The global collagen market displays a moderate level of competition. This is because the market is fragmented due to the presence of small and local players. Some of the key players in the global collagen market are Baotou Dongbao Bio-Tech Co. Ltd., Collagen Matrix Inc., CollPlant Ltd., Kyeron B.V., Nippi Inc., botiss biomaterials GmbH, Collagen Solutions plc, EternoGen LLC, Medtronic plc, and Taxus Cardium Pharmaceuticals Group.
The development and showcase of newer products is one of the key growth strategies adopted by leading players in the global collagen market. A case in point is biotiss biomaterials GmbH. The company launched three innovative products at the International Dental Show at Cologne, Germany in March 2015. These are maxgraft cortico, collacone, and an enhanced version of mucoderm that are synthesized of natural collagen.
The global collagen market was worth US$4.1 bn in 2014 and is expected to be worth US$9.3 bn by 2023, expanding at a CAGR of 9.4% between 2015 and 2023.
Bovine, Porcine Sources Collagen Market to Witness Decline in Future
On the basis of application, the collagen market is segmented into tissue engineering and drug delivery systems. Of the two, the tissue engineering segment is expected to display a considerable growth rate due to the increased usage of collagen-based implants in wound healing and skin replacement exercises. The tissue engineering application segment will expand at a CAGR of 10.4% between 2015 and 2023.
By source, marine collagen is expected to witness a high growth rate in the coming years as it is considered to be the safest collagen source amongst all possible collagen sources. The segment is expected to expand at a CAGR of 11.6% from 2015 to 2023 by volume.
North America and Europe collectively held more than 60% of the global collagen market in 2014. This is mainly due to the presence of well-established manufacturing infrastructure and increasing utilization of collagen across industries. However, Asia Pacific is expected to present lucrative growth opportunities to the global collagen market during the forecast period. This is mainly due to the increasing government involvement in this region towards raising awareness about the health benefits of collagen-based products. As such, collagen-based products will be used for a large population of 60 years and above in this region, which is expected to rise in the coming years. The Asia Pacific collagen market will display a promising CAGR of 10.7% between 2015 and 2023.
Increasing Demand for Biodegradable Drug-delivery Apparatus Drives Growth
Advancement in tissue repair science is of paramount importance to prevent skin diseases that can lead to impaired physiological processes. The extensive research and development activities in regenerative medicine and wound healing is one of the foremost factors driving the global collagen market, says the author of the report.
The rising commercialization of collagen-based drug delivery systems is also aiding the growth of the global collagen market. This is because collagen offers several advantages as a biomaterial and is increasingly used as a carrier for the delivery of drug, gene, and protein.
However, the risk of disease transmission from porcine and bovine collagen sources is hindering the growth of this market. For instance, collagen obtained from cattle and used for reconstructive and cosmetic surgery is under investigation for chances of transmission of mad cow disease. Other than this, cultural and religious beliefs of communities that dissuade the utilization of animal sources collagen products are slowing the growth of the global collagen market.
Nevertheless, the rising preference for minimally invasive technologies for medical procedures is expected to open growth avenues for this market. Moreover, the increasing demand for novel sources of collagen will lead to the development of the global collagen market.
This review is based on the findings of a Transparency Market Research report, titled “Collagen Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2023.”
The global collagen market is segmented as follows:
Global Collagen Market, by Source
Global Collagen Market, by Application
- Drug Delivery Systems
- Collagen Shields
- Sustain Drug Delivery
- Transdermal Patches
- Tissue Engineering
- Skin Replacement
- Bone Substitute
Global Collagen Market, by Geography
- North America
- Asia Pacific
- Latin America
- Rest of the World
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