The Extracellular Matrix market size is worth $52.72 million, globally, by 2028 at a CAGR of 7.6%

Insight Partners

The market size of Extracellular Matrix is ​​expected to reach USD 52.72 million by 2028, from USD 31.49 million in 2021. It is estimated to grow at a CAGR of 7.6% from 2021 to 2028.

New York, Feb 11. 2022 (GLOBE NEWSWIRE) — The latest research study on “Extracellular Matrix Market Forecast to 2028 – Impact of COVID-19 and Global Analysis by Commodity (Bovine, Porcine and Other Commodity) and Application (Soft Tissue Repair, Dural Repair, Wound Healing, Cardiac Repair, Pericardial Repair and Repair and vascular reconstruction)”, published by The Insight Partners. The growth of the extracellular matrix market is driven by the significant increase in cardiovascular disease and trauma and an increase in vascular reconstructive procedures. However, the challenges encountered while using decellularized extracellular matrix are hampering the market growth. On the other hand, untapped opportunities in developing countries are expected to provide lucrative prospects for market players to capitalize and expand their customer base in Asia and Latin America.

Report cover

Details

Market size Value in

$31.49 million in 2021

Market Size Value by

$52.72 million by 2028

Rate of growth

CAGR of 7.6% from 2021 to 2028.

Forecast period

2021-2028

Year of reference

2021

Number of pages

160

Number of tables

57

Number of graphs and figures

72

Historical data available

Yes

Segments Covered

Raw material and application

Regional scope

North America; Europe; Asia Pacific; Latin America; AEM

Country scope

United States, United Kingdom, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina

Report cover

Revenue Forecast, Business Ranking, Competitive Landscape, Growth Factors and Trends

Extracellular Matrix Market: Competitive Landscape and Key Developments
Anteris, Aziyo Biologics, Inc.; Coloplast Group; Cook Biotech, Inc.; DSM Biomedical; Baxter International Inc.; Medtronic; Merck KGaA; MTF Biologics; and Smith & Nephew are the leading companies operating in the global extracellular matrix market. These players are focused on expanding, diversifying their market presence and acquiring new customer base, thereby exploiting existing business opportunities.

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In February 2021, Aziyo Biologics. announced the completion of product design for Cangaroo with Antibiotics, the next generation of the company’s canGaroo envelope. CanGaroo is the only commercially available biological envelope that produces a natural, vascularized pocket for the implantation of electronic devices. The new product design incorporates CanGaroo tissue technology, which has been enhanced with the antibiotics rifampin and minocycline to reduce the risk of postoperative infections.

In August 2021, Medtronic announced that it had entered into a definitive agreement with Intersect ENT, a global leader in ENT medical technology, dedicated to transforming patient care.

In January 2021, Merck KGaA announced a strategically focused expansion of its neurology pipeline with the acquisition of Chord therapys, a Switzerland-based biotherapeutics company focused on rare neurological disorders.

In 2020, North America dominated the extracellular matrix market. The United States holds the largest market share in this region. The growth of the market in the country is attributed to the growing prevalence of wounds and injuries. It is mainly driven by the significant increase in cardiovascular disorders within the American population. According to the American Heart Association report released in 2019, approximately 840,678 people died in 2016 due to any cause of cardiovascular disease. It is stated that one in three people die due to heart problems.

Another major cause of market growth is diabetic foot ulcer. This is a serious complication associated with diabetes mellitus. Extracellular matrix is ​​used to treat this type of foot ulcer, also called diabetic foot. Along with cardiovascular disease, the prevalence of diabetes has also increased. According to the Centers for Disease Control and Prevention’s Diabetes Report Card, published in 2018, approximately 1,500 new cases of diabetes were diagnosed in people between the ages of 18 and 79 in 2017. These facts indicate that the increasing prevalence of chronic diseases and wound diseases are likely to propel the market during the forecast period.

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Rising Incidence of Cardiovascular Disorders and Trauma is Driving the Growth of the Extracellular Matrix Market:
The significant increase in the cases of orthopedic trauma and cardiovascular diseases is the main growth factor for the global extracellular matrix market. As part of treatment, the extracellular matrix offers several benefits in the treatment of different chronic injuries caused by surgery, accidents, chronic illnesses and other incidents. In addition, the incidences of heart failure and myocardial infarction are increasing in the aging population. The minimally invasive treatment of these cardiovascular treatment procedures requires an extracellular matrix. A patient with heart disease fails to restore the functional properties of heart tissue. The ability of the extracellular matrix to regrow and promote adaptive repair and regeneration allows patients to return to normal functions. Additionally, it has shown promising clinical results for tissue engineering in the treatment of cardiovascular disease and other health issues.

In addition, the increasing incidence of cardiovascular disease is expected to stimulate extracellular matrix growth. For example, according to WHO data released in 2019, an estimated 17.9 million people died from cardiovascular diseases in 2019, accounting for 32% of all deaths worldwide. Of these deaths, 85% were due to heart attack and stroke. According to the European Cardiovascular Disease Statistics Report 2017, in Europe, cardiovascular disease (CVD) causes 3.9 million deaths each year and over 1.8 million deaths in the European Union (EU).

Extracellular Matrix Market: Segmental Overview
On the basis of raw material, the extracellular matrix market is segmented into bovine, porcine and other raw materials. The porcine segment is expected to hold the largest share of 43.76% of the extracellular matrix market in 2021.

Based on application, the extracellular matrix market has been segmented into soft tissue repair, dural repair, wound healing, cardiac repair, pericardial repair, and vascular repair and reconstruction. The soft tissue repair segment is expected to account for a larger market share in 2021. However, the vascular repair and reconstruction segment is expected to register a higher CAGR in the market during the forecast period.

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The COVID-19 pandemic has strongly affected North American countries, including the United States and Canada. These countries have reported the highest number of COVID-19 positive cases. The United States has recorded the highest number of deaths from the COVID-19 pandemic. With the chaotic situation that has erupted in the medical industry across the region, the demand for diagnostic and therapeutic devices has increased significantly in hospitals. For example, the demand for ventilators, ventilators and in vitro diagnostic (IVD) tests has increased dramatically in hospitals across North America.

The FDA has stepped up its efforts to support people’s health and has imposed several guidelines on hospitals and medical device companies. Various companies have also strengthened their research and development activities for diagnostic tests and therapeutic devices. Although the health sector has experienced SARS, H1N1 and other epidemics in recent years, the severity of COVID-19 has made the situation more complicated due to its mode of transmission. North America has seen an increasing number of cases of COVID-19 since its emergence. The pandemic is straining public health systems around the world, interrupting and delaying many essential health services. A recent survey by the World Health Organization (WHO) indicates that health care is among the most frequently interrupted services due to the pandemic.

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