Market Size of Global Artificial Skin Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.10 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Artificial Skin Market Analysis
The artificial skin market is expected to register a CAGR of 6.1% over the forecast period.
The increasing number of cases of chronic diseases due to the pandemic's outbreak has accelerated the market's growth during the pandemic. According to the study titled, "Impact of COVID-19 pandemic on chronic diseases care follow-up and current perspectives in low resource settings: a narrative review" published by the National Library of Medicine in June 2021, COVID-19 patients with hypertension, diabetes, and coronary heart disease are more likely to progress to severe conditions. It also reported that patients with COVID-19 are less likely to be cured. The high rate of chronic diseases has triggered a high rate of chronic wounds as well. Chronic wounds arise as a result of a prolonged inflammatory phase during the healing process, which prevents skin regeneration. In addition, COVID-19 patients experience slow wound healing, which has triggered the rate of chronic wounds. According to a journal published by The Ohio State University in February 2021, a diabetes patient who has suffered from COVID-19 is witnessing slow wound healing. Typical treatment of chronic wounds involves the application of autografts, cadaveric allografts, and topical administration of antioxidant, anti-inflammatory, and antibacterial agents. Many artificial skin products are used for the treatment of chronic wounds. For instance, Dermagraft is FDA approved for the treatment of neuropathic and diabetic ulcers and wounds secondary to epidermolysis bullosa. Therefore, such factors have anticipated the market's growth during the pandemic.
The increasing awareness of various skin treatment procedures has led to the rising demand for artificial skin. Artificial skin lacks immunogenic cells like dendritic cells, and hence auto-rejection is not observed. The increase in the number of road accidents, burns, and trauma-related incidents has led to significant growth in the artificial skin market. According to the report published by the American Burn Association in February 2021, around 400,000 people are treated for burns each year in the United States. Thus, the artificial skin market is anticipated to witness a considerable growth rate over the forecast period.
However, the high cost of treatment, lack of reimbursements, and stringent regulatory norms are likely to impede the market's growth over the forecast period.
