Extracellular Matrix Market to 2027 - Global Analysis and Forecasts By Application (Vascular Repair and Reconstruction, Dural Repair, Wound Healing, Cardiac Repair, Pericardial Repair, Soft Tissue Repair); Raw Material (Bovine, Porcine, Other Raw Material)and Geography
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The Extracellular Matrix in healthcare market was valued at US$ 24.30 million in 2018 and it is projected to reach US$ 47.46 million by 2027; it is expected to grow at a CAGR of 7.8% from 2019 to 2027.
Extracellular matrix is present in outer side of the tissues and it helps tissues to bind the cells with collagen. It consists of structural proteins, glycoproteins, glycosaminoglycan and proteoglycans. Extracellular matrix enables recipient cells to regrow and thus it is used in various applications which include cardiac and vascular repair procedure. The growth of the Extracellular Matrix in healthcare market is attributed to the growth of the market are significantly increasing incidences of trauma and cardiovascular diseases, increasing vascular reconstruction procedures and increasing product launches. The market for the extracellular matrix is an emerging market which is has some challenges among which one of the challenge is using of decellularized extracellular matrix for the cardiovascular conditions.
The Extracellular Matrix in healthcare market is expected to witness substantial growth post-pandemic. The COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The COVID-19 crisis has overburdened public health systems in many countries and highlighted the strong need for sustainable investment in health systems. As the COVID-19 pandemic progresses, the healthcare industry is expected to see a drop in growth. The life sciences segment thrives due to increased demand for invitro diagnostic products and rising research and development activities worldwide. However, the medical technologies and imaging segment is witnessing drop in sales due to a smaller number of surgeries being carried out and delayed or prolonged equipment procurement. Additionally, virtual consultations by healthcare professionals are expected to become the mainstream care delivery model post-pandemic. With telehealth transforming care delivery, digital health will continue to thrive in coming years. In addition, disrupted clinical trials and the subsequent delay in drug launches is also expected to pave the way for entirely virtual trials in the future. New technologies such as mRNA is expected to emerge and shift the pharmaceutical industry and market is also expected to witness more vertical integration and joint ventures in coming years.
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Market Insights
Growing Applications of Extracellular Matrix in Healthcare to Drive Extracellular Matrix in Healthcare Market Growth
The significantly rising incidences of the orthopedic trauma conditions and cardiovascular diseases among others are the leading factors for the market growth. As a part of the treatment extracellular matrix serve several advantages for treating different chronic injuries caused due to surgery, accidents, chronic diseases and others.
Chronic diseases such as cancer, heart diseases, musculoskeletal diseases, and others are the leading causes of death and disability. The awareness about the technologically advanced treatment and minimally invasive procedures demands treatments that are effective in less time. Thus, one of the advantage of the extracellular matrix serve the demand of the patients. However, technically advanced procedures requires higher care cost, for instance, according to the National Center for Chronic Disease Prevention and Health Promotion, chronic diseases takes up US$3.3 trillion in annual health care costs. Therefore, the higher expenditures are also expected to drive the growth of market and provide better services.
In addition, the surgical orthopedic treatment including joint arthroscopy, fracture repair, general repair procedures on damaged muscle or tendon and corrective surgery requires extracellular matrix. These conditions are generally caused due to the sports and road accidents. For instance, according to the National Safety Council, in 2015, in the US, population in the age group from 5 to 14 accounted to 51% of total football injuries treated in emergency rooms. Also, as per the Fédération Internationale de Football Association (FIFA) stated that the knee, ankle, and hamstring incur the most orthopedic injuries. The total of football injuries treated at the U.S. hospital emergency rooms were approximately 239,943. Out of these injuries nearly 79,384 were strains and sprains, around 48,806 were fractures, and nearly 5,401 were dislocations.
Moreover, the incidences of the heart failure and myocardial infraction are increasing among the ageing population. The minimally invasive treatment for these cardiovascular treatments procedures requires extracellular matrix. During the heart disease a patient fails to restore the functional properties of cardiac tissue. Therefore, the ability of the extracellular matrix to regrow and to promote adaptive repair and regeneration enables patients to recover its normal functions. Also it has shown promising clinical outcomes for tissue engineering in the treatment of cardiovascular diseases and other health conditions.
