Report : Europe Extracellular Matrix Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Raw Material (Bovine, Porcine, and Other Raw Material), Application (Soft Tissue Repair, Dural Repair, Wound Healing, Cardiac Repair, Pericardial Repair, and Vascular Repair and Reconstruction)
Porcine Segment has the Largest Share of Raw Material in the Europe Extracellular Matrix Market during 2021–2028
According to our latest study on “Europe Extracellular Matrix Market Forecast to 2028 – COVID-19 Impact and Analysis – by Raw Material, and Application,” the market is projected to reach US$ 15,712.1 Thousands by 2028 from US$ 9,301.4 Thousands in 2021; it is expected to grow at a CAGR of 7.8% from 2021 to 2028. The report highlights trends prevailing in the market, and the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as the significantly are increasing incidences of trauma and cardiovascular diseases and increasing vascular reconstruction procedures. However, challenges during the usage of decellularized extracellular matrix are expected to restrict the market growth during the forecast period.
The pandemic has enforced the research institutes and pharmaceutical companies to develop effective drug therapies for treatment of covid-19 thus, the market is expected to witness slow growth during the forecast period. Moreover, due to countrywide lockdowns and restrictions most of surgical procedures across the regions got postponed and delayed thus resulted in lack of demand for extracellular matrix derived products. Moreover, The COVID-19 outbreak is likely to impact the extracellular matrix market in the initial phase of the forecast period. Owing to nationwide lockdowns, denied wound care services, postponed or canceled elective surgeries, delays in clinical trials for novel therapies etc. Thus, the pandemic is expected to have a negative impact on market growth during the forecast period.
Based on raw materials, the Europe extracellular matrix market is bifurcated into bovine, porcine, and others. In 2021, the porcine segment is likely to account for the largest share of the market. However, the bovine segment is estimated to register the highest CAGR during the forecast period. Extracellular matrix made of porcine are derived from porcine adipose tissue, urinary bladder, or mammary fatty tissues. The most common parts of pigs such as skin and bones are used to derive extracellular matrix. The extracellular matrix derived from skin and bone are commonly used for the industrial purpose. Porcine collage is almost similar to human collagen, and it does not cause allergic response when used.
Medtronic, Merck Kgaa, Smith & Nephew, Anteris, Coloplast Group, Baxter, DSM, and Cook Biotech are among the leading companies in the Europe extracellular matrix market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
The market for extracellular matrix market is segmented into raw material, and application. Based on raw material, the Europe extracellular matrix market is segmented into bovine, porcine, and others. Based on application, the extracellular matrix market is segmented into soft tissue repair, dural repair, wound healing, cardiac repair, pericardial repair, and vascular repair and reconstruction. Geographically, the extracellular matrix market is segmented into Europe (Germany, UK, France, Spain, Italy, Rest of Europe).
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