Skin Fibre Market is Estimated to Witness High Growth Owing to Increasing Applications in Wound Care and Dressings
Skin fibre is obtained from human skin which acts as a scaffolding for new tissues to grow. It is manufactured using advanced technology that retains all essential components to support tissue regeneration. Skin fibre based wound dressings and bandages support faster wound healing by maintaining a moist environment and providing temporary coverage.
The global skin fibre market is estimated to be valued at US$ 825.1 Mn in 2023 and is expected to exhibit a CAGR of 3.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
One of the key drivers for the skin fibre market is its increasing applications in wound care and dressings. Skin fibre dressings help manage wound exudate by wicking moisture away from the wound bed and maintaining a hydrated environment. This promotes faster healing of acute and chronic wounds. Furthermore, skin fibre dressings are highly absorbent, conform well to the wound contours and provide an effective barrier to external contaminants without requiring frequent changes. As the prevalence of chronic wounds and diabetic foot ulcers rises globally due to the aging population and lifestyle diseases, the demand for advanced wound care treatments including skin fibre dressings is also growing significantly. Additionally, skin fibre dressings are increasingly being used for burn injuries and post-surgical wound care due to their ability to protect new tissue growth and reduce scar formation.
SWOT Analysis
Strength: The skin fibre market has strong growth potential due to the rising demand for collagen-based products from the cosmetics and pharmaceutical industries. Collagen fibres are widely used in anti-aging creams, hydrating serums and dietary supplements due to their skin rejuvenating properties. In addition, collagen production is a sizable industry in countries with large livestock sectors such as Brazil and India, providing a steady local supply chain.
Weakness: High production costs associated with extracting collagen from animal sources is a major challenge for market players. Alternative plant-based collagen sources are still not widely commercialized and scalable. Strict regulatory compliance for pharmaceutical applications also translates to significant compliance costs. Depending on imports increases supply chain vulnerabilities.
Opportunity: Expanding applications of collagen fibres in regenerative medicine, tissue engineering and 3D bioprinting present lucrative opportunities. The surging demand for premium anti-aging skincare among aging demographics in developed countries also provides a massive untapped market. Developing cost-effective production technologies for alternative collagen sources like yeast, bacteria and plants can help overcome limitations from livestock dependence.
Threats: Regulations on animal welfare and enviornmental impact of large-scale livestock farming may lead to supply constraints. Price volatility of livestock can impact production costs. Slow adoption of alternative fibrillar collagens limits opportunities. Public skepticism around use of animal-derived ingredients increases competition from synthetic substitutes.
Key Takeaways
Global Skin Fibre Market Size is expected to witness high growth over the forecast period driven by rising consumption of collagen-based cosmetic products and growing medical applications. The market size is projected to reach US$ 825.1 Mn by 2023, expanding at a CAGR of 3.1% during 2023-2030.
Regional analysis: North America currently dominates the global market owing to concentration of leading cosmetics and biotech companies. However, Asia Pacific is anticipated to emerge as the fastest growing regional market attributed to rising expenditures on personal care products alongside growing medical capabilities in countries like China, India and South Korea.
Key players: Key players operating in the skin fibre market are TSI Group Ltd., Qingdao Wan Toulmin Biological Products Co., Ltd, HeBei SanXin Industrial Group, Bioiberica S.A.U., Sigma-Aldrich, Inc., Sino Siam Biotechnique Company Limited, Bio-gen Extracts Private Limited, SEIKAGAKU CORPORATION, BRF, and ZPD.
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