Every year, 180,000 people are burned to death, says the World Health Organization (WHO). Moreover, “Non-fatal burn injuries are a leading cause of morbidity.”, in which case victims suffer significant skin damage. Similarly, there are several injuries and infectious diseases, such as necrotizing fasciitis and leprosy, which require skin grafting from one part of the body to another. Earlier, many people, especially in developing countries, would merely get the minimum treatment done and live the rest of their lives with damaged skin, but with technological advancements and increasing healthcare affordability, the picture is changing.
As per market research firm P&S Intelligence, this is to be the key reason behind the growth of the skin replacement and substitutes market from $838.0 million in 2018 to $1,202.2 million by 2024, at a 6.3% CAGR during 2019–2024 (forecast period). Such products are skin that is removed from the tissue bed and then transplanted to the affected area. Such materials stimulate the body of the host to produce new skin to cover up the wound.
The product segment of the skin replacement and substitutes market is divided into cellular, acellular, and others, among which the acellular division dominated the market during 2014–2018 (historical period). This is ascribed to the suitability of acellular skin replacement and substitute products for a range of age groups, especially the pediatric population. Additionally, these products are ideal for both superficial wounds, in which the layers of the tissue beneath the skin remain unhurt, and excised wounds, in which the injury is so severe that surgeons have to reach deep into the layers of the skin and remove the damaged tissue.
The largest share in the skin replacement and substitutes market, regionally, was held by North America in 2018. This is attributed to the large number of hospitals and wound care clinics in the region, which results in a high volume of skin replacement and substitution procedures. Additionally, the healthcare industry in the continent is undergoing technological advancements and healthcare spending, particularly on personal care, is rising. Asia-Pacific (APAC) is expected to witness the highest CAGR during the forecast period, driven by the high burn incidence, rising cases of dermatological diseases, and improving healthcare facilities.
Therefore, with more people suffering from skin diseases, traumatic injuries, and burns, the demand for skin replacements and substitutes will increase.
Recent Skin Replacement and Substitutes Market Trends and Developments
This study covers
- Major factors driving the market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the market participants
- Historical and the present size of the market segments and understand their comparative future potential
- Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
- Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
- Major players operating in the market and their service offerings