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
The global extracellular matrix market accounted to US$ 24.30 Mn in 2018 and is expected to grow at a CAGR of 8.2% during the forecast period 2019 – 2027, to account to US$ 47.46Mn by 2027.
Asia Pacific is the fastest growing geographic market and it is expected to be the fastest revenue contributor throughout the forecast period. Asia Pacific is recognized as a developing market for the medical devices.
The growth is driven by that countries such as China, Japan, and India which are engaged in conducting several studies. For instance, Australia is also involved in the several studies and also it has held various conferences for the tissue engineering and other application of the extracellular matrix.
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Organic and inorganic growth strategies were observed in global extracellular matrix industry. The organic strategies which were conducted more compared to the inorganic strategies for the extracellular matrix.
For instance, in March, 2019, MTF Biologics launched CartiMax Viable Cartilage, for easily filling the lesions in the knee, foot and ankle.
The launch demonstrates stable viability post-cryopreservation and provides the clinical benefits of, viable cartilage matrix with live cells. Thus, the organic strategy has enabled the company to grow its business in the market.
Increasing Vascular Reconstruction Procedures
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.
Opportunities To Treat Cancer
The studies for the molecular cell biology of extracellular matrix (ECM) are being conducted across the world. The cell adhesion molecules (CAMs), other properties and advantages of the extracellular matrix are turning out to be beneficial area of discovery with several interesting factors for disease and disorders in animals and humans.
These advantages are also include treating of some cancers such as breast cancer, pancreatic cancer, liver cancer and colon cancer.
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.
Raw Material Insights
The global extracellular matrix market by raw material segments was led by porcine segment. In 2018, the porcine segment held a largest market share of 41.09% of the extracellular matrix market, by raw material.
However, the bovine segment is expected to be the fastest growing segments of the market in 2027 owing to more beneficial properties to treat various conditions which is expected to become the major factor for the growth of the extracellular matrix market.
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