The artificial skin market deals with products that act as a temporary or permanent synthetic skin replacement for burn victims or those suffering from skin diseases or disorders. Artificial skins contain live cells or are made from biocompatible materials that mimic natural skin's structure and functions. They offer barrier protection against infection and fluid loss while promoting wound healing. With rising burns and traumatic injuries worldwide, the demand for skin grafts and substitutes is expanding rapidly.
The Global bioengineered artificial skin market is estimated to be valued at US$ 3.32 Billion in 2024 and is expected to exhibit a CAGR of 16% over the forecast period 2023 to 2030.
Key Takeaways
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.
The global artificial skin market is driven by the rising incidence of burn injuries, especially in developing nations where industrial safety norms are still evolving. As per the World Health Organization (WHO), over 300,000 people die annually from burns worldwide. Moreover, the increasing application of artificial skins in wound care management and reconstruction surgeries is also fueling market revenue.
Technological advancements focus on developing skin substitutes that resemble natural skin more closely. Researchers are working on creating multilayered, vascularized artificial skins with hair follicles, sweat glands, and seamless integration with the recipient's skin. Such next-gen artificial skins can help achieve superior cosmetic outcomes and quality of life for patients.
Market Trends
Some key trends in the artificial skin market include the development of bioprinted and 3D printed skin substitutes. Researchers are adopting advanced bioprinting methods to develop patient-specific skin substitutes by combining skin cells and biomaterials through 3D printing. This facilitates mass production of artificial skins with precise anatomical features.
Another trend gaining traction is the incorporation of advanced therapies into artificial skins. For example, combining stem cell therapy and skin grafting/substitutes to accelerate wound healing. Such combination therapies may enable developing "smart skins" capable of tissue regeneration.
Market Opportunities
The growing demand for skin tissue engineering and regenerative therapies in underpenetrated regions presents significant opportunities for artificial skin market players. Expanding access to advanced wound care and burns management in rural healthcare systems also opens lucrative prospects.
Customization capability is another opportunityarea. As artificial skins become more affordable, customizable options specific to wound type, location, and patient needs can augment the market potential.
Impact of COVID-19 on Bioengineered Artificial Skin market growth
The COVID-19 pandemic has significantly impacted the global bioengineered artificial skin market. During the initial phase of the pandemic, most countries imposed strict lockdowns and restrictions on non-essential medical procedures to limit the spread of the virus and prevent overwhelming healthcare systems. This resulted in postponement of various chronic condition treatments as well as elective surgeries where bioengineered artificial skin is commonly used. Skin grafting procedures were deferred to prioritize treatment of critical COVID-19 patients. The supply chains and production processes of key players in the market were disrupted due to restrictions on transportation and workforce shortages.
However, with relaxations in restrictions and improvement in healthcare infrastructure preparedness in 2021, the demand for artificial skin grafts is recovering. There is growing need for temporary wound coverage and treatment of severe burns in COVID-19 infected patients. Several programs are being launched by market players and healthcare organizations to educate people on signs of infection and importance of timely treatment. Teleconsultation services are encouraging those with chronic wounds to continue their prescribed treatment regimen during the pandemic. The future growth prospects of the market depend on successful vaccine distribution globally to control the spread and emergence of new virus strains. Market players will need to focus on expanding manufacturing capacities and ensuring steady supply even during crisis situations.
Regions with highest concentrations of Bioengineered Artificial Skin market value
North America currently accounts for the largest share of the global bioengineered artificial skin market in terms of value. This is attributed to factors such rising incidence of burn injuries and chronic wounds, growing elderly population, favorable reimbursement policies, presence of advanced healthcare infrastructure and key market players in the region. Within North America, the US dominates as the most valuable country-level market owing to high treatment costs and rapid adoption of advanced treatment technologies.
Asia Pacific is projected to be the fastest growing regional market during the forecast period driven by large patient pools, increasing healthcare spending, growing medical tourism industry and rising awareness about available treatment options. China and India are emerging as high potential markets in the region supported byrising incomes, expansion of private healthcare facilities and gradual shift towards organized healthcare sectors.
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