Bioengineered Artificial Skin Market Analysis

The global bioengineered artificial skin market was valued at US$ 3.16 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 21.5% to reach US$ 15.00 billion by end of 2030. Factors such as increasing healthcare spending, rising demand for regenerative medicine, and technological advancements in skin substitute products are also expected to drive the growth of the bioengineered artificial skin market.

The global bioengineered artificial skin market is expected to experience significant growth in the coming years, driven by increasing demand for skin substitutes for wound healing and reconstruction, and technological advancements in skin substitute products.

Bioengineered Artificial Skin Market Regional Insights

North America is expected to be the largest market for bioengineered artificial skin due to the presence of a well-established healthcare infrastructure, high adoption of advanced healthcare technologies, and increasing government initiatives to support regenerative medicine research. The US is expected to be the largest market in North America due to factors such as high healthcare spending, increasing prevalence of chronic wounds and skin diseases, and growing awareness about the benefits of bioengineered skin substitutes. This region holds a substantial percentage of the market share, accounting for approximately 40%.

Europe is also expected to be a significant market for bioengineered artificial skin due to the increasing prevalence of chronic skin diseases, rising geriatric population, and growing demand for regenerative medicine. The UK, Germany, and France are expected to be the major contributors to the growth of the bioengineered artificial skin market. Europe holds around 30% of the market share.

Asia Pacific region is expected to be the fastest-growing market for bioengineered artificial skin, driven by the growing demand for regenerative medicine, increasing healthcare spending, and rising awareness about the benefits of bioengineered skin substitutes. Japan, China, and India are expected to be the major contributors to the growth of the bioengineered artificial skin market. Asia Pacific accounts for approximately 20% of the market share.

Figure 1. Global Bioengineered Artificial Skin Market, By Region

Global Bioengineered Artificial Skin Market Drivers:

1. Increasing prevalence of chronic wounds and skin diseases: The rising prevalence of chronic wounds and skin diseases such as diabetic foot ulcers, venous leg ulcers, and pressure ulcers is driving the demand for bioengineered artificial skin substitutes. This is because these products offer a more effective and efficient treatment option compared to traditional wound care treatments.
2. Technological advancements in skin substitute products: The development of advanced skin substitute products, such as bilayered and trilayered bioengineered artificial skin, is driving the growth of the bioengineered artificial skin market. These products offer better wound healing and tissue regeneration properties, leading to increased demand and adoption.
3. Increasing healthcare spending: Governments and private organizations are investing in the development of advanced wound care products, including bioengineered artificial skin, due to the growing demand for effective wound care solutions. This increased spending is driving the growth of the bioengineered artificial skin market.
4. Rising demand for regenerative medicine: The field of regenerative medicine is growing rapidly, and bioengineered artificial skin is a critical component of this field. Bioengineered skin substitutes are used in tissue engineering, wound healing, and other regenerative medicine applications, driving the growth of the bioengineered artificial skin market.

Global Bioengineered Artificial Skin Market Opportunities:

1. Increasing adoption in emerging markets: Emerging markets, such as Asia Pacific and Latin America, present significant growth opportunities for the bioengineered artificial skin market. As healthcare infrastructure and awareness about advanced wound care products increase in these regions, the demand for bioengineered skin substitutes is expected to grow.
2. Growing applications in cosmetic surgery: Bioengineered artificial skin is being increasingly used in cosmetic surgery procedures, such as reconstructive surgery, breast augmentation, and facial reconstruction. The growing demand for these procedures presents an opportunity for growth in the bioengineered artificial skin market.
3. Collaborations and partnerships: Collaborations and partnerships between companies and academic institutions can help drive innovation in the development of advanced bioengineered skin substitutes. These collaborations can also help expand the reach of bioengineered skin substitutes into new markets and applications.
4. Adoption of 3D printing technology: The adoption of 3D printing technology in the development of bioengineered skin substitutes presents a significant opportunity for growth in the market. 3D printing technology can be used to create highly precise and customized skin substitutes, improving treatment outcomes and reducing healing time.