Furthermore the rising incidences of cardiovascular diseases are expected to drive the growth for the extracellular matrix. For instance according to WHO data published in 2017, states that, in 2016, approximately 17.9 million people died from
CVDs, which was 31.0% of all the global deaths. Among these approximately 85% were due to heart attack and stroke. According to the European Cardiovascular Disease Statistics 2017, in Europe, every year cardiovascular disease (CVD) causes 3.9 million deaths and more than 1.8 million deaths in the European Union (EU).
The CVD accounts for 45.0% of all deaths in Europe and 37.0% of all deaths in the EU. CVD is the major reason of the death in men and women in all countries. Furthermore, as per the American Heart Association (AHA) 2019 statistics, 121.5 million adults in the U.S. which is around half of the US adult population, suffers from cardiovascular disease.
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.
The increasing 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.
Moreover, the rise in the treatment for the musculoskeletal diseases are also expected to drive the market growth. For instance, according to WHO it is reported that between 20%–33% of people across the globe live with a painful musculoskeletal condition. Musculoskeletal diseases are one of the most common causes of severe and long-term pain as well as physical disability in the US. According to the American Society of Orthopedic Surgeons (ASOS), an estimated 126.6 million Americans in 2016 were affected by a musculoskeletal condition.
Moreover, the studies have shown positive results of extracellular matrix to treat various cancers as it plays important role for restraining the growth of the cancer cells. Most of major cell behavior and developmental processes are targeted for the deregulation of the cancer cells. Thus, benefits of the extracellular matrix are enabling to treat cancer effectively, and the rising number of cases cancer cases are likely to demand extracellular matrix. Thus, owing to the above mentioned factors the market is likely to grow significantly during the forecast period.
The market for the extracellular matrix is majorly driven by the increasing product launches in market. The market is experiencing increase in the number of the market players. The market players are involved in various developmental activities that has resulted into product launches. The below table enlists the recent product launches in the extracellular matrix market. The below enlisted products has enabled market players to mark a good position in the global extracellular matrix market. The products have met the requirement and demand of the healthcare professionals to treat patients.
Also it is expected that such more product launches are likely to drive the growth of the market during the forecast period.
Application -Based Insights
In terms of application, the Extracellular Matrix in healthcare market is segmented into vascular repair and reconstruction, dural repair, wound healing, cardiac repair, pericardial repair, soft tissue repair. In 2018, the soft tissue repair segment held a largest market share of 26.46% of the extracellular matrix market, by application.
Extracellular Matrix in Healthcare Market, by Application – 2018 and 2027
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Raw Materials-Based Insights
In terms of raw materials, the Extracellular Matrix in healthcare market is segmented into bovine, porcine, other raw material. In 2018, the porcine held a largest market share of 41.09% of the extracellular matrix market, by raw material.
Strategic Insights
The Extracellular Matrix in healthcare market players are adopting the product launch and expansion strategies to cater to changing customer demands worldwide, which also allows them to maintain their brand name globally.
Extracellular Matrix in Healthcare Market – by Application
- Robot Assisted Surgery
- Virtual Assistants
- Administrative Workflow Assistants
- Connected Machines
- Diagnosis
Extracellular Matrix in Healthcare Market – by Raw Materials
- Hospitals & Healthcare Providers
- Patients
- Pharma & Biotech Companies
- Healthcare Payers
- Others
Extracellular Matrix in Healthcare Market – by Geography
- North America
- US
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- UK
- Spain
- Rest of Europe
- Asia Pacific (APAC)
- China
- India
- South Korea
- Japan
- Australia
- Rest of APAC
- Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
- South America and Central America (SCAM)
- Brazil
- Argentina
- Rest of SCAM
Company Profiles
- Admedus
- Coloplast Group
- Merck KGaA
- Smith & Nephew
- MTF Biologics
- Lattice Biologics Ltd.
- COOK BIOTECH, INC.
- Medtronic
- Aziyo Biologics, Inc.
- DSM Biomedical
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the extracellular matrix market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the global extracellular matrix market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.