According to The Insight Partners market research study titled ‘Extracellular Matrix Market to 2027 – Global Analysis and Forecasts by Application, Raw Material and Geography. The Global Extracellular Matrix Market is expected to reach US$ 47.46 Mn in 2027 from US$ 24.30 Mn in 2018. The market is estimated to grow with a CAGR of 8.2% from 2019-2027. The report highlights the trends prevalent in the global extracellular matrix market and the factors driving the market along with those that act as challenges to its growth.
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.
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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.
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.
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.
The report segments the global extracellular matrix market as follows:
Global Extracellular Matrix Market – By Application
Vascular Repair and Reconstruction
Soft Tissue Repair
Global Extracellular Matrix Market – By Raw Material
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The Insight Partners
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.