Bioengineered artificial skin market deals in developing substitutes of human skin for medical purposes such as treatment of severe burns and other conditions that lead to loss or damage of skin. Artificial skin helps in wound coverage and acts as a protective barrier while facilitating new tissue growth underneath. It is made up of biocompatible materials that integrate well with the skin cells for regeneration. Some key products in this industry include Integra Artificial Skin, Epicel, and Cartificial. The growing prevalence of burn-related injuries and skin loss disorders has significantly propelled the demand for such grafting solutions.
The Global Bioengineered Artificial Skin Market is estimated to be valued at US$ 3.32 Bn in 2024 and is expected to exhibit a CAGR of 16% over the forecast period from 2023 to 2030.
Key Takeaways
Key players: Key players operating in the Bioengineered Artificial Skin market are Genoskin, Smith and Nephew Inc., Genzyme Biosurgery, Vericel Corporation, AROA BIOSURGERY LIMITED, Integra LifeSciences Corp, COOK BIOTECH, Mölnlycke Health Care AB, Avita Medical, MiMedx Group, Inc., and Organogenesis Holdings Inc. Genoskin and Integra LifeSciences are currently leading the market with innovative skin graft products.
Growing demand: Rapidly increasing incidence of severe burn injuries, skin loss conditions like melanoma, and chronic non-healing wounds has considerably raised the demand for artificial skin substitutes. As per estimates, nearly 40,000 burn injuries occur annually in the US alone requiring skin grafting. This widespread need for treatment is propelling the market growth.
Global expansion: Leading players in this domain are increasingly focusing on expanding their geographical footprint through strategic collaborations and regional facilities. For instance, Organogenesis has partnered with several burn care centers across Europe to boost product access. Similarly, MiMedx has established extensive marketing networks overseas to address growing international demand.
Market drivers
The key drivers boosting the bioengineered artificial skin market include rising geriatric population susceptible to non-healing wounds, growing prevalence of burn injuries and skin disorders, and increasing rate of accidents and trauma cases. Moreover, ongoing technical advancements in skin tissue engineering combined with favorable regulatory approvals and reimbursement policies are supporting the industry expansion. Several market players are conducting clinical studies to develop more efficient skin substitutes with improved healing outcomes, which will likely translate into lucrative market opportunities in the coming years.
Current geopolitical tensions are impacting the growth of the Bioengineered Artificial Skin market in several ways. The ongoing conflict between Russia and Ukraine has disrupted supply chains and increased costs of raw materials like collagen and hyaluronic acid which are crucial ingredients in producing artificial skin grafts. Additionally, economic sanctions on Russia by Western nations have made it difficult for companies operating in European markets to procure supplies from Russia. This is restricting the production capacity of artificial skin manufacturers based in Europe.
The rising tensions between China and Taiwan also pose challenges. Taiwan is a major hub for semiconductor manufacturing and any escalation in conflict could negatively impact the availability of electronic components that are increasingly being used in bioengineered skin. This includes developing smart skin grafts integrated with sensors and circuits. Such supply chain disruptions will hamper research and development activities of various players in the short to medium term.
At the same time, military conflicts often lead to greater numbers of burn injuries and wounds requiring artificial skin grafts. This may drive higher demand from defense agencies and medical facilities in conflict zones. However, challenges in meeting this demand due to geopolitical issues will limit the ability to capitalize on such opportunities. Overall, ongoing geopolitical instabilities have introduced uncertainties that can impact investments and market expansion plans of companies engaged in this market over the forecast period. Strategies focusing on localization of production and diversifying supplier networks would help mitigate risks.
In terms of regions, North America currently dominates the bioengineered artificial skin market in terms of value and is expected to maintain its leading position during the forecast period as well. This is attributed to factors like rising burn and trauma cases, growing cosmetic surgeries, ongoing clinical research for developing advanced skin substitutes, and availability of reimbursements driving the adoption of artificial skin grafts in the region.
The Asia Pacific region is projected to witness the fastest growth during the same period owing to surging medical tourism, increasing healthcare expenditures, rising prevalence of chronic wounds, third degree burns and ulcers, and growing awareness about tissue-engineered skin products. Additionally, a vast patient pool and improving medical infrastructure in countries like China and India are creating significant growth opportunities for players operating in the APAC artificial skin market.
Artificial skin is the synthetic skin used to replace the human skin to save the patients from burns injuries and other skin infections.
It is also known as regenerative artificial skinChanging aspects of artificial skin market With increasing numbers of burns and injuries is leading the growth of artificial skin market.
Other factors such as-Increasing awareness about artificial skin treatment availabilityGrowing variation of the skin regeneration treatments in plastic surgery departmentIncreasing application of artificial skin into beauty and skincare will bolster the market growth.Though, expensive treatment and high cost of artificial skin products and complications related to adverse reaction of the surgery will hamper the growth of the artificial skin market.Market summary:Key market players are focusing on new and innovative product launches which will increase market share.
In addition to this, companies are advancing the artificial skin technologies with the use of robotics and maximize application of the products.
Collaborations, mergers, acquisitions and partnerships are key strategies adopted by global market.
In 2018, Shiseido Company occupied Olivo Labs, LLC for pioneering in XPL second skin technology.Regional analysis:North America and European market are key market in global artificial skin market owing to new and innovative skin technologies, adaption of skin treatments and presence of key market players.Asia-Pacific market have a lucrative growth opportunity due to increased adaption of artificial skin treatments especially in emerging economies such as India and china which have demands for treatment for burns and artificial skin.Read more Insights at https://www.precisionbusinessinsights.com/market-reports/artificial-skin-market/ Some of the key market players for global artificial skin market are-Integra Life Sciences Corporation (U.S.)Johnson & Johnson Services, Inc. (U.S.)Mylan N.V. (U.K.)Mallinckrodt plc (U.K)Smith & Nephew plc (U.K.)Shiseido Company, Limited (Japan)Greiner Group AG (Austria) The global artificial skin market is divided into following categories-By need for patient Spray-on SkinTemporary Skin GraftPermanent Skin GraftArtificial Electric Skin (e-Skin)Gelatin-Contained Artificial SkinComposite Biocompatible Epidermal Graft By end-users Retail PharmaciesHospitalsOthers Download free sample report at https://precisionbusinessinsights.com/request-sample?product_id=22301 By geographical regions North AmericaEuropeLatin AmericaAsia PacificMiddle East and Africa About Precision Business InsightsPrecision Business Insights is one of the leading market research and business consulting firm, which follow a holistic approach to solve needs of the clients.
