Report : Asia Pacific Medical Collagen Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Source (Bovine, Porcine, and Others), Product (Gelatine, Hydrolysed Collagen, Native Collagen, and Others), and Application (Wound Care, Bone Grafts, Tissue Scaffolds, Cartilage Repair, Haemostats, Diagnostics, Vascular Grafts, and Others)
The bovine segment by source is estimated to lead the market growth during the forecast period.
According to a new market research study of “Asia Pacific Medical Collagen Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Source, Product, Application and Country.” The Asia Pacific medical collagen market is expected to reach US$ 188.51 million by 2028 from US$ 118.73 million in 2021; it is estimated to grow at a CAGR of 6.8% from 2021 to 2028. The report highlights trends prevailing in the Asia Pacific medical collagen market and the factors driving market along with those that act as hindrances.
A medical product with collagen as a part is being studied to treat several conditions. Owing to its clinical and consumer acceptance, it is widely used as medical material. Collagen- based medical products such as bioprosthetic heart valves, arterial replacements, sutures used in surgical procedures, and wound dressings have been widely adopted. Thus, several research studies are being conducted to develop new collagen-based medical products. For instance, in 2020, MPM Medical initiated its CoMatryx Surgical Bovine Collagen Study. CoMatryx surgical collagen powder is a soft tissue repair product made of 100% Type-I Bovine collagen. Furthermore, research is being conducted to discover new sources of collagen for medical biomaterials. For instance, the study ‘Tilapia (Oreochromis aureus) Collagen for Medical Biomaterials’ was published in 2018. The researchers studied the potentials of tilapia skin as an alternative source of collagen for its application in medical biomaterial. Thus, the increasing research activities for collagen-based medical products are likely to drive the growth of the market during the forecast period. Also, the surge in disposable income, introduction of advanced technologies, and better aftercare have uplifted the number of cosmetic procedures being performed. Multinational corporations in the skin aesthetic industry have been prominently targeting India's huge population. As per the World Economic Forum, the number of households in India with disposable incomes of over US$ 10,000 increased 20-folds, from 2.5 million in 1990 to ~50 million in 2015. Thus, the growth in disposable income has enabled them to afford high-cost healthcare procedures such as cosmetic, orthopedic, and dental procedures thereby propelling the market growth.
Countries in Asia Pacific are facing challenges due to the increasing number of COVID-19 positive patients. The current scenario of COVID-19 pandemic has driven the governments to predominantly concentrate on containing the spread to COVID-19, due to which the focus on cosmetic treatments has temporarily drifted. The dermatology clinics, hospitals, and surgical centers are open for only emergency services. Also, medical tourism has declined in response to the pandemic in countries such as South Korea and Japan, thereby having a negative impact on the cosmetic industry and consequently affected the performance of the medical collagen market in Asia Pacific.
The Asia Pacific medical collagen market, by source, is segmented into bovine, porcine, and others. The Asia Pacific medical collagen market, by product, is segmented into gelatine, hydrolysed collagen, native collagen, and others. Based on application, the Asia Pacific medical collagen market has been segmented into haemostats, vascular grafts, tissue scaffolds, cartilage repair, wound care, bone grafts, diagnostics, and other. Geographically, the Asia Pacific medical collagen market can be sub-segmented into China, Japan, India, Australia, South Korea and Rest of Asia Pacific.
ENCOLL Corp, GELITA AG, Collagen Matrix, Inc., Integra Life Sciences Corporation and Croda International plc are among the leading companies operating in the Asia Pacific medical collagen market.
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