Skin Replacement Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016-2024
Cosmetic industry has been a success story over the last few years compared to other consumer products. In cosmetic industry, skin replacement market is gaining remarkable share worldwide. The trend is attributed primarily to burn injuries and technological adoption to treat various skin-related issues. Burnt skin induces the growth of microbes and bacteria that ultimately results in rapid loss of body fluids. Thus, to protect the skin traditionally skin grafts from the donors or cadavers were used. However, uptake of these substitutes was impeded due to probability of graft rejection and unavailability of large skin patch. Hence, to resolve the problem synthetic skin substitutes came into picture to treat deep skin wounds which promotes regeneration of artificial skin. These technological advancements have led to enhanced survival of burned patients and in the past years several skin replacement products have been used for the treatment of chronic wounds. Skin replacement market is likely to grow at a relatively moderate pace in-between 2016 to 2020 before taking upward trend to 2023. The average sales is expected to go above 1.5X between 2016 and 2023.
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Digital disruption along with increasing penetration of 3D printing technology is expected to drive the skin replacement market
Burn injuries have increased over the last few years. According to independent estimates, over 1.5 million population in the U.S. suffers from burn related skin loss each year. Similarly, in the United Kingdom approximately 175,000 report to emergency departments for the burn injuries and of these approximately 13,000 require hospital admissions. As a result, skin replacement product is expected to gain traction with innovative products being launched in the market including artificial skin. The industry will be further driven by increasing 3D printing technology in healthcare. Companies such as L’Oreal and Proctor & Gamble leverages 3D printing technology to develop artificial skin.
North America to dominate the skin market with US$ 25 Bn spending on wound treatment and presence of over 14% geriatrics population
The skin replacement market report covers market analysis across regions – North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
Global skin replacement market is witnessing a positive trend with North America and Europe as the main engine of growth. North America and Europe are expected to capture a major chunk of the market before easing out to Asia Pacific market by 2020.
North America currently represents the largest regional market for skin replacement products followed by Europe. A rise in the number of burn cases has been majorly driving the skin replacement substitutes market in these two regions.
Penetration rate of skin replacement products in Asia Pacific is still at its nascent stage. However, the growth will gain upward trend by mid of forecast period. The growth will be driven by India and Japan.
Companies such as L’Oreal and Proctor & Gamble leverages 3D printing technology to develop artificial skin replacement products
Some of the key players in the skin replacement market include Platelet BioGenesis, Tengion, and Cellular Dynamics International, TissueGene, Inc., Cynata Therapeutics Limited, L’Oreal and Proctor & Gamble.
Companies need to emphasis on value creation by channelizing product manufacturing capability with digital marketing. Close collaboration with leading life science universities could further help companies to deliver innovative skin replacement products in the market.
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Coherent Market Insights has segmented the skin replacement products market by
On the basis of technology, 3D printing technology is expected to be the attractive segment driving huge revenue for market players. Skin grown in laboratories will dominate the market throughout the forecast period.
Various types of skin replacement products have been divided in three major categories namely permanent skin replacement products, temporary skin replacement products and cultured epidermal skin replacement products.
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