Medical Collagen Market worth US$ 957.4 million by 2028 - Exclusive Research by The Insight Partners

NEW YORK, Nov. 9, 2021 /PRNewswire/ -- According to The Insight Partners study on "Medical Collagen Market to 2028 – Global Analysis and Forecast – by Source, Product, Application, and Geography," the medical collagen market is projected to reach US$ 957.4 million by 2028 from US$ 629.2 million in 2021; it is expected to grow at a CAGR of 6.2% during 2021-2028. The market growth is attributed to rising applications of collagen in medical industry, and surge in FDA approvals and product launches.

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In 2020, North America dominated the global medical collagen market. The market growth in the region is attributed to the demand for medical collagen in reconstructive surgeries, tissue engineering, bone grafts, and wounds and burn injury treatments, among others. Moreover, frequent products launches are augmenting the growth of the market. In April 2019, Collagen Matrix, Inc., received an FDA approval for its innovative line of Mineral Collagen Composite Bioactive Moldable Bone Graft Matrix. The OssiMend Bioactive Moldable Bone Graft Matrix is a fine combination of an organic carbonate apatite bone mineral, 45S5 bioactive glass, and highly purified Type I collagen that can be molded into putty for filling irregular defect sites. The new matrix joined the company's wide range of implantable collagen and mineral based medical devices. However, The COVID-19 pandemic is straining public health systems in the region, interrupting, and delaying many kinds of critical health care. A recent survey by the World Health Organization found that health services are among the most frequently disrupted. 7 in 10 countries around the world are experiencing disruptions along with United states, Canada, and Mexico. In addition, low-income countries face additional challenges due to the shortage of healthcare infrastructure. Restrictive measures have been put forth in South Korea, Malaysia, Singapore, the Philippines, and India to prevent disease transmission. All these factors will impact the medical collagen market for a short period of time.

Based on source, the medical collagen market is segmented into bovine, porcine, and others. The bovine segment held the largest market share in 2020, and it is further anticipated to register the highest CAGR in the market during the forecast period. Based on product, the medical collagen market is segmented into gelatin, hydrolyzed collagen, native collagen, and others. The gelatin segment held 35.69% of the market share in 2020. On the basis of application, the medical collagen market is segmented into hemostats, vascular grafts, tissue scaffolds, cartilage repair, wound care, bone grafts, diagnostics, and others. The wound care segment held the largest market share in 2020; however, the bone grafts segment is anticipated to register a significant CAGR during 2021–2028.

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Growing FDA Approvals and Product Launches Fuels Medical Collagen Market Growth

Various players operating in medical collagen market are developing and launching new products to expand their geographic reach and capacity to cater many customers. For instance, in April 2019, Collagen Matrix, Inc., a leading company in regenerative medicine, manufacturing collagen, and mineral based medical devices, received FDA 510(k) approval for its innovative line of OssiMend mineral collagen composite bioactive moldable bone graft matrix.

Further, in 2018, Wright Medical Group N.V. received FDA approval for its AUGMENT Injectable Bone Graft. It consists of recombinant human platelet derived growth factor and a blend of Type-I collagen and beta tri-calcium phosphate. Similarly, in 2016, the US Food and Drug Administration (FDA) approved Avedro's corneal collagen cross-linking (CXL) to treat keratoconus and other types of corneal ectasia. Constant advancements in products and the approvals of medical collagen products is further driving the growth of the medical collagen market.

Medical Collagen Market: Segmental Overview

In terms of application, the bone grafts segment is anticipated to register the highest CAGR in the medical collagen market during the forecast period. Factors favoring the growth of the segment are increasing prevalence of bone and joint disorders, rising demand for dental bone grafts, and organic and inorganic growth strategies by market players. In 2018, Collagen Matrix, Inc., a global manufacturer of collagen and mineral based medical devices, launched OssiMend bone graft matrices in Asia.

Medical Collagen Market: Competitive Landscape and Key Developments

DSM, Integra Lifesciences Corporation; Collagen Matrix, Inc.; Encoll, Collagen Solutions Plc; Innocoll; Symatese; Gelita Ag; Collplant Biotechnologies Ltd; and Croda Interntional PLC are among the key companies operating in the medical collagen market. Leading players are focusing on the launch of new products, expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.

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In October 2020, Innocoll launched XARACOLL (bupivacaine HCI) implant, indicated for postsurgical pain relief. XARACOLL is a unique, noninjectable, drug–device combination offered in the form of a fully bioresorbable collagen implant containing bupivacaine hydrochloride.

In July 2020, Collagen Solutions Plc and NovaBone has entered into new minimum three-year collaboration agreement for supply of specialized collagen biomaterials specific to their line of bone graft products used in orthopedic and dental applications.

In April 2019, the Spine business unit of Collagen Matrix, Inc. received an FDA approval for its innovative line of Mineral Collagen Composite Bioactive Moldable Bone Graft Matrix.

In October 2017, Integra LifeSciences has launched Revize and Revize-X Collagen Matrix for plastic and reconstructive surgery. Revize and Revize-X are derived from fetal bovine dermis, which is rich in Type III collagen. Revize-X is an expandable matrix that provides up to twice the initial coverage area once hydrated and fully expanded. It features a meshing pattern which allows for vascular in growth and increased conformability.

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