The medical collagen market is expected to reach 957.4 million by 2028 from US$ 593.7 million in 2020; it is estimated to grow at a CAGR of 6.2% from 2021 to 2028. The growth of the market is mainly attributed to the rising applications of collagen in the medical industry, and increasing number of FDA approvals and product launches. However, product recalls hinder the 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 US Food and Drug Administration (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 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 are further driving the growth of the medical collagen market.
Based on application, the medical collagen market is segmented into haemostats, vascular grafts, tissue scaffolds, cartilage repair, wound care, bone grafts, diagnostics, and other.The wound care segment held the largest share of the market in 2020, and the bone grafts segment is estimated to register the highest CAGR in the market during the forecast period.
A few factors contributing to the market growth for the wound care segment are the increasing prevalence of chronic diseases and conditions affecting wound healing capabilities, growing funds for wound care research, increasing number of road accidents and trauma injuries, and rising use of regenerative medicine in wound management.
The World Health Organization, National Health Service, Centers for Disease Control and Prevention, Organization for Economic Co-operation and Development, National Department of Health, and International Federation of Diabetes along with company websites are among the major primary and secondary sources referred to while preparing the report on the medical collagen market.
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