According to Precision Business Insights, the Skin Replacement Market research report provides industry size and growth.
Skin Replacement Market size was valued at USD 973.22 million in 2022 and is expected to grow at a CAGR of 5.9% from 2023-2029. assesses the market performance over seven years forecast period. The report analyses the market value forecast and provides strategic insights into the market driving factors, challenges that are hindering the market revenue growth over the forecast period. Skin is the highly dynamic largest organ in the human body. It is composed of two layers namely, epidermis and dermis. Skin protects the internal organs and tissues of body from microbes, toxins, temperature, and other harmful substances present in the environment. Skin replacement is carried during the burns or trauma conditions. Artificial skin protects the body against the infection and dehydration. Artificial skin is easy to produce from ordinary substances and is completely acceptable by victim'™s immune system. Increase in the incidence of burns, injuries and development of artificial skin products are anticipated to boost the skin replacement market over the forecast period. Moreover, increase in life expectancy, rise in disposable income, sophisticated healthcare infrastructure in developed countries, and increase in the prevalence of skin diseases such as skin cancer, psoriasis, and eczema are anticipated to propel the skin replacement market. However, lack of clinical support, high cost of skin replacement therapy, and lack of skilled professionals may restrain the growth of skin replacement market over the forecast timeframe.
The global skin replacement market is divided into following categories-
North America skin replacement market is growing at a significant rate owing to increase in the preference for aesthetic appeal. Europe skin replacement market has a lucrative growth rate due to increase in the incidence of burn injuries and rise in per capita income in the region. Asia Pacific skin replacement market expected to grow significantly owing to increase in the medical tourism in Asia Pacific region, rise in incidence of burn injuries. Latin America skin replacement market has a lucrative growth due to rise in skin replacement surgeries for aesthetic appeal in Brazil and Mexico.
Some of the key players in this market include Cynata Therapeutics Limited (Australia), Cellular Dynamics International (U.S.), Platelet BioGenesis, Inc. (U.S.), TissueGene, Inc. (U.S.), Tengion, Inc. (U.S.), L'™Oreal S.A. (France), Upside Biotechnologies (New Zealand). Some of the notable market developments include Upside Biotechnologies launching in 2016, a new skin replacement treatment for patients suffering from burns.
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