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Extracellular Matrix Market Detailed Analysis 2020: Top Companies like Coloplast Group, Lattice Biologics, Aziyo Biologics, DSM Biomedical, Admedus, MTF Biologics, COOK BIOTECH,

05-11-2020 06:05 PM CET | Health & Medicine

Press release from: The Insight Partners

Extracellular Matrix

Extracellular Matrix

The global extracellular matrix market by raw material segments was led by porcine segment. In 2018, the porcine segment held a largest market share of 41.09% of the extracellular matrix market, by raw material. However, the bovine segment is expected to be the fastest growing segments of the market in 2027 owing to more beneficial properties to treat various conditions which is expected to become the major factor for the growth of the extracellular matrix market.

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Asia Pacific is the fastest growing geographic market and it is expected to be the fastest revenue contributor throughout the forecast period. Asia Pacific is recognized as a developing market for the medical devices. The growth is driven by that countries such as China, Japan, and India which are engaged in conducting several studies. For instance, Australia is also involved in the several studies and also it has held various conferences for the tissue engineering and other application of the extracellular matrix.

The global extracellular matrix market accounted to US$ 24.30 Mn in 2018 and is expected to grow at a CAGR of 8.2% during the forecast period 2019 - 2027, to account to US$ 47.46Mn by 2027.

The major players operating in the extracellular matrix market include, Admedus, Coloplast Group, Merck KGaA, Smith & Nephew, MTF Biologics, Lattice Biologics Ltd., COOK BIOTECH, INC., Medtronic, Aziyo Biologics, Inc., and DSM Biomedical. The market has carried out various organic and inorganic growth strategies in the market which has assisted in strengthening their product offering in the market.

The potential of regenerative medicine that facilitates tissue regeneration in the affected area reduced the requirement of tissue transplant. The extracellular matrix is derived from a readily available tissue source, it can stimulate the growth of tissue in vivo with minimal inflammation, and it is available off the shelf. These advantages of the extracellular matrix enables in the ideal soft tissue replacement treatment procedures to repair contour defects. Therefore, there is increase in the vascular reconstruction or the plastic surgeries are anticipated to grow the extracellular matrix during the forecast period. According to the American Society of Plastic Surgeons (ASPS) states that in 2018, across US approximately 17.7 million surgical and minimally invasive aesthetic procedures were performed. This accounts nearly 277,000 more cosmetic procedures performed in 2017. In addition, nearly 2.68 million procedures were performed for soft tissue repair fillers and this surgery has grown by 2% from 2017. Thus, owing to the above mentioned factors the market is likely to propel during the forecast period.

The studies for the molecular cell biology of extracellular matrix (ECM) are being conducted across the world. The cell adhesion molecules (CAMs), other properties and advantages of the extracellular matrix are turning out to be beneficial area of discovery with several interesting factors for disease and disorders in animals and humans. These advantages are also include treating of some cancers such as breast cancer, pancreatic cancer, liver cancer and colon cancer.

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