February 24, 2024

Bioengineered Artificial Skin Market is Expected to be Flourished by Rising Number of Burn Injuries Cases

Bioengineered artificial skin, also known as bioengineered skin substitutes, are artificially cultivated skin substitutes used for the treatment of severe burn injuries. These substitutes aim to stimulate regeneration of a functional skin through the delivery of growth factors, stem cells, and mechanical support to the wound site. Significant progress has been made in the development of new bioengineered artificial skin products made from autologous cells as cell-based therapies are expected to emulate normal skin anatomy and functionality better than acellular skin substitutes. Some key products include Epicel, Transcyte, Dermagraft, and OrCel.

The global bioengineered artificial skin market is estimated to be valued at US$ 800 million in 2023 and is expected to exhibit a CAGR of 16% over the forecast period 2023 to 2028, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
Rising number of burn injuries cases is the major factor driving the growth of the bioengineered artificial skin market.According to the World Health Organization, over 300,000 burn related deaths occur annually and non-fatal burn injuries requiring medical treatment are far more common. In addition, thermal or fire-related burns remain a major public health issue. Burn injuries often lead to extensive damage to skin tissue requiring treatment with skin grafts. However, insufficient donor tissue availability and risk of infection and rejection with allograft skin has stimulated demand for bioengineered or artificial skin substitutes. Major advantages of these substitutes include reducing infection risk, promoting wound healing, reducing pain, and minimizing scar formation. However, high costs associated with bioengineered artificial skin products is estimated to restrain the market growth during the forecast period.

Segment Analysis
The bioengineered artificial skin market is segmented into skin grafts and skin substitutes. Skin grafts are the dominant segment due to their usage in acute burn injury treatment. Skin grafts are further classified into autografts and allografts. Autografts are the most widely used skin grafts as they have low donor site morbidity and risks of disease transmission.

PEST Analysis
Political: The regulation on the usage of bioengineered skin products across countries varies which impacts the market. For example, the regulatory approval process in the US and Europe is stringent.
Economic: The high incidence of burn injuries and increasing healthcare expenditure is fueling the market growth. However, the high costs associated with artificial skin limit their adoption in price-sensitive markets.
Social: The rising awareness about cosmetic procedures and skin treatment options has increased the demand for artificial skin in cosmetic surgeries.
Technological: Advancements in tissue engineering and regenerative medicine have improved the functionality and biocompatibility of artificial skin. Products mimicking natural skin are gaining traction.

Key Takeaways
The global bioengineered artificial skin market is expected to witness high growth over the forecast period of 2023 to 2028.

Regional analysis: North America region currently dominates the market due to the presence of major players and availability of advanced treatment options. Asia Pacific is anticipated to register the fastest growth rate led by regions like China, India, and Japan on account of increasing healthcare spending and patient population.

Key players: The key players operating in the bioengineered artificial skin market are Smith & Nephew, MiMedx, Integra LifeSciences Corporation, Organogenesis, Tissue Regenix, and Mölnlycke Health Care AB.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research

2. We have leveraged AI tools to mine information and compile it