, and Orcel. Integra Dermal Regeneration Template is predominantly used for wound repair, reconstruction, and burn treatment.
The global bioengineered artificial skin market is estimated to be valued at US$ 1.2 Bn in 2023 and is expected to exhibit a CAGR of 16% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The increasing number of burn injuries and surgical skin grafting procedures are expected to propel the global bioengineered artificial skin market growth over the forecast period. As per the American Burn Association, there are over 500,000 burn injuries that require medical attention annually in the US alone. Moreover, skin grafting procedures are increasingly adopted to treat complex wounds, diabetic foot ulcers, and pressure ulcers. According to the Wound Healing Society, 6.5 million people in the US suffer from chronic wounds each year.
Artificial skin substitutes provide an effective wound closure solution in cases of limited skin availability. Bioengineered skin grafts can expedite wound healing and help restore skin barrier function. Additionally, genetically engineered skin substitutes mimic natural skin more closely and exhibit improved biocompatibility.
SWOT Analysis
Strength: Bioengineered artificial skin has the potential to improve wound healing outcomes and recoveries for patients. It aims to create a skin substitute that mimics natural skin in function and appearance. The material is designed to be biocompatible and promote cell growth.
Weakness: Creating a skin substitute that perfectly mirrors natural human skin remains a significant challenge. Early bioengineered skins may not integrate fully with a patient's natural tissues. Additional research is still needed to optimize skin substitute design and properties.
Opportunity: As the global population ages, the need for effective wound care and skin grafts is growing. Bioengineered skin can help address this rising demand for treatments. Developing countries with limited healthcare resources may also benefit from lower-cost skin substitutes.
Threats: Competing treatment methods like skin grafts and deep tissue therapies are well-established options. Gaining regulatory approvals and clinician acceptance for new skin substitutes takes significant time and resources. High development costs pose barriers to market entry and commercialization.
Key Takeaways
The global bioengineered artificial skin market is expected to witness high growth as technologies advance. With an aging population, demand is rising for treatments to address wounds, burns, and skin disorders. Bioengineered skin aims to provide an effective and permanent solution compared to temporary skin grafts.
Regional analysis: North America currently dominates the market due to concentration of key players and focus on wound care research. However, Asia Pacific is emerging as a fast-growing region with improving healthcare infrastructure and a growing medical resources sector. Countries like China, India, and South Korea are investing heavily in developing domestic skin regenerative therapies.
Key players: Key players operating in the bioengineered artificial skin market are Smith & Nephew, MiMedx, Integra LifeSciences, Organogenesis, Tissue Regenix, and Misonix. They are focusing on developing skin substitutes with refined properties, long-term biostability, and integration abilities. Partnerships between companies and research institutions aim to accelerate skin regeneration technologies.
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Get FREE Exclusive PDF Sample Copy@ https://www.upmarketresearch.com/home/requested_sample/5160 Artificial Skin Industry research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period.
Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
The report contains basic, secondary and advanced information pertaining to the Artificial Skin Industry global status and trend, market size, share, growth, trends analysis, segment and forecasts from 2018-2023.
The numerical data is backed up by statistical tools such as SWOT analysis, BCG matrix, SCOT analysis, PESTLE analysis and so on.
The generated report is firmly based on primary research, interviews with top executives, news sources and information insiders.
