Global Regenerative Artificial Skin Market to Witness a CAGR of 21.5% during 2018-2024
NEW YORK, Sept. 25, 2018 (GLOBE NEWSWIRE) -- The global regenerative artificial skin market is expected to reach 2,411.6 million in 2024, at a CAGR of 21.5%. Factors driving the growth of the market are; high prevalence of burn cases worldwide, demand for efficient treatment of acid accident victims, and increasing need for wound healing treatment. Furthermore, increasing applications of artificial skin in cosmetics is further augmenting the market growth. Moreover, rapid advancement in technology is also propelling the growth of the market. However, the high cost of artificial skin, lack of proper structure and cell types, and stringent regulatory approval may hamper the market growth.
Skin is the largest external organ of human body that creates an interface between an outer environment and internal body environment. The artificial skin (regenerative skin) is a promising technology that can heal wounds swiftly without any pain. Artificial skin is generally prepared from collagen and also facilitates generation of new skin in an affected area. It is observed that bilayered artificial skin with compression therapy is better than simple dressing for venous ulcers. The major application of artificial skin involves treatment of individuals who have suffered severe tissue loss from trauma or any chronic disease. Moreover, U.S. Food and Drug Administration (FDA) has also approved artificial skin for the treatment of severe burns. Furthermore, artificial skin also plays a vital role in healing the tissue loss from plastic surgeries.
Key findings from the report:
-- The global regenerative artificial skin market is expected to reach 2,411.6 million by 2024 -- Based on material type, pressure sensors segment held the major market share in 2017, and is expected to continue its dominance over the forecast period -- On the basis of end-use, the hospital segment is expected to grow with the highest CAGR during the forecast period -- Key players operating in the global regenerative artificial skin market includes Integra Life Sciences Corporation, Mylan N.V., Johnson & Johnson Services, Inc., Smith & Nephew, and Mallinckrodt plc. among others.
Rapid Technological Advancements In Healthcare
High prevalence of burn cases, acid accidents, and life threatening skin diseases need immediate surgical procedures to restore skin and avoid future complications. Reconstruction of natural skin takes a long time after surgeries. Regenerative skin is an effective way in healing the wounds and can also be used for the treatment of chronic skin wounds, as it facilitates in the fast recovery of the dermis. Artificial skin has emerged as the best alternative treatment for skin related injuries.
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Global Artificial Skin Market - Regional Insight
North America is expected to dominate the global artificial skin market during 2018-2024. The growth is driven by presence of major key players in the region. Asia-Pacific is expected to register the highest CAGR during the forecast period. The growth is attributed to the rising incidences of the accidental burn cases, and growing number of cosmetic surgeries in the APAC region.
The report segments the global regenerative artificial skin market on the basis of material type, end-use, and region.
-- By Material Type: -- Temporary Skin Material o Single layer material o Bi-layered material -- Permanent Skin Material o Epidermal skin material o Dermal skin material -- Composite skin Material o Skin graft o Engineered skin material -- By End-User: o Hospitals o Clinics o Burn Care Centers o Others -- By Region: o North America -- US -- Canada -- Mexico o Europe -- Germany -- Italy -- France -- UK -- Spain -- Rest of the Europe o Asia-Pacific -- China -- India -- South Korea -- Australia -- Rest of Asia-Pacific o Central & South America -- Brazil -- Rest of Latin America o Middle East and Africa -- South Africa -- Saudi Arabia -- Rest of MEA
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