PUBLISHER: The Business Research Company | PRODUCT CODE: 1619460
PUBLISHER: The Business Research Company | PRODUCT CODE: 1619460
Bioengineered skin substitutes are artificial or lab-grown materials designed to mimic the function and structure of human skin. They are created using biological, synthetic, or a combination of materials and are primarily used to treat severe skin injuries or conditions that require skin replacement or regeneration, such as burns, chronic wounds, ulcers, or reconstructive surgeries.
The main types of bioengineered skin substitutes include acellular, allogeneic, xenogeneic, autologous, and others. Acellular skin substitutes are made from skin tissues with all cells removed, leaving only the structural framework. These substitutes are used for various applications, including acute and chronic wounds, and are utilized by different end users such as wound care centers, hospitals, specialty clinics, and others.
The bioengineered skin substitutes market research report is one of a series of new reports from The Business Research Company that provides bioengineered skin substitutes market statistics, including bioengineered skin substitutes industry global market size, regional shares, competitors with a bioengineered skin substitutes market share, detailed bioengineered skin substitutes market segments, market trends and opportunities, and any further data you may need to thrive in the bioengineered skin substitutes industry. This bioengineered skin substitutes market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The bioengineered skin substitute market size has grown rapidly in recent years. It will grow from $1.92 billion in 2023 to $2.18 billion in 2024 at a compound annual growth rate (CAGR) of 13.4%. The growth during the historic period can be attributed to rising investment in research and development, improvements in healthcare infrastructure, an increase in reconstructive and cosmetic surgeries, higher healthcare spending, and better patient outcomes.
The bioengineered skin substitute market size is expected to see rapid growth in the next few years. It will grow to $3.63 billion in 2028 at a compound annual growth rate (CAGR) of 13.6%. The anticipated growth in the forecast period can be attributed to the development of new biomaterials, evolving regulatory frameworks, government initiatives and funding, cost-effectiveness and long-term benefits, and a rise in aesthetic and reconstructive surgeries. Key trends during this period include advancements in regulatory frameworks, innovative biomaterials, cell-based approaches, enhanced vascularization techniques, and advanced biofabrication methods.
The increasing incidence of burn cases is expected to drive the growth of the bioengineered skin substitute market in the future. Burn cases involve injuries from damage to the skin or other tissues caused by heat, radiation, electricity, friction, or chemicals. These incidents often result from inadequate safety measures, improper use of flammable materials, and insufficient awareness of fire hazards and safety protocols. Bioengineered skin substitutes offer temporary or permanent solutions for damaged skin, aiding in healing, reducing infection risk, and enhancing both functional and cosmetic outcomes. For example, an analysis of inpatient care at burn centers published by the American Burn Association in November 2023 reported 30,135 burn cases in the U.S. in 2022. This contributed to a five-year total of 152,312 cases, with about 1 in 10,000 people needing inpatient care annually. This increasing number of burn cases is fueling the growth of the bioengineered skin substitute market.
Leading companies in the bioengineered skin substitute market are advancing the development of fish skin grafts to improve the effectiveness and versatility of skin substitutes. Fish-skin grafts are wound-healing materials made from processed fish skin, which support tissue regeneration and repair. For instance, in February 2024, Kerecis, a wound care company based in Iceland, launched Shield Standard, a bioengineered skin substitute featuring intact fish skin with a silicone backing. This product uses fish skin as a natural scaffold for healing, with minimal processing to preserve its beneficial components. It provides biocompatibility with human skin, retains natural moisture, and reduces infection risk, making it suitable for treating various wounds, including chronic and acute injuries.
In August 2023, Coloplast A/S, a healthcare company based in Denmark, acquired Kerecis for $1.3 billion. This acquisition is aimed at enhancing Coloplast's position in the advanced wound care market, especially within the US-centric biologics segment. Kerecis, an Iceland-based manufacturer, specializes in bioengineered skin substitutes derived from fish skin.
Major companies operating in the bioengineered skin substitutes market are Stryker Corporation, DePuy Synthes, Smith & Nephew Plc, ConvaTec Group PLC, Mallinckrodt Pharmaceuticals plc, Integra LifeSciences Holdings Corporation, Gunze Limited, Organogenesis Inc., LifeNet Health Inc., MiMedx Group Inc., Vericel Corporation, AlloSource Inc., Sientra Inc., PolyNovo Limited, Avita Medical Limited, Tissue Regenix Group, Amarantus Bioscience Holdings Inc., PolarityTE, Promethean LifeSciences Inc., Regenicin Inc.
North America was the largest region in the bioengineered skin substitutes market in 2023. The regions covered in the bioengineered skin substitutes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the bioengineered skin substitutes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The bioengineered skin substitutes market consists of sales of products including apligraf, dermagraft, epicel, transcyte, and orcel. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Bioengineered Skin Substitutes Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on bioengineered skin substitutes market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for bioengineered skin substitutes ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The bioengineered skin substitutes market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.