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Skin Replacement Market - Industry Overview And Key Factors

|Includes: Meridian Resource Corp. (TMR)

Global Skin Replacement Market: Overview

The skin, which is the largest external organ in the human body, is also easily prone to injuries and damage. It is formed of two protective layers - while the epidermis is the outer layer of the skin, the dermis in the layer that lies just beneath the epidermis. It is imperative that the skin functions properly because it protects the musculoskeletal system, important organs, and regulates the fluid levels in and temperature of our body.

Skin diseases such as eczema, psoriasis, and skin cancer can be a painful experience and one that can also compromise a person's quality of life. Likewise, injuries and trauma to the skin can affect a person's ability to lead a normal life. Moreover, the impact of various diseases and injuries can prevent the skin from performing its normal functions even after it has healed. However, these issues can be addressed to a large extent by using artificial skin. The availability of artificial skin has today led the emergence of a worldwide market for skin replacement techniques and technologies.

The roots of this market can be traced back to the early 1980s when John F. Burke of the Massachusetts Institute of technology co-invented synthetic skin. Since then, several advances have been made to the way artificial skin is produced. It has been a boon to people who have suffered from severe burns and patients of skin diseases. It has now become easier for medical experts to rapidly graft artificial skin or produce it in large quantities. Newer varieties of artificial skin can be stored at room temperature and can also be sterilized easily.

The skin replacement market is thus being shaped by numerous trends that will contribute to its healthy growth. The market is especially being driven by the use of advanced skin replacement therapies in treating chronic skin wounds and severe skin burns.

Global Skin Replacement Market: Important Drivers and Restraints

The continued efforts being directed at improving the efficacy of artificial skin have helped the global skin replacement market grow steadily over the years. This has also helped in the expansion of the current base of products available on the market, giving consumers access to specific skin replacement therapies in line with their existing condition. It is interesting to note that every time a new artificial skin product is launched on the market, more niches are being created in this space.

The ability of consumers to spend on these products has further encouraged companies to bring newer products to the market. A rise in the number of skin diseases and injuries and the consciousness among consumers to have healthy-looking skin are all helping the skin replacement market grow in size.

The future of the global skin replacement market lies in bioengineered skin replacements. These are a relatively newer class of products but are capable of being developed to closely mimic virtually every function of natural skin. However, the market does continue to face competition from lower-priced substitutes.

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Global Skin Replacement Market: Segmentation and Region-wise Outlook

The market for skin replacement can be broadly segmented basis material used and end user. The two most common materials used for producing artificial skin are collagen and spider silk. The uses of artificial skin are widely seen in cosmetic, pharmaceutical, and chemicals sectors.

From the geographical standpoint, the global market for skin replacement can be segmented into Asia Pacific, North America, Europe, and Rest of the World. The market for skin replacement in North America contributes a sizeable portion to the global market revenues. With countries in Asia Pacific offering attractive medical tourism packages to patients worldwide, the demand for skin replacement is expected to rise in these regions.

Companies at the forefront of the global skin replacement market are: Cynata Therapeutics Limited, Cellular Dynamics International, Platelet BioGenesis, TissueGene, Inc., and Tengion.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

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