Collagen Sponge Market Size, Share, Growth, and Industry Growth, By Type (Cattle as Main Source and Pig as Main Source), By Application (Bleeding, Repair, and Fill), Regional Forecast To 2028

Updated On: 13 March 2023

REPORT OVERVIEW

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The global collagen sponge market size is expected to be USD 254.3 million in 2022 and the market is projected to touch USD 352.5 million by 2028, with a growing CAGR of 6.2% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with collagen sponge experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.

The most dominant protein in both animal and human bodies is collagen sponge. Due to its inclusion in the ECM of practically all human tissues, collagen is primarily utilized in tissue engineering applications. Due to its many benefits, including great biocompatibility, ease of supply, biodegradability, and high flexibility, collagen biomaterial offers a wide range of uses. The market is anticipated to expand quickly due to the rising geriatric population and the incidence of orthopedic illnesses. Other significant factors driving the market expansion include rising senior populations, rising healthcare costs, and growing awareness of the importance of eye care.

The product has a wide range of uses in the healthcare sector as well. The demand for gelatin and hydrolyzed collagen is predicted to increase, with a significant portion of that growth coming from the food and beverage sector. The product has numerous nutritional, skin, and health advantages and is a necessary protein for human health. The market's expansion has been hampered by worries about the spread of diseases from specific sources of raw materials. The use of animal-based raw materials and ingredients in the manufacturing of collagen is subject to laws and regulations that govern the industry.

COVID-19 Impact: Rising Health Concerns among the Population Boosted Product Demand

Due to the public's growing concern for their health during the COVID-19 outbreak, the market saw a rise in product demand. The collagen sponge is used in the medical, food and beverages, and cosmetic industry. Additionally, the rising concern for health and life was registered, which boosted the number of operations and surgeries in the global market. These factors surged the demand for the product in the market and had a favorable effect on the market growth. The rising number of cases led to more hospitalized patients, ultimately leading to the rise in product need. The pandemic, followed by the lockdown, led people to store basic medical essentials, which escalated the product need in the global market.

LATEST TRENDS

"Various End-Use Industries Use Of Products to Aid Market Growth"

The market is estimated to grow in the forecasted period owing to the rising sports injuries coupled with the demand for advanced wound management products. The use of products for tissue engineering of various organs and tissues is forecasted to surge growth in the global market. Collagen sponge is widely used in the healthcare sector for wound healing and provides various benefits for chronic and acute wound closure. Moreover, it controls the moisture of the wound by absorbing moisture. These factors are estimated to surge major market growth.

Segmentation

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• By Type Analysis

By type, the market is segmented into cattle as the main source and pigs as the main source.

• By Application Analysis

Based on application, the market is classified into bleeding, repair, and fill. 

DRIVING FACTORS

"Product Usage in Food and Beverage Industry to Surge Market Growth"

Rising end-use applications such as escalating usage of the product in the food and beverage industry is likely to foster collagen sponge market growth. The consistently rising number of geriatric population coupled with the rising prevalence of chronic diseases are projected to increase the product demand. Additionally, the rising awareness of the geriatric population suffering from diseases, increasing healthcare expenditure, and eye care are forecasted to surge growth in the global market.  

"Increasing Consumption of Cosmetic Products to Fuel Product Demand"

The steady consumption of cosmetics is leading to higher demand for them. The industry is using collagen sponge in cosmetics as it reduces aging lines and prevents the consumer's skin from getting wrinkled or aging. The rising popularity of the product benefits is forecasted to boost the demand for the product from the cosmetic industry. It is used in a water-soluble form in the cosmetics to culture the skin cells, which prevents skin aging. These factors are likely to lead to collagen sponge market growth. 

RESTRAINING FACTORS

"Concern for Disease Transfer to Affect Growth"

The rising concern for the transfer of diseases such as BSE (Bovine Spongiform Encephalopathy) to humans due to the higher consumption of bovine is forecasted to impede collagen sponge market growth. The higher cost associated with the product and the availability of alternatives product is projected to retard market growth. 

REGIONAL INSIGHTS

"Europe to Lead the Market Due to the Presence of Sugar Confectionary Manufacturers"

Europe is likely to hold a dominant part of the collagen sponge market share due to the presence of sugar confectionary manufacturers such as Astir and Britannia in the region.

North America is projected to dominate the market owing to the rising number of orthopedic disorders and reimbursement facilities. Additionally, the region is anticipated to surge in the market due to the rising popularity of products in the cosmetic industry.

Asia Pacific is likely to hold a commendable part of the collagen sponge market share owing to the presence of well-established food and meat processing industries in the region. 

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KEY INDUSTRY PLAYERS

"Key Players Must Focus On Product Development for Global Market Growth"

The businesses are working on developing new eco-friendly and advanced equipment and healthcare products that provide customers better effectiveness and greater value. Businesses also use innovation, acquisitions, and investments to try to increase sales. They are raising their production capacity in order to better serve their various markets. The marketplace is competitive as a result of the existence of numerous huge firms. An extensive worldwide consumer base and the execution of operations through specialized distribution networks are other characteristics. The key companies strive to gain a higher market share by launching new products. 

List of Market Players Profiled

• Johnson & Johnson (U.S.)
• BD (C R Bard) (U.S.A.)
• Integra Life Sciences (U.S.)
• RESORBA (Germany)
• Cologenesis Healthcare (India)
• Shanghai Haohai Biological Technology Co. Ltd. (China)
• Wuxi Biot Biology Technology Co.,Ltd (China)
• Guangzhou Trauer Biotechnology Co., Ltd (China)
• Beijing Yierkang Bioengineering Company Limited (China)

REPORT COVERAGE

The report covers various market aspects, such as:

• The product description is added to a brief about the product.
• Impacts of the lockdown followed by the pandemic.
• A driving factor becoming the new trend in the market and surging market growth.
• The factors which are likely to drive growth in the collagen sponge market.
• Factors expected to decline in growth in the market.
• An in-depth regional analysis of the market is performed.
• Key players and their headquarters are also covered in the report.