Latest News- Bovine Based Collagen Market For Biomedical Applications: Bone graft substitute is expected to lead the Application segment during 2024-2028

The Bovine Based Collagen Market For Biomedical Applications is being driven by Increasing use of bovine based collagen products for wound dressing

The Bovine Based Collagen Market For Biomedical Applications is expected to grow at a CAGR of 8.3% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 436.8 million. In the realm of biomedical applications, the bovine-based collagen market holds significant potential due to its role in addressing the health challenge posed by osteoporosis. This debilitating condition, characterized by a loss of bone density, increases the risk of fractures, particularly in the spine. Annually, an estimated 1.5 million vertebral compression fractures occur in the US, making them more frequent than hip or wrist fractures. The International Osteoporosis Foundation reports that osteoporosis affects over 8.9 million Americans, highlighting the urgent need for effective treatment and prevention strategies. Bovine-based collagen, with its proven ability to promote bone health and regeneration, is a promising solution in this context. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Bone graft substitute
  • Cartilage repair
  • Collagen based scaffold
  • Hemostat
  • Others
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • Asia
    • China
    • India
    • Japan
    • South Korea
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing use of bovine based collagen products for wound dressing
• Usage of bovine based collagen to treat chronic medical conditions
• Increase in research and development of regenerative medicines

However, the market also witnesses some limitations, which are as follows:

• High risk of disease transmission
• Lack of adequate healthcare infrastructure in developing countries
• Ethical issues with bovine based collagen products

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Market Scope in Bovine Based Collagen Market For Biomedical Applications Research Report

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Research Analysis Overview

The Bovine-based collagen market holds significant potential in the biomedical sector due to its applications in wound healing and tissue engineering. This protein derived from cattle is a popular choice for biomedical uses due to its structural similarity to human collagen found in connective tissues. Bovine-based collagen finds utility in various medical disorders, surgical procedures, and biocompatible hemostats for orthopedic and dental operations. In regenerative medicine, it is used in wound dressings, periodontal surgeries, and tissue engineering. Its biodegradability and biocompatibility make it an ideal candidate for personalized treatment and cosmetic procedures, making it a valuable resource in the biomedical field. Other collagen sources include porcine, chicken, marine animals, and mammals. Bovine-based collagen is also used as a bioink in 3D bioprinting for creating complex tissue structures.

Market Research Overview

The bovine-based collagen market within the biomedical applications sector is experiencing significant growth due to its extensive use in various medical fields. As a crucial protein component of connective tissues in cattle, collagen is a valuable source for addressing medical disorders, orthopedic and dental operations, and regenerative medicine. Wound healing is a primary application, with collagen-based wound dressings gaining popularity for their ability to promote tissue regeneration and enhance healing processes. The global healthcare market, encompassing biotechnology, equipment, supplies, pharmaceuticals, and services, is projected to expand substantially due to factors such as an aging population, increasing life expectancy, and the growing prevalence of chronic diseases. By 2050, approximately one-quarter of the US population and Europe's population by 2030 are projected to be over 60 years old, leading to a surge in demand for healthcare solutions, including bovine-based collagen for biomedical applications.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
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Website: www.technavio.com/