Market Research Of Global Skin Grafting Market By Knowledge Sourcing Intelligence
INTRODUCTION
The Global Skin
Grafting Market is projected to witness a compound annual growth rate of 12.29%
during the forecast period to reach a total market size of US$6.825 billion by
2023, increasing from US$3.824 billion in 2018. Skin grafting is a surgical procedure that involves
transplantation of the skin. A skin graft is a part of the skin that is
harvested from a particular area of the patient’s body or from the donor’s
body. Any situation or accident that results in an open wound and severe damage
to the skin such that it cannot be regenerated on its own requires skin
grafting.
Thus, skin grafts are required in cases of severe traumatic injuries,
post-surgical healing, reconstructive cosmetic surgery, and certain other
medical conditions, such as diabetes, that result in loss of the skin. Key
market players in the global skin grafting market include Organogenesis, Exsurco
Medical Inc., Mallinckrodt Pharmaceuticals, Tissue Regenix Group, Avita
Medical, Zimmer Biomet, Aesculap, Inc, Nouvag AG, and Surtex Instruments
Limited. Autografts will dominate this segment throughout
the forecast period while xenogenic skin grafting will witness a considerable
market growth owing to rising R&D investments in developing animal skin as
cost-effective skin grafts. Market Research is done by the knowledge sourcing industry due to the huge scope with the respective industry.
Sample
view of global skin grafting market share
By thickness, the global skin grafting market is
segmented as split-thickness, full-thickness, and composite graft. Split
thickness accounted for the largest market share in 2017. Composite graft
market will witness a significant CAGR owing to increasing demand for
rhinoplasty across the globe. The rising prevalence of basal cell carcinoma, a type
of cutaneous skin cancer of the nose, will further fuel the growth of the composite
skin graft market in the coming years.
RISING INCIDENCE OF BURN INJURIES
There has been a
rise in the number of burn injuries worldwide in the past few years. According
to the World Health Organization (WHO), an estimated 180 thousand deaths are
caused by burns annually out of which mostly occur in low- and middle-income
countries. In India, according to the National Crime Records Bureau (NCRB) of
the Union home ministry, a total of 20,377 cases of fire accidents were
reported in 2014. According to the U.S. National Fire Protection Association,
the number of structure fires worldwide rose from 482,000 in 2010 to 501,500 in
2015. This has led to the spur in the demand for skin grafting surgical
procedures across the globe.
GLOBAL SKIN GRAFTING MARKET BY GEOGRAPHY
Geographically,
global skin grafting market is segmented as Americas, Europe Middle East and
Africa (EMEA), and Asia Pacific (APAC). North America held the largest market
share in 2017 and is projected to continue its dominance until the end of the
forecast period. This dominance is due to the high adoption rate of new technology
coupled with high investment in R&D in technological advancements in
developed countries such as the U.S. and Canada. However, according to the WHO
(World Health Organization), the number of burn cases is high in South East
Asia which makes the region an untapped potential market for skin grafting.
Furthermore, a growing focus on better healthcare infrastructure and favorable
government initiatives to boost the healthcare industry in countries such as
China and India are also expected to boost the growth of skin grafting market
in the APAC region exponentially.
Sample
view of global skin grafting market share
AMERICAS
America's skin grafting market will witness a CAGR of XX% during the forecast period, reaching
a total market size of US$XX billion by 2023 from US$XX billion in 2017. It is
further segmented into North America and South America Skin Grafting markets.
North America
skin grafting market will dominate the Americas region throughout the forecast
period owing to the early adoption of technology and high investment in stem cell
harvesting and other R&D activities in the field of skin grafting system
and techniques. Presence of major biotech companies in the U.S. coupled with high
awareness among consumers about skin grafting solution for treating severe
wounds. South American skin grafting market will witness a CAGR of XX% during
the projected period. This growth is majorly attributed to the increasing demand
for skin grafts for research purposes in Brazil. Recently, researchers in
Brazil have developed skin grafts from tilapia fish which is effective as
autografts in healing severe burn wounds.
NORTH AMERICA
North America
skin grafting market is projected to grow at a CAGR of XX% during the forecast
period to reach a total market size of US$XX billion in 2023 from US$XX billion
in 2017. According to the National Institutes of Health, more than six million
cases of chronic wounds cost $20 billion each year in the U.S., with diabetic
ulcers, surgical site wounds, pressure sores, and traumatic injuries accounting
for most wounds that don’t heal. The development of advanced skin-grafting
systems and techniques has resulted in chronic wound recovery while reducing
care costs by accelerating the healing process.
High prevalence
of skin cancer, mainly melanoma, in Canada and other North American countries
further augments the demand for skin grafting systems and techniques in the
region. In 2016, there were about 6,800 new cases of melanoma diagnosed in
Canada which is majorly caused by high UV exposure from the sun and/or tanning
beds. In 2017, approximately 7,300 new cases of melanoma diagnosis were
reported in the country. According to the latest statistics by Statistics
Canada, there are more instances of skin cancer in regions where the UV index
is higher in the summer.
Growing
healthcare expenditure, especially on chronic diseases such as diabetes (that
leads to chronic diabetic foot ulcers) has led to a rise in the investment in
R&D to develop advanced skin grafting techniques that are less painful with
reduced costs. In April 2016, the U.S. based biotech firm Organogenesis Inc.
raised $30 million from investors to expand its product portfolio and
commercial operations of the wound care segment. Moreover, the company is also
looking for new opportunities to expand its footprints in the inpatient
surgical market across different regions. New methods to treat various diseases
are being developed using skin grafts. Recently researchers from the University
of Chicago have developed CRISPR-gene editing methods to create a skin graft
for reducing the glucose level in the blood of diabetic and obese mice, which
can be a safer and affordable form of gene therapy in the near future.
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