Skin Substitute Market Trends and Forecast
The future of the global skin substitute market looks promising with opportunities in the hospital & clinic and ambulatory surgery center markets. The global skin substitute market is expected to grow with a CAGR of 8.5% from 2024 to 2030. The major drivers for this market are increasing prevalence of chronic wounds and diabetic ulcers, advancements in biotechnology for tissue engineering, and rising demand for cosmetic surgeries and skin grafts.
• Lucintel forecasts that biological is expected to witness the highest growth over the forecast period.
• Within this market, hospital & clinic is expected to witness the higher growth.
• APAC is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the Skin Substitute Market
• United States: Several companies are focusing on FDA approvals for advanced bioengineered skin substitutes, aiming to improve wound healing times by 30%. Government initiatives include grants for research in regenerative medicine.
• Germany: Key companies are expanding their production capacities to meet the rising demand for skin substitutes in wound care. The government has allocated funding to support innovations in biomaterials for medical applications.
• Japan: Companies are collaborating with universities to develop next-gen skin substitutes using stem cell technology, targeting commercialization within two years. Government targets include reducing healthcare costs related to chronic wound care by 20%.
• Australia: Leading firms are launching clinical trials for new skin substitute products with enhanced antimicrobial properties. Government initiatives focus on integrating advanced wound care technologies into public healthcare systems to reduce hospitalization durations.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Skin Substitute Market by Segment
The study includes a forecast for the global skin substitute market by type, application, end use, and region.
Skin Substitute Market by Type [Value from 2018 to 2030]:
• Biological
• Autografts
• Allografts
• Xenografts
• Synthetic
Skin Substitute Market by Application [Value from 2018 to 2030]:
• Acute Wounds
• Chronic Wounds
Skin Substitute Market by End Use [Value from 2018 to 2030]:
• Hospitals & Clinics
• Ambulatory Surgery Centers
• Others
Skin Substitute Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Skin Substitute Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies skin substitute companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the skin substitute companies profiled in this report include-
• Amarantus BioScience Holdings
• Organogenesis
• Acelity
• Smith & Nephew
• BSN Medical
• Molnlycke Health Care
• Integra LifeSciences Corporation
• Medtronic
• Tissue Regenix
• Stratatech Corporation
Recent Development in the Skin Substitute Market
• Smith & Nephew: Launched the PICO 7 and PICO 14 Single Use Negative Pressure Wound Therapy Systems, enhancing treatment options for wounds requiring skin substitutes.
• Integra LifeSciences: Expanded its product line with the launch of the Integra® Dermal Regeneration Template Single Layer "Thin," targeting a broader range of skin defects and improving patient outcomes.
• Organogenesis: Introduced NuShield®, a new dehydrated placental allograft, to improve chronic wound management, providing an effective skin substitute solution.
• MiMedx: Announced positive clinical trial results for its EpiFix® product, demonstrating significant benefits in the healing of diabetic foot ulcers.
• Acelity: Released the V.A.C. VERAFLO™ Therapy System, integrating negative pressure wound therapy with skin substitutes to enhance the healing process in complex wounds.
Features of the Global Skin Substitute Market
Market Size Estimates: Skin substitute market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Skin substitute market size by type, application, end use, and region in terms of value ($B).
Regional Analysis: Skin substitute market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, end uses, and regions for the skin substitute market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the skin substitute market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for skin substitute market?
Answer: The global skin substitute market is expected to grow with a CAGR of 8.5% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the skin substitute market?
Answer: The major drivers for this market are increasing prevalence of chronic wounds and diabetic ulcers, advancements in biotechnology for tissue engineering and rising demand for cosmetic surgeries and skin grafts.
Q3. What are the major segments for skin substitute market?
Answer: The future of the skin substitute market looks promising with opportunities in the hospital & clinic and ambulatory surgery center markets.
Q4. Who are the key skin substitute market companies?
Answer: Some of the key skin substitute companies are as follows:
• Amarantus BioScience Holdings
• Organogenesis
• Acelity
• Smith & Nephew
• BSN Medical
• Molnlycke Health Care
• Integra LifeSciences Corporation
• Medtronic
• Tissue Regenix
• Stratatech Corporation
Q5. Which skin substitute market segment will be the largest in future?
Answer: Lucintel forecasts that biological is expected to witness the highest growth over the forecast period.
Q6. In skin substitute market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness the highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the skin substitute market by type (biological, autografts, allografts, xenografts, and synthetic), application (acute wounds and chronic wounds), end use (hospitals & clinics, ambulatory surgery centers, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Skin Substitute Market Market, Skin Substitute Market Market Size, Skin Substitute Market Market Growth, Skin Substitute Market Market Analysis, Skin Substitute Market Market Report, Skin Substitute Market Market Share, Skin Substitute Market Market Trends, Skin Substitute Market Market Forecast, Skin Substitute Market Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.