Collagen Market to Reflect Impressive Growth Rate by 2023
Posted by Rohini Chaudhari on January 3rd, 2020
The competitive landscape of the global collagen market is extremely fragmented in nature. This is mainly because of the presence of several small and large players in the market. As per a market intelligence report by Transparency Market Research, small players are giving tough competition to well-established players in terms of product price.
Some of the predominant players operating in the global collagen market are Collagen Solutions plc, Medtronic plc, Kyeron B.V., Nippi, Inc., Collagen Matrix, Inc. and botiss biomaterials GmbH.
According to Transparency Market Research, the global collagen market is estimated to rise at 9.4% CAGR during the forecast period from 2015 to 2023. The market was noted at a valuation of US.13 bn in 2014, while it is anticipated to touch US.37 bn by 2023.
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On a geographical standpoint, Asia Pacific is projected to emerge as the most promising market for the global collagen manufacturers. This is because of the favorable support provided by governments to the manufacturers. This is helping to increase awareness regarding the health benefits of collagen in the region. Based on application, the market is divided into drug delivery systems and tissue engineering
Increasing Adoption of Minimally-invasive Surgeries to Boost Growth
The rising awareness of minimally invasive surgeries is one of the primary drivers of the global collagen market. Apart from this, efficient wound healing properties of collagen is another factor driving the global collagen market. Rising geriatric population across the globe is increasing the demand of collagen. This is because of geriatric people are more prone to diseases due to reduced immunity in their body. This will expand the global collagen market in the time to come. Further, collagens are biodegradable in nature and hence their disposable do not pose any threat to the ecosystem. This is one reason for the increasing usage of collagen. Further, the increasing technological advancements in the healthcare sector has increased efficiency of collagen manufacturing products. The increased productivity of the collagen product is anticipated to push the global collagen market..
Developing Nations on Radar of Top Market Players to Increase their Market Share
The growth of collagen products are already on verge of saturation in developed countries of the world. This is the reason collagen manufacturers are focusing on the developing countries to strengthen their market hold. Looking at this, Asia Pacific holds a lucrative avenues for the global players in the collagen market. This is because the region has several developing countries. Apart from this, rising geriatric population in Asia Pacific is another important factor propelling the collagen market in the region.
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About the AuthorRohini Chaudhari
Joined: June 12th, 2019
Articles Posted: 205
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