The global skin replacement and substitutes market is expected to generate a revenue of $1,202.2 million by 2024, advancing at a CAGR of 6.3% during the forecast period. Factors driving the growth of the market include increasing cases of burns, rising inclination of consumers to spend on appearance, and increasing incidence of skin diseases, across the globe, according to P&S Intelligence.
Insights into Market Segments
On the basis of product, the skin replacement and substitutes market is classified into acellular, cellular, and others. Among various products, cellular was the second-largest revenue generating category in the market, with 18.4% share in 2018. This is mainly on account of the fact that it can be used for deep partial and full thickness burn wounds.
Based on class, the skin replacement and substitutes market is categorized into class III, class II, and class I. The class II category of skin substitutes are similar to human epidermis, and therefore can be used to substitute the epidermal layer. This category is expected to hold 36.3% share in the market by 2024. Furthermore, the class III substitutes are able to replace both dermis and epidermis, and therefore are expected to generate the largest revenue in the market, throughout the analysis period.
On the basis of application, the skin replacement and substitutes market is classified into burns, ulcers, cosmetic surgery, and others. The burns category is expected to generate the largest revenue share, of 42.6%, by 2024, in the market. Since skin replacement is an important treatment for burns, the market is expected to flourish immensely in this application area in the coming years.
On the basis of end user, the skin replacement and substitutes market is categorized into wound care clinics and hospitals, beauty and cosmetics industry, and others. The beauty and cosmetics industry, as an end-user category, is expected to occupy the second-largest position in the market during the forecast period, mainly due to the increasing consciousness toward appearance.
Asia-Pacific (APAC) Skin Replacement and Substitutes Market to Observe the Highest Growth in the Coming Years
The skin replacement and substitutes market in APAC is expected to witness lucrative growth, witnessing a CAGR of 6.7% during the forecast period. The market in APAC is led by factors such as increasing cases of burns, rising prevalence of skin diseases, and improving healthcare systems.
Further, with the rise in the prevalence of skin disorders, personal spending on skin treatment has also increased significantly in recent years. Thus, with this increasing personal spending in Asian countries, the overall skin replacement and substitutes market is expected to increase in the coming years.
Browse report overview with 357 tables and 53 figures spread through 279 pages and detailed TOC on "Skin Replacement and Substitutes Market Research Report: By Product (Acellular, Cellular), Class (Allografts, Xenografts, Cultured Epithelial Autograft, Collagen Scaffolds, Acellular Dermal Matrix, Amniotic Membrane, Synthetic Skin), Application (Burns, Ulcers, Cosmetic Surgery), End-User (Wound Care Clinics and Hospitals, Beauty and Cosmetics Industry), Regional Insight (U.S., Canada, Germany, U.K., France, Italy, Spain, China, Japan, India, Brazil, Mexico, Colombia, Argentina, South Africa, Saudi Arabia, U.A.E.) – Global Industry Analysis and Forecast to 2024" at:https://www.psmarketresearch.com/market-analysis/skin-replacement-and-substitutes-market
Skin Replacement and Substitutes Market Competitive Landscape
The global skin replacement and substitutes market is consolidated in nature. Acelity L.P. Inc., MiMedx Group Inc., Organogenesis Inc., Vericel Corporation, FUJIFILM Cellular Dynamics Inc., Smith & Nephew plc, Integra LifeSciences Holdings Corporation, AlloSource, and MatTek Corporation are some of the major players in the market. These companies are adopting product launches, as a key strategy, to maintain their leading position in the market.
For instance, in April 2018, AlloSource and Stryker Corporation announced the launch of ProChondrix CR, a cryopreserved osteochondral allograft. ProChondrix CR is a single-stage, natural solution for patients in need of articular cartilage repair. Stryker Corporation will distribute ProChondrix CR across multiple treatment areas to help expand access for patients.
SKIN REPLACEMENT AND SUBSTITUTES MARKET SEGMENTATION
Market Segmentation by Product
Market Segmentation by Class
Market Segmentation by Application
Market Segmentation by End User
Market Segmentation by Geography