Artificial skin, also known as bioengineered skin, is a biomaterial designed to replace or regenerate human skin. It aims to restore the barrier function of lost or damaged dermal and epidermal skin layers. Bioengineered skin contains living cells that restore injured tissue and promote healing. Its components include collagen, fibroblasts, and keratinocytes grown together to form skin substitutes resembling natural dermal and epidermal layers. Some types of artificial skin temporarily cover burns and chronic wounds to prevent infections until permanent skin grafting becomes possible. Others help regrow skin through regenerative processes.
The Global Bioengineered Artificial Skin Market is estimated to be valued at US$ 3.32 Bn in 2024 and is expected to exhibit a CAGR of 16% over the forecast period 2023 to 2030.
Key players operating in the Bioengineered Artificial Skin are Genoskin, Smith and Nephew Inc., Genzyme Biosurgery, Vericel Corporation, AROA BIOSURGERY LIMITED, Integra LifeSciences Corp, COOK BIOTECH, Mölnlycke Health Care AB, Avita Medical, MiMedx Group, Inc., and Organogenesis Holdings Inc. Key players are focusing on developing advanced skin substitutes using innovative techniques like 3D bioprinting for complex wounds and burns.
The growing incidence of burns and chronic wounds worldwide is driving the demand for artificial skin grafts and substitutes in healthcare facilities. According to WHO estimates, over 180,000 burn-related deaths occur annually across the globe indicating the critical need for permanent and temporary wound coverage options.
Leading manufacturers are expanding their presence in developing markets through distribution partnerships to meet the rising artificial skin requirements. The untapped growth prospects in Asia Pacific and Latin America are attracting new market entrants as well due to improving medical infrastructure and spending in these regions.
Market Key Trends
One of the key trends gaining traction in the bioengineered artificial skin market is the adoption of 3D bioprinting technologies. This advanced fabrication technique deposits cells and biomaterials layer-by-layer with precision to create skin constructs mimicking the texture and functionality of native tissues. 3D bioprinting allows generating autologous or patient-matched skin substitutes suitable for complex burns and chronic wounds. Leading players are actively researching 3D bioprinting applications to develop the next generation of artificial skin products with improved healing outcomes.
Threat of new entrants: Low capital requirements to enter the artificial market reduce this threat. However, established brands have strong customer loyalty and relationships with healthcare providers and insurers that create significant switching costs.
Bargaining power of buyers: Individual consumers have limited bargaining power, but group purchasers like healthcare systems and insurance companies can negotiate lower prices from manufacturers.
Bargaining power of suppliers: A few key material and technology suppliers exist, giving them some ability to influence prices, though branded manufacturers control significant intellectual property.
Threat of new substitutes: Some wound care alternatives exist, but none fully substitute for artificial skin’s ability to facilitate wound healing and protect against infection or further damage.
Competitive rivalry: Competition is intense as large medical product companies compete to develop new artificial skin formulations and manufacturing methods to better mimic natural skin.
North America currently accounts for the largest share of the global bioengineered artificial skin market due to rising cases of burn injuries. The presence of major market players and availability of advanced healthcare infrastructure boosts regional market growth.
The Asia Pacific region is projected to witness the fastest growth over the forecast period.Factors such as growing healthcare expenditure, increasing research funding, and rising awareness about artificial skin products are fueling regional market expansion. A large patient pool and improving access to healthcare also contribute to market development.
- Source: Coherent Market Insights, Public sources, Desk research
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