Market Challenges And Opportunities

Increasing number of approvals for novel skin treatment procedures is expected to facilitate growth of the global skin replacement market over the forecast period. For instance, in September 2018, the U.S. FDA granted premarket approval for Recell (Avita), which is a spray-on treatment for burns in patients older than 18 years.

Moreover, increasing focus on research and development activities by key players is projected to drive the market growth in the future. For instance, in October 2018, Platelet BioGenesis announced that they are in the process of developing a device that imitates the conditions under which human platelets are generated, for patients recovering from injuries, surgery, or treatments like chemotherapy that can lead to an extremely low platelet count.

Moreover, in January 2019, Proctor & Gamble launched Opté, which is a tool aimed at covering skin conditions such as hyperpigmentation, and age spots by simply gliding the device over the skin’s surface. Such product innovations are likely to benefit growth of the skin replacement market.