Porcine Segment has the Largest Share of Raw Material in the Asia Pacific Extracellular Matrix Market during 2021–2028

According to our latest study on “Asia Pacific Extracellular Matrix Market Forecast to 2028 – COVID-19 Impact and Analysis – by Raw Material, and Application,” the market is projected to reach US$ 11,837.5 Thousands by 2028 from US$ 6,801.8 Thousands in 2021; it is expected to grow at a CAGR of 8.2% from 2021 to 2028. The report highlights trends prevailing in the market, and the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as the significantly are increasing incidences of trauma and cardiovascular diseases and increasing vascular reconstruction procedures. However, challenges during the usage of decellularized extracellular matrix are expected to restrict the market growth during the forecast period.

Prohibited measures have been taken to contain the spread of this pandemic. The COVID-19 pandemic has largely affected the economies in the Asia-Pacific region. Countries like India, China, Japan, and South Korea have been affected by the pandemic. The socio-economy was badly hit, with negative inflation, GDP, and unemployment rising in the region. The pandemic has affected three main aspects of the global economy: manufacturing, supply chain, and business and financial markets. Japan, China, South Korea, India, and Australia are the hardest-hit countries due to the rising number of COVID-19 cases and related deaths. Medical device manufacturers and suppliers are shifting their focus to developing and supplying COVID-19 essentials and medical devices for respiratory diseases. This scenario harms the market. This pandemic is affecting the operations of the various key players operating in this region.

Based on raw materials, the Asia Pacific extracellular matrix market is bifurcated into bovine, porcine, and others. In 2021, the porcine segment is likely to account for the largest share of the market. However, the bovine segment is estimated to register the highest CAGR during the forecast period. Extracellular matrix made of porcine are derived from porcine adipose tissue, urinary bladder, or mammary fatty tissues. The most common parts of pigs such as skin and bones are used to derive extracellular matrix. The extracellular matrix derived from skin and bone are commonly used for the industrial purpose. Porcine collage is almost similar to human collagen, and it does not cause allergic response when used.

Medtronic, Merck Kgaa, Smith & Nephew, Anteris, Coloplast Group, Baxter, DSM, and Cook Biotech are among the leading companies in the Asia Pacific extracellular matrix market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.

The market for extracellular matrix market is segmented into raw material, and application. Based on raw material, the Asia Pacific extracellular matrix market is segmented into bovine, porcine, and others. Based on application, the extracellular matrix market is segmented into soft tissue repair, dural repair, wound healing, cardiac repair, pericardial repair, and vascular repair and reconstruction. Geographically, the extracellular matrix market is segmented into Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia Pacific).

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