Over 180,000 people are burned to death every year, the World Health Organization (WHO) had estimated in 2018. Additionally, burns are the leading cause of disability-adjusted life years (DALY) in low- and middle-income countries. Such incidents often lead to nasty scars, as the skin peels or melts. In severe cases, the skin is damaged so much that it is unable to heal or grow back on its own, which results in skin grafting procedures.
Thus, with the increasing incidence of burn injuries, the skin replacement and substitutes market, which valued $838.0 million in 2018, is predicted to grow to $1,202.2 million by 2024, at a CAGR of 6.3% during 2019–2024 (forecast period). The usage of such products helps close and mend the wound as well as reduce the pain, which is why they are witnessing a rising adoption around the world. There are two primary types of skin replacement and substitute products available — cellular and acellular — of which the acellular variants are more in demand, as they can be used for excised and superficial wounds, even in pediatric patients.
All the cellular and acellular products are further segregated as class I, II, and III. Of these, class III products account for the widest adoption, as they can effectively mend the dermis as well as the epidermis, which makes them suitable for ulcers, burns, and numerous other kinds of wounds. Ulcers, in particular, can result in the loss of the entire epidermal layer, as well as the dermal layer and subcutaneous fat, in severe cases. If left untreated, skin ulcers can morph into full-blown gangrene, the treatment for which is amputation, which is why an increasing number of people are seeking treatment for them.
Another reason for the rising demand for such products is the growing disposable income of people around the world. According to the World Bank, the worldwide gross domestic product (GDP) per capita surged from $8,820.013 in 2009 to $11,312.555 in 2018. This rising purchasing power is enabling people to spend more on their appearance, which is why they are rapidly going for dermatological treatments, even if they are lot life-threatening, thereby leading to the surging demand for skin replacement and substitute products.
Therefore, with more people suffering from burns and skin diseases, the demand for products which help treat the wounds will also increase.
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