BIOENGINEERED ARTIFICIAL SKIN MARKET ANALYSIS

Market Challenges And Opportunities

Global Bioengineered Artificial Skin Market Drivers:

• 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 due to the products that offer a more effective and efficient treatment option as compared to traditional wound care treatments. For instance, on September 4, 2023, according to MDPI(Multidisciplinary Digital Publishing Institute) Biomedicines publication “Chronic Wound Management: From Gauze to Homologous Cellular Matrix”, the latest data collected in 2022 showed that the global prevalence of chronic wounds lies at 1.67 per 1,000 population. Most chronic wounds refer to chronic leg ulcers, and their computed prevalence is 1.51 per 1,000 population.
• Rising incidence of burn injuries: Rising incidence of burn injuries, especially in developing nations, is a major factor boosting the market growth of bioengineered artificial skin. For instance, on October 12, 2023, according to data from the World Health Organization (WHO) published in ‘Burns’, over 11 Bn burn injuries require medical treatments which occur worldwide in every year. The severity of burns has also increased over the years due to industrial and road accidents. Conventional skin grafts are often not sufficient to treat extensive burns. covering over 50% of the total body surface area. This has increased the demand for tissue-engineered skin substitutes that can help manage complicated burns.
• Rising demand and advancement in 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, which are expected to drive the growth of the bioengineered artificial skin market. For instance, in January 2022, AVITA Medical, Inc., a regenerative medicine company announced, developing and commercializing a Recell system technology platform that enables point-of-care autologous skin restoration for multiple unmet needs, has completed enrollment into its pivotal trial for the use of the RECELL System for soft-tissue reconstruction.

Global Bioengineered Artificial Skin Market Opportunities:

• 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. For instance, in January, 2022, Convatec Group Plc., a U.K. based global medical solutions company, which is focused on the management of chronic conditions announced, that it has entered into a definitive agreement to acquire Triad Life Sciences Inc., a U.S.-focused medical device company, that develops biologically-derived innovative products to address unmet clinical needs in surgical wounds, chronic wounds, and burns. It strengthens Convatec Group Plc.,’s Advanced Wound Care position in Europe and U.S. region.
• Collaborations and partnerships: Collaborations and partnerships between companies and academic institutions are expected to 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. For instance, in June 2021, Smith & Nephew, U.K. based medical device company announced the acquisition of Integra LifeSciences' global medical device manufacturing company’s Orthopedics business, which includes the development of bioengineered skin substitutes for wound care and tissue repair.
• Adoption of 3D printing technology: The adoption of 3D printing technology in the development of bioengineered skin substitutes presents a significant opportunity for the market growth. 3D printing technology can be used to create highly precise and customized skin substitutes, improving treatment outcomes, and reducing healing time. For instance, on February 2, 2023, according to the article published in the journal ‘REVIEWS ON ADVANCED MATERIALS SCIENCE’, there are new technological advancement like 3D bio printing which can generate skin substitutes with improved quality and high complexity for wound healing and in vitro disease modeling.\

Global Bioengineered Artificial Skin Market Restraints:

• 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. For instance,
• 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. For instance, in December 2020, according to the journal published by ‘Burn Care and Research’ publication ‘Navigating the Regulatory Pathways and Requirements for Tissue’the regulation of tissue-engineered products in the U.S.Occurs by one of several pathways established by the U.S. Food and Drug Administration (U.S. FDA), including a Biologics License Application (BLA), a 510(k) (Class I and Class II devices), Premarket Approval (Class III devices), or a human cells, tissues, and cellular and tissue-based products designation. Key differentiators among these regulatory classifications include the amount and type of data required to support a filing. For example, a BLA requires a clinical trial(s) and evaluation of safety and efficacy by the Center for Biologics Evaluation and Research.
• Counterbalance: As a result, the market players should carry out programs to increase awareness of the bioengineered artificial skin, so that there is availability of donors in the said market. Also, the cost of such products should be made as such that it is easily affordable by the masses.