by Extracellular matrix consists of extracellular components found within animal tissues and scaffolds that provide structural and biochemical support to surrounding cells. These comprise of proteins, glycoproteins and polysaccharides and play a crucial role in tissue development by providing signals that regulate cell behavior. Due to the increasing prevalence of chronic diseases worldwide, the demand for extracellular matrix has augmented significantly.
The global Extracellular Matrix Market is estimated to be valued at US$ 4.57 billion in 2024 and is expected to exhibit a CAGR of 7.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rise in chronic diseases: Chronic diseases such as cancer, cardiovascular disease etc contribute significantly to mortality and morbidity rates worldwide. The growing patient pool suffering from these diseases is prompting increased demand for extracellular matrix. As per the World Health Organization (WHO), chronic diseases accounted for 71% of global deaths in 2019. The prevalence of these diseases and their treatment drives the need for extracellular matrix in regenerative therapies and thus acts as a major growth promoting trend for this market.
SWOT Analysis
Strength: Extracellular matrix market has strong growth opportunity in tissue engineering and regenerative medicine. It facilitates repairing and replacement of damaged tissues and organs.
Weakness: High production cost of extracellular matrix due to requirement of specialized production facilities for its manufacturing.
Opportunity: Rising funding for research activities in regenerative medicine provides growth opportunity. Growing demand for advanced treatment offers for various chronic diseases presents scope.
Threats: Strict regulatory environment for approval of new products poses challenges. Emergence of alternative treatment methods can threaten market potential.
Key Takeaways
The Global Extracellular Matrix Market Share is expected to witness high growth over the forecast period of 2024 to 2031. The global Extracellular Matrix Market is estimated to be valued at US$ 4.57 billion in 2024 and is expected to exhibit a CAGR of 7.5% over the forecast period 2024 to 2031.
Regional analysis: North America holds the largest share of the global extracellular matrix market due to well-established healthcare infrastructure and increasing adoption of advanced medical technologies. The rising aging population and growing incidence of chronic diseases also support market expansion in the region. Asia Pacific is anticipated to show lucrative growth opportunities over the coming years owing to improving medical facilities and increasing healthcare investments in emerging countries.
Key players: Key players operating in the extracellular matrix market include Abbott, Aziyo Biologics, Baxter, DSM, Medtronic etc. These companies focus on new product launches and enhancements. They invest heavily in R&D to develop innovative extracellular matrix solutions for use in various clinical areas like wound healing, tissue regeneration and others.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
