Artificial Skin Market Size, Share, Industry Trends and Forecast to 2030

Artificial Skin Market Size & CAGR in 2021:

The global artificial skin market is expected to witness a significant growth in 2021 with a CAGR of 5.8%. The market size is estimated to reach USD 1.2 billion by the end of the year.

COVID-19 Impact on the Artificial Skin Market:

The COVID-19 pandemic has had a mixed impact on the artificial skin market. While there was a temporary slowdown in production and distribution due to lockdown measures, the increased focus on healthcare and research has led to a surge in demand for artificial skin products.

Artificial Skin Dynamics:

The artificial skin market is driven by the rising prevalence of chronic wounds, burns, and skin diseases, along with the increasing adoption of artificial skin substitutes in cosmetic and reconstructive surgeries. Technological advancements in the field of regenerative medicine are also contributing to the market growth.

Segments and Related Analysis:

The artificial skin market can be segmented based on product type, material, application, and end-user. The key product types include temporary skin substitutes, permanent skin substitutes, and cultured epidermal skin substitutes. By material, the market is divided into synthetic skin, biologic skin, and biosynthetic skin. Applications of artificial skin include burn treatment, diabetic ulcers, and others. End-users of artificial skin products are hospitals, clinics, and research institutions.

By Region Analysis:

In terms of regional analysis, North America dominates the artificial skin market, followed by Europe and Asia Pacific. The presence of well-established healthcare infrastructure, increasing investment in R&D, and high prevalence of chronic wounds in North America contribute to its market dominance. Europe is experiencing rapid growth in the artificial skin market due to technological advancements and rising demand for cosmetic procedures. The Asia Pacific region is expected to witness significant growth in the coming years due to the increasing focus on healthcare and the rising geriatric population.

Key Market Players and Competitive Landscape:

Some of the key players in the artificial skin market include Organogenesis Inc., Smith & Nephew, Integra LifeSciences Corporation, Molnlycke Health Care, Medtronic plc, and others. These companies are focusing on product innovation, strategic partnerships, and mergers and acquisitions to strengthen their market presence and gain a competitive edge.

Recent Happenings in the Artificial Skin Market:

- In March 2021, Organogenesis Inc. announced the launch of a new artificial skin product for diabetic foot ulcers. - In June 2021, Smith & Nephew introduced a next-generation synthetic skin substitute for burn treatment. - In August 2021, Integra LifeSciences Corporation collaborated with a leading research institution to develop advanced bioengineered skin products. - In November 2021, Molnlycke Health Care received FDA approval for its innovative biosynthetic skin substitute for wound healing.