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Wednesday, 15 July 2020
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Thursday, 04 Jun 2020 01:00 pm

Extracellular Matrix Market Research Explores The Key Success Factors, And Business Opportunities Including Key Players Forecast Till 2027

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.

By SMN Bureau
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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 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.

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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.

Global extracellular matrix market was segmented by application and raw material. On the basis of the application the market is segmented as vascular repair and reconstruction, dural repair, wound healing, cardiac repair, pericardial repair and soft tissue repair. Based on the raw material the extracellular matrix market is segmented into bovine, porcine and others. Among the application segment soft tissue repair market held the largest market share. And on the basis of the raw material porcine segment held the largest market share.

The market for extracellular matrix is expected to grow significantly due to factors such as significantly increasing incidences of trauma and cardiovascular diseases, increasing vascular reconstruction procedures and increasing product launches are likely to drive the growth of the extracellular matrix market. However, challenges during the usage of decellularized extracellular matrix is major challenge for the growth of the extracellular matrix market.

In addition, obesity is coupled with increasing severity of diagnoses for several types of cancer. Also there have been collective evidences that have shown mechanism that enables obese cells or tissue to serve as an extracellular matrix for the cancer progression. However, extracellular matrix holds vital responsibilities in facilitating the proper development and homeostasis of tissues. The extracellular matrix can also govern both normal and cancer cell function and fate. For instance, studies have proven that extracellular matrix isolated from virgin rat mammary glands has been shown to exert antitumorigenic effects on breast cancer cells. Also extracellular matrix isolated from involuting rat mammary glands inhibits the growth of tumorous cells. On the other hand, the protumorigenic effects of the latter are mediated by a mechanism of inflammatory signaling that can be inhibited by nonsteroidal anti-inflammatory drugs.

Organic and inorganic growth strategies were observed in global extracellular matrix industry. The organic strategies which were conducted more compared to the inorganic strategies for the extracellular matrix. For instance, in March, 2019, MTF Biologics launched CartiMax Viable Cartilage, for easily filling the lesions in the knee, foot and ankle. The launch demonstrates stable viability post-cryopreservation and provides the clinical benefits of, viable cartilage matrix with live cells. Thus, the organic strategy has enabled the company to grow its business in the market.

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Tags Extracellular Matrix Market

SMN Bureau

Smart Market News brings you the stories of adopting innovative solutions and strategies that have been changing the world. Our insights on products, solutions, companies, and adoption of best practices help in understanding the markets better and make smarter decisions.


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