- Synthetic Skin
Skin Replacement Market size was valued at USD 973.22 million in the year 2021 and is anticipated to value at USD 1453.73 Million till 2028 witnessing a CAGR rate of 5.9% during the forecast period 2022-2028. The increased prevalence of dermatological illnesses is a primary driver of the skin replacement market's demand. Another major element driving the skin replacement market share is the growing number of burn victims. According to World Health Organization studies, most of the 180,000 global deaths attributable to burn injuries each year occur in low and middle-income nations. Globally increasing life expectancy rate and advancement in skin replacement technology and increasing spending on healthcare is expected to be the key growth driver for the skin replacement market during the study period. The development of artificial skin replacement goods has made significant progress. Continued research indicates that the market for skin replacement products will grow, and each new product appears to carve out its position in the field. Increased life expectancy, rising disposable income, and favorable demographics contribute to the worldwide skin replacement market's rise. Over the projected period, the worldwide skin replacement market is expected to benefit from an increase in approvals for novel skin treatment procedures. Furthermore, prominent players' increased focus on research and development operations is expected to boost market expansion in the future. Based on graft type, the auto-grafts segment accounted for the largest market share in 2021, and the market for the same segment is anticipated to grow faster at the highest rate during 2021â€“2028. The market growth for the auto-grafts segment can be attributed to the wide use of autografts for treating open burns and wounds.
Recent Market Developments:
In Feb 2022,Â AVITA Medical, Inc. a regenerative medicine company announced that the United States Food and Drug Administration (FDA) has reviewed and approved the premarket approval application (PMA) supplement for RECELLÂ® Autologous Cell Harvesting Device, an enhanced RECELL System aimed at providing clinicians a more efficient user experience and simplified workflow. The RECELLÂ® System is a device that enables healthcare professionals to produce a suspension of Spray-On Skinâ„¢ Cells using a small sample of the patientâ€™s own skin for the treatment of acute thermal burns.
In April 2021, MedSkin Solutions Dr. Suwelack AG expands its MatriDermÂ® portfolio with the launch of MatriDermÂ® Flex Dermal Matrix and MatriDermÂ® Fenestrated Dermal Matrix. MatriDermÂ® is a single-use three-dimensional acellular dermal matrix composed of bovine collagen fibers and bovine elastin.
Fastest Growing Market
A rise in global life expectancy, developments in skin replacement technology, and increasing healthcare spending are predicted to be the key growth drivers for the skin replacement market during the study period. However, the market would be hampered by some other factors. Lack of clinical support, the high cost of skin replacement therapy, and the lack of skilled professionals may restrain the growth of the skin replacement market over the forecast timeframe.
The skin replacement market is projected to expand at a CAGR of 5.9% during the forecast period
Upside Biotechnologies, Kinetics Concepts, Inc, Humeca BV, Smith and Nephew plc, Avita Medical Limited, MiMedx Group, Inc, Mallinckrodt Plc, MedSkin Solutions Dr. Suwelack AG, Organogenesis Inc, Vericel Corporation.
North-America is the fastest-growing region for skin replacement market