Bioengineered Artificial Skin Market Report Coverage

Report Coverage	Details
Base Year:	2022	Market Size in 2022:	US$ 3.16 Bn
Historical Data for:	2017 to 2021	Forecast Period:	2023 - 2030
Forecast Period 2023 to 2030 CAGR:	21.5%	2030 Value Projection:	US$ 15.00 Bn
Geographies covered:	North America: U.S. and Canada Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific Latin America: Brazil, Argentina, Mexico, and Rest of Latin America Middle East & Africa: GCC Countries, Israel,  South Africa, North Africa, and Central Africa and Rest of Middle East
Segments covered:	By product type:  Bilayered Bioengineered Artificial Skin , Trilayered Bioengineered Artificial Skin, Others By Application:  Chronic Wounds, Acute Wounds, Others By End User:  Hospitals, Clinics, Others
Companies covered:	Smith & Nephew plc, Organogenesis Holdings Inc., Integra LifeSciences Holdings Corporation, MiMedx Group, Inc., Mölnlycke Health Care AB, Avita Medical, Stratatech Corporation, TissueTech, Inc., Stryker Corporation, Johnson & Johnson, Acelity L.P. Inc., Medline Industries, Inc., Zimmer Biomet Holdings, Inc., LifeNet Health, ConvaTec Group plc
Growth Drivers:	Increasing prevalence of chronic wounds and skin diseases Technological advancements in skin substitute products Increasing healthcare spending Rising demand for regenerative medicine
Restraints & Challenges:	High cost of bioengineered skin substitutes Regulatory challenges Limited availability of donor cells

Global Bioengineered Artificial Skin Market Trends:

1. Development of advanced skin substitutes: The development of advanced bioengineered skin substitutes, including bilayered and trilayered substitutes, is a significant trend in the market. These products offer improved wound healing and tissue regeneration properties, leading to increased demand and adoption.
2. Increasing adoption of regenerative medicine: The field of regenerative medicine is growing rapidly, and bioengineered artificial skin is a critical component of this field. As regenerative medicine becomes increasingly mainstream, the demand for bioengineered skin substitutes is expected to grow.
3. Growing adoption of 3D printing technology: 3D printing technology is being increasingly adopted in the development of bioengineered skin substitutes. This technology can be used to create highly precise and customized skin substitutes, improving treatment outcomes and reducing healing time.
4. Growing focus on sustainability: The trend towards sustainability is also impacting the bioengineered artificial skin market, with increasing demand for eco-friendly and sustainable products. This trend is expected to drive the development of bioengineered skin substitutes made from sustainable and biodegradable materials.

Figure 2. Global Bioengineered Artificial Skin Market, By Product Type

Global Bioengineered Artificial Skin Market Restraints:

1. High cost of bioengineered skin substitutes: The cost of bioengineered skin substitutes is relatively high compared to traditional wound care treatments, which may limit adoption in certain markets and patient populations.
2. Regulatory challenges: The development and commercialization of bioengineered skin substitutes are subject to regulatory approval, which can be a lengthy and expensive process. Regulatory challenges can slow down the development of new products and limit market entry.
3. Limited availability of donor cells: Some bioengineered skin substitutes require donor cells, which may be limited in availability and may pose ethical concerns.

Global Bioengineered Artificial Skin Market Recent Developments -

New product launches

1. In June 2021, Stratatech Corporation, a subsidiary of Mallinckrodt Pharmaceuticals, announced the launch of StrataGraft, a unique non-biologic, cellularized, bioengineered tissue designed to treat severe burns.
2. In March 2021, Avita Medical announced the launch of the Recell System in the US. The Recell System is a spray-on skin substitute that uses a patient's own skin cells to treat acute burns.
3. In February 2021, TissueTech announced the launch of Amniox RT, a new amniotic membrane product designed for use in wound healing and tissue repair.

Acquisition and partnerships

1. In June 2021, Smith & Nephew announced the acquisition of Integra LifeSciences' Extremity Orthopedics business, which includes the development of bioengineered skin substitutes for wound care and tissue repair.
2. In March 2021, TissueTech announced a strategic partnership with Corneal Associates of New Jersey to offer a new regenerative medicine solution for corneal injuries using bioengineered tissues.
3. In December 2020, Organogenesis Holdings Inc. announced the acquisition of NuTech Medical, a company focused on developing innovative wound care products, including bioengineered skin substitutes.

Top companies in Global Bioengineered Artificial Skin Market

1. Smith & Nephew plc
2. Organogenesis Holdings Inc.
3. Integra LifeSciences Holdings Corporation
4. MiMedx Group, Inc.
5. Mölnlycke Health Care AB
6. Avita Medical
7. Stratatech Corporation
8. TissueTech, Inc.
9. Stryker Corporation
10. Johnson & Johnson
11. Acelity L.P. Inc.
12. Medline Industries, Inc.
13. Zimmer Biomet Holdings, Inc.
14. LifeNet Health
15. ConvaTec Group plc

These companies are leading players in the bioengineered artificial skin market and are involved in the development, manufacturing, and commercialization of bioengineered skin substitutes for wound care and tissue repair. They are expected to continue investing in research and development to improve the efficacy and safety of bioengineered skin substitutes and expand their reach into new markets and applications.