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The permanent artificial skin market size has the potential to grow by USD 4.41 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.
This report provides a detailed analysis of the market by end-user (hospitals and other healthcare centers) and geography (APAC, Europe, North America, and ROW). Also, the report analyzes the market’s competitive landscape. It offers information on several market vendors, including AVITA Medical Ltd., Aroa Biosurgery Ltd., Eucare Pharmaceuticals Pvt. Ltd., Integra LifeSciences Corp., Mallinckrodt Plc, MedSkin Solutions Dr. Suwelack AG, MiMedx Group Inc., Misonix Inc., Organogenesis Holdings Inc., and Smith & Nephew Plc.
The permanent artificial skin market is fragmented. To maintain their market positions, key vendors are increasing their R&D for the development of new products. MedSkin Solutions Dr. Suwelack AG, MiMedx Group Inc., Misonix Inc., Organogenesis Holdings Inc., and Smith & Nephew Plc are some of the major market participants. Although the increase in R&D funding will offer immense growth opportunities, the high cost of treatment and lack of reimbursements will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this permanent artificial skin market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this permanent artificial skin market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading companies, including:
North America was the largest permanent artificial skin market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Increased awareness and high adoption of bioengineered skin substitutes among healthcare practitioners will significantly influence permanent artificial skin market growth in this region.
Almost 35% of the market’s growth will originate from North America during the forecast period. The US is a key market for permanent artificial skin in North America. However, market growth in this region will be slower than the growth of the market in other regions.
One of the major reasons for the increasing preference for hospitals is the high availability of trained professionals who can provide adequate treatment for wounds. The high preference for hospital treatment makes hospitals leading revenue generators in the permanent artificial skin market. Another factor leading to the increasing revenue generation in hospitals is the increasing incidence of burn injuries. This report provides an accurate prediction of the contribution of all the segments to the growth of the permanent artificial skin market size.
The risk of chronic wounds is high among the geriatric population as they are susceptible to several chronic diseases, including diabetes and obesity. Chronic wounds such as diabetic foot ulcers (DFUs), pressure ulcers, and leg ulcers caused due to diabetes mellitus, arterial perfusion, or unrelieved pressure, require a longer time to heal than normal wounds. Vendors are focusing on the development of bioengineered permanent artificial skin substitutes, which can be used for healing venous leg ulcers and diabetic foot ulcers. For instance, Dermagraft offered by Organogenesis is a dermal skin substitute which accelerates the healing rate of wounds by producing proteins and restoring the wound bed. With increasing incidences of diabetic ulcers among the geriatric population, the demand for permanent artificial skin substitutes is also bound to increase.
Several organizations around the world are taking up initiatives to raise awareness about skin diseases that require replacement surgeries and the importance of skin donation. This will increase the availability of skin required for making permanent artificial skin substitutes, which in turn, will boost the growth of the market at a CAGR of almost 19% during the forecast period.
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Customer landscape
Geographic Landscape
Drivers, Challenges, and Trends
Vendor Landscape
Vendor Analysis
Appendix
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