(IT-NEWSWIRE.COM, June 11, 2018 ) Global artificial skin market was valued at US $ XX Mn and expected to grow at XX% Compound Annual Growth Rate (CAGR) over 2018 to 2024.
Market Outline: Artificial Skin Market
Artificial skin is the synthetic skin used to replace the human skin to save the patients from burns injuries and other skin infections. It is also known as regenerative artificial skin. Artificial skin is a collagen scaffold that induces the regeneration of the skin. It is used to treat the patients with the major burns, deep wounds and also used during the plastic surgery.
Market Dynamics: Artificial Skin Market
Global artificial skin market is driven by the increase in the number of injuries and burns worldwide. Furthermore, growing adaptation of the skin regeneration treatments in plastic surgery and rise in awareness of artificial skin products expected to boost the market growth. In addition, advancements in the artificial skin technologies such as autologous spray on skin and expansion of the applications of artificial skin into the beauty and skin care segments projected to bolster the market growth over the forecast period. However, high cost of the treatment and artificial skin products and complications such as acceptance by the body projected to hamper the market growth over the forecast period.
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Market Scope: Artificial Skin Market
Artificial Skin Market is segmented based on need for patients, distribution channel and geography
Based on need for patient, global artificial skin market is segmented into
• Spray-on Skin
• Temporary Skin Graft
• Permanent Skin Graft
• Artificial Electric Skin (e-Skin)
• Gelatin-Contained Artificial Skin
• Composite Biocompatible Epidermal Graft
Based on distribution channel, global artificial skin market is segmented into
• Retail Pharmacies
Based on geography, global artificial skin market is segmented into
• North America
• Latin America
• Asia Pacific
• Middle East and Africa
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Market Summary: Artificial Skin Market
Companies operating in global artificial skin market are focusing on the develepment and launch of the new prodcts into the market in order to expand their market share. For instance, In July 2013, Greiner Bio-One has launched artificial skin, ThinCert cell culture inserts, to use in life sciences research and product testing applications. Furthermore, companies also advancing the artificial skin technologies to use with the robotics and maximizing the applications of artificial skin. In addition, companies also involving in collaborations and acquisitions to expand their market share and position in the global market. For instance, January 2018, Shiseido Company, Limited has acquired Olivo Laboratories, LLC along wot its pioneering XPL second skin technology.
Regional Analysis: Artificial Skin Market
Geographically, global artificial skin market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Europe and North America are projected to remain key markets over the forecast period owing to the advancements in the skin technologies, adaptation of artificial skin and presence of key market players. Asia Pacific artificial skin market is expected to have lucrative growth opportunity rates owing to increase in the adaptation of the artificial skin treatments, growing healthcare spending and advancements in the infrastructure. Especially, Emerging countries such as India and China projected to have the significant growth during the forecast period due to the increase in burns, injuries and adaptation of artificial skin treatments. According to World Health Organization (WHO) in India, over 1,000,000 people are moderately or severely burnt every year.
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Competition Assessment: Artificial Skin Market
Some of the players in the global artificial skin market include:
• Integra Life Sciences Corporation (U.S.)
• Johnson & Johnson Services, Inc. (U.S.)
• Mylan N.V. (U.K.)
• Mallinckrodt plc (U.K)
• Smith & Nephew plc (U.K.)
• Shiseido Company, Limited (Japan)
• Greiner Group AG (Austria)
Notable Market Developments: Artificial Skin Market
• In September 2017, Avita Medical has submitted the application for its ReCell Autologous Cell Harvesting Device (Spray On-Skin), used in the treatment of burns.
Key Features of the Report:
• The report provides granular level information about the market size, regional market share, historic market (2013-2017) and forecast (2018-2024)
• The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
• The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
• The report tracks recent innovations, key developments and startup’s details that are actively working in the market
• The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
• The report analyses the impact of the socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
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