Healthcare and Medical

The Global Extracellular Matrix Market Growth Accelerated By Rising Incidences Of Chronic Wounds

kiran gire

The Global Extracellular Matrix Market Growth Accelerated By Rising Incidences Of Chronic Wounds

The extracellular matrix (ECM) plays an important role in regulating cell behavior ranging from adhesion, migration and proliferation. ECM-based products are used to treat chronic wounds by facilitating new tissue formation. The global extracellular matrix market is estimated to be valued at US$ 46.12 Bn in 2023 and is expected to exhibit a CAGR of 5.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The increasing incidences of chronic wounds such as diabetic foot ulcers, pressure ulcers, and venous leg ulcers is one of the major factors driving the growth of the extracellular matrix market. It is estimated that over 463 million people worldwide suffer from diabetes, which may lead to chronic wounds if not controlled properly. Additionally, the rising geriatric population is also susceptible to chronic wounds due to increased occurrences of diseases. According to the United Nations, the global geriatric population is projected to reach 1.5 billion by 2050 from 703 million in 2019. Thus, the rise in chronic conditions will augment the demand for ECM-based products for wound healing over the forecast period.

Segment Analysis

Extracellular matrix market can be segmented on the basis of type, application and end user. Based on type, the market is divided into collagens, proteoglycans, glycoproteins and others. Among these, collagens dominates the market as it is most widely used and abundant protein in ECM. It provides strength and support to tissues and plays a vital role in cell adhesion, growth and migration.

Key Takeaways

The global Extracellular Matrix market demand is expected to witness high growth during the forecast period of 2023-2030. The market is expected to reach US$ 46.12 billion by 2023 from US$ 41.15 billion in 2019, at a CAGR of 5.1%.

Regional analysis

North America region is dominating the extracellular matrix market owing to availability of advanced healthcare facilities and presence of many key players. Additionally, rising occurrence of chronic diseases has fueled demand for ECM derived therapeutics in this region. Asia Pacific is expected to witness fastest growth over forecast period. Growing medical tourism, improving healthcare infrastructure and rising awareness about ECM products are driving the market in Asia Pacific region.

Key players

Key players operating in the Extracellular Matrix market are VISUfarma, Johnson & Johnson, Otsuka Holdings Co. Ltd., OASIS Medical, Novartis AG, Sentiss Pharma Pvt. Ltd., AbbVie Inc. (Allergan PLC), Bausch Health Companies Inc., Santen Pharmaceutical Co. Ltd., and Sun Pharmaceutical Industries Ltd. among others. These players are focusing on new product launches, partnerships and geographical expansion to strengthen their market position

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Extracellular Matrix Market is Estimated To Witness High Growth Owing To Increasing Investment in Stem Cell Research

Anjali CMI 2023-10-26

The advantages of ECM-based products include improved cell viability, enhanced cell adhesion, and promotion of cell differentiation. Economic: The economic factors affecting the extracellular matrix market include healthcare spending, GDP growth, and healthcare infrastructure. Key Takeaways:The global Extracellular Matrix Market Size is expected to witness high growth, exhibiting a CAGR of 9. Regionally, North America is the fastest-growing and dominating region in the extracellular matrix market. These key players have a significant market presence and contribute to the overall market growth through product innovations and strategic partnerships.

Extracellular Matrix Market is Estimated to Witness High Growth Owing to Increase in Aging Population

Omkar Patel 2024-02-06

The extracellular matrix is made up of structural and biochemical components found between cells in all tissues and organs. Additionally, increasing focus on tissue regeneration and tissue engineering by pharmaceutical and biotechnology companies will also contribute to the growth of extracellular matrix market over the forecast period. Growth in tissue engineering, regenerative medicine and organ transplantationThe growing tissue engineering, regenerative medicine and organ transplantation procedures is one of the key driver fuelling the growth of extracellular matrix market. Opportunity for novel biomaterial development using decellularization technologyEmerging decellularization technology presents lucrative opportunities for extracellular matrix market by enabling the development of novel biomaterials. This emerging area holds great promise for engineering complex tissues and driving innovation in extracellular matrix products.

Extracellular Matrix Market Is Estimated To Witness High Growth Owing To Increasing Demand for Regenerative Medicine

Poonam 2023-09-11

The global Extracellular Matrix Market is estimated to be valued at US$ 46. 3D cell culture systems mimic the in vivo environment more accurately compared to traditional two-dimensional (2D) cell culture systems. The extracellular matrix market is projected to witness significant growth in the coming years due to the increasing demand for regenerative medicine and the adoption of 3D cell culture systems. Economic: Economic factors affecting the extracellular matrix market include factors such as GDP growth, healthcare expenditure, and disposable income. Regional analysis: North America is expected to be the fastest-growing and dominating region in the extracellular matrix market.

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